Oncology Institute (NASDAQ:TOI) Issues Earnings Results, Beats Estimates By $0.02 EPS

Oncology Institute (NASDAQ:TOI) released its quarterly earnings results on Thursday. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02, FiscalAI reports. The firm had revenue of $141.96 million for the quarter, compared to the consensus estimate of $139.78 million. Oncology Institute had a negative return on equity of 1,527.21% and a negative net margin of 13.21%.

Oncology Institute Trading Down 5.1%

Shares of NASDAQ:TOI traded down $0.14 during trading on Thursday, hitting $2.62. 2,060,204 shares of the company were exchanged, compared to its average volume of 1,829,805. Oncology Institute has a fifty-two week low of $0.63 and a fifty-two week high of $4.88. The firm has a fifty day moving average price of $3.04 and a two-hundred day moving average price of $3.40. The stock has a market cap of $257.76 million, a price-to-earnings ratio of -4.09 and a beta of 0.14.

Insider Transactions at Oncology Institute

In other Oncology Institute news, Director Brad Hively sold 13,333 shares of the company’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $3.77, for a total transaction of $50,265.41. Following the sale, the director directly owned 683,721 shares of the company’s stock, valued at approximately $2,577,628.17. This represents a 1.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 8.50% of the company’s stock.

Institutional Investors Weigh In On Oncology Institute

A number of institutional investors and hedge funds have recently modified their holdings of the company. Kanen Wealth Management LLC acquired a new stake in Oncology Institute in the 3rd quarter valued at about $6,421,000. Marshall Wace LLP acquired a new position in Oncology Institute during the second quarter worth approximately $3,028,000. Geode Capital Management LLC raised its stake in Oncology Institute by 231.7% in the second quarter. Geode Capital Management LLC now owns 1,279,443 shares of the company’s stock valued at $2,623,000 after buying an additional 893,696 shares during the period. UBS Group AG lifted its position in shares of Oncology Institute by 151.2% in the third quarter. UBS Group AG now owns 1,055,862 shares of the company’s stock valued at $3,685,000 after buying an additional 635,489 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Oncology Institute by 134.8% in the third quarter. Millennium Management LLC now owns 951,001 shares of the company’s stock valued at $3,319,000 after buying an additional 545,992 shares during the last quarter. 36.86% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have commented on TOI. Weiss Ratings restated a “sell (d-)” rating on shares of Oncology Institute in a research note on Wednesday, January 21st. BTIG Research reiterated a “buy” rating and issued a $7.00 price objective on shares of Oncology Institute in a report on Monday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of Oncology Institute in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.50.

About Oncology Institute

The Oncology Institute, Inc, an oncology company, provides various medical oncology services in the United States. The company operates through three segments: Dispensary, Patient Services, and Clinical Trials & Other. It offers physician services, in-house infusion and dispensary, clinical trial, radiation, outpatient blood product transfusion, and patient support services, as well as educational seminars, support groups, and counseling services. The company also provides managing clinical trials, palliative care programs, stem cell transplants services, and other care delivery models associated with non-community-based academic and tertiary care settings; and conducts clinical trials for a range of pharmaceutical and medical device companies.