Sei Investments Co. Acquires New Position in PAVmed Inc. (NASDAQ:PAVM)

Sei Investments Co. acquired a new stake in shares of PAVmed Inc. (NASDAQ:PAVM) in the second quarter, Holdings Channel reports. The firm acquired 168,028 shares of the company’s stock, valued at approximately $1,075,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. lifted its holdings in PAVmed by 135.6% during the 1st quarter. BlackRock Inc. now owns 4,354,014 shares of the company’s stock valued at $19,332,000 after buying an additional 2,505,787 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PAVmed by 91.5% in the 1st quarter. Geode Capital Management LLC now owns 1,040,312 shares of the company’s stock valued at $4,618,000 after purchasing an additional 497,040 shares in the last quarter. Northern Trust Corp raised its holdings in shares of PAVmed by 66.7% in the 1st quarter. Northern Trust Corp now owns 667,597 shares of the company’s stock valued at $2,964,000 after purchasing an additional 267,165 shares in the last quarter. Morgan Stanley raised its holdings in shares of PAVmed by 48.4% in the 1st quarter. Morgan Stanley now owns 600,003 shares of the company’s stock valued at $2,664,000 after purchasing an additional 195,606 shares in the last quarter. Finally, Parian Global Management LP bought a new stake in shares of PAVmed in the 1st quarter valued at about $1,935,000. Institutional investors own 24.81% of the company’s stock.

Shares of PAVmed stock opened at $7.46 on Tuesday. The firm’s 50 day moving average price is $6.92 and its 200-day moving average price is $5.74. PAVmed Inc. has a 52-week low of $1.63 and a 52-week high of $8.62. The company has a market cap of $632.37 million, a P/E ratio of -13.56 and a beta of 0.31.

PAVmed (NASDAQ:PAVM) last issued its quarterly earnings data on Thursday, August 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.04). As a group, equities research analysts expect that PAVmed Inc. will post -0.48 earnings per share for the current fiscal year.

Several equities research analysts have recently commented on the stock. Maxim Group restated a “buy” rating and issued a $8.00 price target on shares of PAVmed in a report on Friday, August 13th. Zacks Investment Research lowered shares of PAVmed from a “hold” rating to a “sell” rating in a report on Wednesday, August 18th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of PAVmed in a report on Friday, July 9th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $7.50.

PAVmed Company Profile

PAVmed, Inc is a commercial-stage technology medical device company, which engages in the commercialization of medical technologies. It operates through the following divisions: GI Health, Minimally Invasive Interventions, Infusion Therapy, and Emerging Innovations. The GI health division comprises of EsoGuard esophageal DNA laboratory developed test, EsoCheck Esophageal Cell Collection Device, and EsoCure Esophageal Ablation Device with Caldus technology.

Further Reading: Equity Income

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Institutional Ownership by Quarter for PAVmed (NASDAQ:PAVM)

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