Nuwellis (NASDAQ:NUWE) Releases Quarterly Earnings Results, Beats Estimates By $2.62 EPS

Nuwellis (NASDAQ:NUWE) announced its quarterly earnings results on Monday. The company reported $1.74 EPS for the quarter, beating the consensus estimate of ($0.88) by $2.62, Zacks reports. Nuwellis had a negative return on equity of 1,716.60% and a negative net margin of 169.54%. The business had revenue of $2.37 million for the quarter, compared to analyst estimates of $2.40 million. During the same quarter in the previous year, the firm earned ($63.29) EPS.

Nuwellis Stock Performance

Shares of NASDAQ:NUWE opened at $1.95 on Thursday. The business has a fifty day moving average of $1.54 and a 200-day moving average of $3.90. Nuwellis has a twelve month low of $1.00 and a twelve month high of $31.15. The firm has a market cap of $3.65 million, a PE ratio of -0.02 and a beta of 0.36.

Analysts Set New Price Targets

Several brokerages have recently commented on NUWE. Roth Mkm restated a “buy” rating and issued a $17.00 target price on shares of Nuwellis in a research note on Tuesday, August 13th. Roth Capital raised shares of Nuwellis to a “strong-buy” rating in a report on Monday, July 29th.

About Nuwellis

Nuwellis, Inc, a medical device company, develops, manufactures, and commercializes medical devices used in ultrafiltration therapy. The company offers Aquadex FlexFlow and Aquadex SmartFlow systems, which are used to treat patients suffering from fluid overload due to heart failure. Its Aquadex FlexFlow system includes a console, disposable blood circuit set, and disposable catheter.