PAVmed Inc (PAVM)
NASDAQ:PAVM
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PAVmed
(NASDAQ:PAVM)
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Rating:45Neutral
Price Target:
$8.50
▲(9.68% Upside)
Action:ReiteratedDate:03/30/26
The score is held down primarily by very weak financial fundamentals—deep losses, negative gross profit in multiple years, and persistent cash burn—alongside bearish technicals with the stock trading below key moving averages. Offsetting factors include constructive operational/coverage catalysts discussed on the earnings call and balance-sheet/capital-structure improvements from recent financings and compliance-related updates, but they are not yet enough to outweigh the financial and trend risks.
Positive Factors
Material 2025 revenue step-up
A step-change in revenue to ~$71M in 2025 indicates the company achieved meaningful commercial scale from its device franchises. Durable revenue growth supports operating leverage potential, broadens addressable market exposure, and creates a base from which margin and cash conversion improvements can be pursued over multiple quarters.
Negative Factors
Persistent negative cash flow
Consistent negative operating and free cash flow means the business cannot self-fund growth and requires ongoing external financing. Over a multi-quarter horizon this raises refinancing and dilution risk, constrains investment in commercialization, and limits resilience to setbacks in reimbursement or regulatory timing.
Read all positive and negative factors
Positive Factors
Negative Factors
Material 2025 revenue step-up
A step-change in revenue to ~$71M in 2025 indicates the company achieved meaningful commercial scale from its device franchises. Durable revenue growth supports operating leverage potential, broadens addressable market exposure, and creates a base from which margin and cash conversion improvements can be pursued over multiple quarters.
Read all positive factors
PAVmed (PAVM) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$59.24M
Dividend YieldN/A
Average Volume (3M)377.79K
Price to Earnings (P/E)―
Beta (1Y)1.23
Revenue Growth-99.28%
EPS Growth-46.17%
CountryUS
Employees39
SectorHealthcare
Sector Strength45
IndustryMedical - Devices
Share Statistics
EPS (TTM)-8.70
Shares Outstanding6,383,089
10 Day Avg. Volume774,204
30 Day Avg. Volume377,786
Financial Highlights & Ratios
PEG Ratio-0.10
Price to Book (P/B)0.13
Price to Sales (P/S)62.51
P/FCF Ratio>-0.01
Enterprise Value/Market Cap0.28
Enterprise Value/Revenue235.62
Enterprise Value/Gross Profit-80.82
Enterprise Value/Ebitda-2.62
Forecast
1Y Price Target
$16.00Price Target Upside106.45% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)-24
Revenue Forecast (FY)$480.00K
PAVmed Business Overview & Revenue Model
Company Description
PAVmed Inc. is a medical technology company focused on the development and commercialization of innovative medical devices and diagnostic tools. Operating primarily in the healthcare sector, PAVmed aims to improve patient outcomes through its core...
How the Company Makes Money
PAVmed’s business model is to generate revenue by commercializing medical devices and related technologies. In general, this can include (i) product sales to hospitals, clinics, and distributors, where revenue is recognized when devices are shippe...
PAVmed Earnings Call Summary
Earnings Call Date:Nov 13, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:May 18, 2026
Earnings Call Sentiment Positive
The earnings call highlighted several significant achievements, including successful Medicare endorsement for EsoGuard, strong financial positioning for Lucid, and strategic partnerships for Veris. However, challenges remain in debt restructuring and stagnant EsoGuard revenue growth.Positive Updates
Successful Medicare Contractor Meeting
The experts unanimously endorsed Medicare coverage for EsoGuard, marking a final step towards near-term Medicare coverage for the test.
Negative Updates
Debt Restructuring Challenges
The company is still working on further steps to stabilize its corporate structure and balance sheet.
Read all updates
Q3-2025 Updates
Positive
Negative
Successful Medicare Contractor Meeting
The experts unanimously endorsed Medicare coverage for EsoGuard, marking a final step towards near-term Medicare coverage for the test.
Read all positive updates
Company Guidance
During PAVmed's Third Quarter 2025 Business Update Conference Call, several key metrics and strategic updates were discussed, highlighting the company’s financial and operational progress. A primary focus was on Lucid, PAVmed's main asset, which reported EsoGuard revenue of $1.2 million for the quarter with over 2,800 tests conducted, aligning with its target range of 2,500 to 3,000 tests. The company also highlighted a successful Medicare contractor meeting in September, which is expected to lead to near-term Medicare coverage. Lucid raised nearly $27 million through an underwritten public offering, ensuring a financial runway through 2026. For Veris, the company launched the commercial phase of its partnership with OSU, targeting 1,000 patients in the first year, and plans to submit its implantable device for FDA approval in 2026. Financially, PAVmed reported a non-GAAP loss of $446,000 and maintained an average non-GAAP operating expense of approximately $4.4 million over the last four quarters. The company’s strategic initiatives include expanding Veris's offerings to other academic centers and advancing an endoscopic imaging technology, with a regulatory strategy indicating a 510(k) pathway.PAVmed Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
20
Very Negative
Cash Flow
10
Very Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 71.00K | 3.00M | 2.45M | 377.00K | 500.00K |
| Gross Profit | -252.00K | -3.04M | -3.97M | -3.24M | -85.00K |
| EBITDA | -21.70M | 29.67M | -75.74M | -99.50M | -55.90M |
| Net Income | 401.00K | 39.79M | -64.17M | -88.98M | -50.35M |
Balance Sheet | |||||
| Total Assets | 38.81M | 30.66M | 33.12M | 53.98M | 86.98M |
| Cash, Cash Equivalents and Short-Term Investments | 1.54B | 1.19M | 19.64M | 42.75M | 79.25M |
| Total Debt | 13.35B | 31.86M | 48.73M | 36.64M | 0.00 |
| Total Liabilities | 16.51M | 37.69M | 57.14M | 43.05M | 7.56M |
| Stockholders Equity | 33.97M | -2.50M | -53.83M | -9.68M | 61.67M |
Cash Flow | |||||
| Free Cash Flow | -5.21B | -33.61M | -52.28M | -72.53M | -42.06M |
| Operating Cash Flow | -5.21B | -33.55M | -52.04M | -70.98M | -40.59M |
| Investing Cash Flow | -31.00M | -16.18M | 758.00K | -4.74M | -3.72M |
| Financing Cash Flow | 5.59B | 31.28M | 31.17M | 38.21M | 104.31M |
PAVmed Technical Analysis
Negative
7.75
Price Trends
10.00
Negative
9.55
Negative
11.91
Negative
Market Momentum
-0.15
Positive
42.95
Neutral
21.21
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PAVM, the sentiment is Negative. The current price of 7.75 is below the 20-day moving average (MA) of 9.66, below the 50-day MA of 10.00, and below the 200-day MA of 11.91, indicating a bearish trend. The MACD of -0.15 indicates Positive momentum. The RSI at 42.95 is Neutral, neither overbought nor oversold. The STOCH value of 21.21 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PAVM.
PAVmed Risk Analysis
PAVmed disclosed 54 risk factors in its most recent earnings report. PAVmed reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
PAVmed Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
45 Neutral | $59.24M | -1.01 | 1.02% | ― | -99.28% | -46.17% | |
44 Neutral | $9.26M | -0.56 | -193.22% | ― | -2.47% | 91.23% | |
43 Neutral | $783.87K | -9.36 | -476.74% | ― | -5.19% | -0.81% | |
43 Neutral | $6.28M | -1.19 | -84.30% | ― | -20.05% | 41.89% | |
43 Neutral | $5.22M | -0.14 | -70.27% | ― | -87.84% | 29.16% | |
40 Underperform | $6.34M | -1.29 | -220.42% | ― | -41.03% | 35.71% |
* Healthcare Sector Average
PAVM
PAVmed
9.16
-11.24
-55.10%
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PAVmed Corporate Events
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
PAVmed Reports 2025 Results, Strengthens Balance Sheet
Positive
Mar 30, 2026
On March 30, 2026, PAVmed reported fourth-quarter and full-year 2025 results, highlighting major balance sheet repairs and a relaunch of its medical device portfolio under new leadership. The company completed a $30 million Series D preferred stoc...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
PAVmed Shareholders Approve Equity Issuance and Governance Changes
Neutral
Mar 27, 2026
On March 27, 2026, PAVmed Inc. held a special meeting at which stockholders representing about 54.1% of voting power approved the issuance of common shares tied to 60,000 Series D Convertible Preferred shares and an amended senior secured converti...
Business Operations and StrategyPrivate Placements and FinancingShareholder Meetings
PAVmed Restructures Capital With New Preferred Financing
Positive
Feb 4, 2026
On February 3, 2026, PAVmed raised $30 million through the issuance of newly designated Series D Convertible Preferred Stock to accredited investors, together with warrants that could provide up to an additional $30 million in preferred equity upo...
Delistings and Listing ChangesRegulatory Filings and Compliance
PAVmed Regains Compliance with Nasdaq Minimum Bid Price
Positive
Jan 23, 2026
On January 21, 2026, PAVmed Inc. announced it had regained compliance with the Nasdaq Capital Market’s $1 minimum bid price requirement for continued listing, following a period beginning January 23, 2025, when its stock had traded below the...
Delistings and Listing ChangesRegulatory Filings and ComplianceShareholder MeetingsStock Split
PAVmed Announces Reverse Stock Split to Maintain Nasdaq Listing
Negative
Dec 30, 2025
On December 30, 2025, PAVmed Inc. announced that it will implement a 1-for-30 reverse stock split of its common stock, effective January 2, 2026, following shareholder approval at a special meeting on December 5, 2025 and board approval of the rat...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.