Nuwellis (Nasdaq:NUWE) shares ticked up today on first-quarter results that topped the consensus forecast.
The Minneapolis-based fluid overload treatment developer — formerly known as CHF Solutions — posted losses of $4.5 million, or 42¢ per share, on sales of more than $1.9 million for the three months ended March 31, 2022, for a bottom-line from losses of more than $5.2 million this time last year on sales growth of 0.4%.
Nuwellis’ losses per share of 42¢ came in 4¢ ahead of projections on Wall Street, where analysts were looking for sales of just shy of $1.8 million.
“I am very pleased with the resilient performance in the quarter,” Nuwellis CEO Nestor Jaramillo said in a news release. “Going forward, we expect to continue benefiting from the successful execution of our strategy and rollout of our new sales management system.”
Nuwellis did not provide 2022 guidance.
NUWE shares were up 7.7% at 75¢ per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was unchanged.
