Picard Medical, Inc. (PMI) Stock

Picard Medical, Inc. (PMI) is a Healthcare stock trading at $3.09 (as of 2026-08-20), with a market capitalization of $7.09M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Picard Medical, Inc., through its subsidiaries, engages in the designing, manufacturing, production, supply, marketing, and sale of medical device products. The company offers SynCardia TAH, an artificial heart for patients that is designed to function as a failed human heart in patients suffering from advanced heart failure. The company operates in the USA, Europe, and internationally. The company was incorporated in 2021 and is based in Tucson, Arizona. Picard Medical, Inc. operates as a subsidiary of Hunniwell Picard I, Llc

Understand Picard Medical, Inc.: how it makes money

Picard Medical designs and sells medical device products, including the SynCardia TAH artificial heart, and makes money through the designing, manufacturing, supply, marketing, and sale of these devices.

The profit model is tied to whether the company can successfully design, manufacture, supply, market, and sell its medical device products (notably the SynCardia TAH) at a gross margin that can support operating expenses.

Business quality (Mixed): Latest quarter shows a positive gross margin (23.9%), but a very large operating loss (operating margin -392.3%), so investors should focus on execution toward sustainable commercial economics for its medical devices.

Bull case

  • Product-focused medical device offering: The company offers SynCardia TAH, an artificial heart designed to function as a failed human heart for patients with advanced heart failure.
  • Manufacturing and commercial capabilities: It is engaged in designing, manufacturing, production, supply, marketing, and sale of medical device products.

Bear case

  • Heavy operating losses: For the latest period (2026-03-31), operating margin is -392.3%, indicating operating expenses far exceed operating profit.
  • Early-stage corporate history: The company was incorporated in 2021, which can imply ongoing investment needs before sustained profitability is achieved.
Valuation — source: SEC EDGAR (first-party)
Price$3.09
Market Cap$7.09M
EV / EBITDA-0.5
Price / Book4.13
Price / Sales1.12
FCF Yield-226.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$4.94M
Net Margin-546.6%
Return on Equity-1631.3%
Debt / Equity0.58
Current Ratio1.02
Revenue Growth (YoY)12.5%
EPS Growth (YoY)-74.9%
Financial Health — source: SEC EDGAR
Altman Z-Score2.74 (grey)
Valuation vs Sector & Industry
Sector P/E (Healthcare)21.6
Industry P/E (Medical Equipment)32.9
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderCITADEL ADVISORS LLC ($1.74M)
Institutional Holders Tracked10
Company
SectorHealthcare
IndustryMedical Equipment
CEOPatrick N. J. Schnegelsberg
Employees75
CountryUS
IPO Date2025-08-22

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PMI earnings history · PMI institutional & insider holders · PMI KPIs & operating metrics · PMI financials · PMI investor presentations & press releases · PMI SEC filings · PMI peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.