Wall Street analysts forecast that Obalon Therptcs (NASDAQ:OBLN) will report sales of $3.52 million for the current quarter, Zacks reports. Two analysts have made estimates for Obalon Therptcs’ earnings, with estimates ranging from $3.40 million to $3.63 million. Obalon Therptcs posted sales of $770,000.00 during the same quarter last year, which would indicate a positive year over year growth rate of 357.1%. The company is scheduled to issue its next earnings report on Thursday, February 22nd.
According to Zacks, analysts expect that Obalon Therptcs will report full-year sales of $3.52 million for the current year, with estimates ranging from $9.60 million to $9.85 million. For the next fiscal year, analysts forecast that the firm will report sales of $21.50 million per share, with estimates ranging from $18.19 million to $24.80 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Obalon Therptcs.
Obalon Therptcs (NASDAQ:OBLN) last posted its quarterly earnings data on Friday, November 3rd. The company reported ($0.55) EPS for the quarter, missing analysts’ consensus estimates of ($0.43) by ($0.12). The company had revenue of $2.79 million for the quarter, compared to analyst estimates of $2.95 million. Obalon Therptcs had a negative net margin of 459.54% and a negative return on equity of 59.77%.
A number of large investors have recently modified their holdings of OBLN. Wetherby Asset Management Inc. acquired a new stake in Obalon Therptcs in the 2nd quarter worth about $238,000. Schwab Charles Investment Management Inc. acquired a new stake in Obalon Therptcs in the 2nd quarter worth about $175,000. Bank of New York Mellon Corp boosted its stake in Obalon Therptcs by 33.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 21,135 shares of the company’s stock worth $210,000 after buying an additional 5,353 shares during the last quarter. Blair William & Co. IL acquired a new stake in Obalon Therptcs in the 2nd quarter worth about $134,000. Finally, William Blair Investment Management LLC boosted its stake in Obalon Therptcs by 168.9% in the 2nd quarter. William Blair Investment Management LLC now owns 329,643 shares of the company’s stock worth $3,267,000 after buying an additional 207,041 shares during the last quarter. 44.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Obalon Therptcs (NASDAQ OBLN) opened at $7.54 on Monday. The company has a current ratio of 8.78, a quick ratio of 8.65 and a debt-to-equity ratio of 0.21. Obalon Therptcs has a 52 week low of $6.91 and a 52 week high of $13.18.
COPYRIGHT VIOLATION WARNING: “Zacks: Analysts Anticipate Obalon Therptcs (OBLN) Will Announce Quarterly Sales of $3.52 Million” was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of international trademark & copyright laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/12/11/zacks-analysts-anticipate-obalon-therptcs-obln-will-announce-quarterly-sales-of-3-52-million.html.
Obalon Therptcs Company Profile
Obalon Therapeutics, Inc is a United States-based commercial-stage medical device company focused on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. The Company’s product, Obalon balloon system, is a swallowable, gas-filled intragastric balloon designed to provide weight loss in obese patients.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Obalon Therptcs Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Obalon Therptcs and related companies with MarketBeat.com's FREE daily email newsletter.