Brokerages forecast that Apollo Endosurgery, Inc. (NASDAQ:APEN) will report sales of $16.67 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apollo Endosurgery’s earnings. The lowest sales estimate is $16.34 million and the highest is $16.99 million. Apollo Endosurgery reported sales of $15.39 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The firm is expected to issue its next quarterly earnings results on Wednesday, March 14th.
According to Zacks, analysts expect that Apollo Endosurgery will report full year sales of $16.67 million for the current year, with estimates ranging from $64.64 million to $65.30 million. For the next financial year, analysts expect that the business will report sales of $68.30 million per share, with estimates ranging from $67.20 million to $69.39 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Apollo Endosurgery.
A number of equities research analysts have weighed in on the company. Northland Securities reaffirmed a “buy” rating and set a $12.00 target price on shares of Apollo Endosurgery in a research report on Monday, December 4th. Zacks Investment Research raised Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $9.44.
In other news, VP Bret Schwartzhoff bought 9,500 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was acquired at an average cost of $4.24 per share, with a total value of $40,280.00. Following the transaction, the vice president now directly owns 15,631 shares in the company, valued at approximately $66,275.44. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 74.20% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in APEN. Russell Investments Group Ltd. bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $1,288,000. JPMorgan Chase & Co. bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $119,000. Woodmont Investment Counsel LLC bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $220,000. Stonepine Capital Management LLC bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $11,067,000. Finally, King Luther Capital Management Corp bought a new position in shares of Apollo Endosurgery in the 3rd quarter worth $2,567,000. 23.67% of the stock is owned by hedge funds and other institutional investors.
Apollo Endosurgery Company Profile
Apollo Endosurgery, Inc, formerly Lpath, Inc, is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries.
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