Equities research analysts expect that Apollo Endosurgery Inc (NASDAQ:APEN) will announce $17.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Apollo Endosurgery’s earnings, with the highest sales estimate coming in at $18.50 million and the lowest estimate coming in at $16.66 million. Apollo Endosurgery reported sales of $16.14 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.4%. The business is expected to report its next quarterly earnings results on Thursday, March 7th.
On average, analysts expect that Apollo Endosurgery will report full year sales of $65.25 million for the current financial year, with estimates ranging from $64.18 million to $66.27 million. For the next financial year, analysts forecast that the company will post sales of $69.91 million, with estimates ranging from $68.07 million to $71.65 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that cover Apollo Endosurgery.
Apollo Endosurgery (NASDAQ:APEN) last posted its quarterly earnings results on Thursday, November 8th. The biotechnology company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.11). Apollo Endosurgery had a negative return on equity of 58.61% and a negative net margin of 46.55%. The firm had revenue of $14.14 million for the quarter, compared to the consensus estimate of $16.21 million.
A number of equities analysts have recently issued reports on the company. Northland Securities downgraded Apollo Endosurgery from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 9th. Roth Capital reissued a “neutral” rating and set a $9.50 price target on shares of Apollo Endosurgery in a research report on Tuesday, July 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Apollo Endosurgery has a consensus rating of “Hold” and a consensus price target of $6.83.
APEN opened at $3.95 on Friday. Apollo Endosurgery has a 12-month low of $3.66 and a 12-month high of $9.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.18 and a current ratio of 2.87. The firm has a market cap of $131.27 million, a PE ratio of -1.97 and a beta of 0.34.
In other news, major shareholder Stonepine Capital, L.P. purchased 300,000 shares of the company’s stock in a transaction dated Friday, November 2nd. The shares were acquired at an average price of $5.00 per share, with a total value of $1,500,000.00. Following the transaction, the insider now owns 2,877,996 shares of the company’s stock, valued at $14,389,980. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 52.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. BlackRock Inc. lifted its stake in shares of Apollo Endosurgery by 42.4% during the 2nd quarter. BlackRock Inc. now owns 22,768 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 6,775 shares during the last quarter. Ardsley Advisory Partners lifted its stake in shares of Apollo Endosurgery by 25.0% during the 2nd quarter. Ardsley Advisory Partners now owns 50,000 shares of the biotechnology company’s stock worth $349,000 after purchasing an additional 10,000 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Apollo Endosurgery by 30.9% during the 2nd quarter. Renaissance Technologies LLC now owns 45,300 shares of the biotechnology company’s stock worth $316,000 after purchasing an additional 10,700 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Apollo Endosurgery by 41.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 87,013 shares of the biotechnology company’s stock worth $607,000 after purchasing an additional 25,528 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in shares of Apollo Endosurgery by 411.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 58,427 shares of the biotechnology company’s stock worth $419,000 after purchasing an additional 46,995 shares during the last quarter. Hedge funds and other institutional investors own 38.93% of the company’s stock.
About Apollo Endosurgery
Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices for the treatment of obesity. The company offers endo-bariatric products, such as Orbera intragastric balloon system and Orbera365 Managed Weight Loss System, which are non-surgical alternatives for the treatment of overweight and obese adults; and OverStitch endoscopic suturing system that enables endoscopic procedures by allowing physicians to place full-thickness sutures and secure the approximation of tissue through flexible endoscope.
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