Wall Street brokerages forecast that Apollo Endosurgery (NASDAQ:APEN) will announce sales of $16.00 million for the current quarter, according to Zacks. Three analysts have provided estimates for Apollo Endosurgery’s earnings. The lowest sales estimate is $15.47 million and the highest is $16.69 million. Apollo Endosurgery reported sales of $14.62 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.4%. The company is scheduled to report its next quarterly earnings report on Thursday, May 3rd.
On average, analysts expect that Apollo Endosurgery will report full year sales of $16.00 million for the current financial year, with estimates ranging from $67.20 million to $70.23 million. For the next fiscal year, analysts anticipate that the company will report sales of $77.09 million per share, with estimates ranging from $71.73 million to $80.83 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Apollo Endosurgery.
Apollo Endosurgery (NASDAQ:APEN) last announced its earnings results on Thursday, March 1st. The biotechnology company reported ($0.42) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.34) by ($0.08). Apollo Endosurgery had a negative net margin of 42.35% and a negative return on equity of 64.48%. The business had revenue of $16.14 million for the quarter, compared to the consensus estimate of $16.64 million.
A number of brokerages have recently commented on APEN. Northland Securities restated a “buy” rating and set a $12.00 target price on shares of Apollo Endosurgery in a report on Thursday, February 8th. Zacks Investment Research cut shares of Apollo Endosurgery from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. ValuEngine upgraded shares of Apollo Endosurgery from a “strong sell” rating to a “sell” rating in a report on Wednesday, January 3rd. Finally, Roth Capital set a $10.00 target price on shares of Apollo Endosurgery and gave the company a “buy” rating in a report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company. Apollo Endosurgery currently has a consensus rating of “Hold” and a consensus price target of $9.44.
Shares of APEN stock opened at $5.75 on Tuesday. Apollo Endosurgery has a 12 month low of $3.55 and a 12 month high of $13.48. The firm has a market cap of $103.75, a PE ratio of -2.86 and a beta of 0.34. The company has a current ratio of 2.23, a quick ratio of 1.68 and a debt-to-equity ratio of 0.67.
In other Apollo Endosurgery news, Director Matthew S. Crawford bought 4,038 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were purchased at an average price of $6.20 per share, for a total transaction of $25,035.60. Following the acquisition, the director now owns 53,715 shares in the company, valued at approximately $333,033. The purchase was disclosed in a filing with the SEC, which is available at this link. Insiders own 74.20% of the company’s stock.
A number of institutional investors have recently made changes to their positions in APEN. Russell Investments Group Ltd. bought a new position in Apollo Endosurgery in the 3rd quarter worth about $1,288,000. JPMorgan Chase & Co. bought a new position in Apollo Endosurgery in the 3rd quarter worth about $119,000. Stonepine Capital Management LLC boosted its stake in Apollo Endosurgery by 8.3% in the 4th quarter. Stonepine Capital Management LLC now owns 2,560,314 shares of the biotechnology company’s stock worth $14,338,000 after purchasing an additional 195,607 shares in the last quarter. Renaissance Technologies LLC bought a new position in Apollo Endosurgery in the 4th quarter worth about $126,000. Finally, Ardsley Advisory Partners boosted its stake in Apollo Endosurgery by 53.2% in the 4th quarter. Ardsley Advisory Partners now owns 28,800 shares of the biotechnology company’s stock worth $161,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 31.27% of the company’s stock.
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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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