Massachusetts Financial Services Co. MA decreased its position in Obalon Therapeutics Inc. (NASDAQ:OBLN) by 51.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 311,866 shares of the company’s stock after selling 326,985 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.78% of Obalon Therapeutics worth $1,070,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in OBLN. Tamarack Advisers LP increased its stake in shares of Obalon Therapeutics by 10.3% during the 4th quarter. Tamarack Advisers LP now owns 604,036 shares of the company’s stock valued at $3,993,000 after acquiring an additional 56,500 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in shares of Obalon Therapeutics during the 4th quarter valued at about $1,571,000. Finally, Deutsche Bank AG increased its stake in shares of Obalon Therapeutics by 170.4% during the 4th quarter. Deutsche Bank AG now owns 21,120 shares of the company’s stock valued at $138,000 after acquiring an additional 13,309 shares during the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.
NASDAQ OBLN opened at $2.66 on Thursday. The company has a quick ratio of 4.09, a current ratio of 4.29 and a debt-to-equity ratio of 0.29. Obalon Therapeutics Inc. has a 12 month low of $2.57 and a 12 month high of $11.95.
Obalon Therapeutics (NASDAQ:OBLN) last issued its earnings results on Monday, March 5th. The company reported ($0.60) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.12). Obalon Therapeutics had a negative return on equity of 102.17% and a negative net margin of 399.94%. The firm had revenue of $3.69 million for the quarter, compared to analysts’ expectations of $3.88 million. sell-side analysts expect that Obalon Therapeutics Inc. will post -2.19 EPS for the current fiscal year.
In other news, CFO William J. Plovanic bought 30,000 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was acquired at an average price of $4.04 per share, for a total transaction of $121,200.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 16.40% of the stock is currently owned by insiders.
OBLN has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Obalon Therapeutics from a “hold” rating to a “buy” rating and set a $5.00 price objective for the company in a research note on Wednesday, February 14th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Obalon Therapeutics in a research note on Tuesday, March 6th. BTIG Research dropped their price objective on shares of Obalon Therapeutics to $7.00 and set a “buy” rating for the company in a research note on Tuesday, March 6th. Canaccord Genuity reaffirmed a “buy” rating and set a $10.00 price objective (down previously from $11.00) on shares of Obalon Therapeutics in a research note on Tuesday, March 6th. Finally, ValuEngine raised shares of Obalon Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.40.
About Obalon Therapeutics
Obalon Therapeutics, Inc, a vertically integrated medical device company, focuses on developing and commercializing medical devices to treat obese and overweight people by facilitating weight loss. It offers the Obalon balloon system designed to provide weight loss in obese patients. Obalon Therapeutics, Inc was founded in 2008 and is headquartered in Carlsbad, California.
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