Apollo Endosurgery Inc (APEN) Expected to Announce Quarterly Sales of $15.78 Million

Equities research analysts expect that Apollo Endosurgery Inc (NASDAQ:APEN) will announce $15.78 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Apollo Endosurgery’s earnings, with the highest sales estimate coming in at $16.02 million and the lowest estimate coming in at $15.60 million. Apollo Endosurgery posted sales of $16.14 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.2%. The company is scheduled to issue its next earnings results on Thursday, March 7th.

On average, analysts expect that Apollo Endosurgery will report full-year sales of $61.45 million for the current year, with estimates ranging from $61.27 million to $61.69 million. For the next year, analysts anticipate that the business will post sales of $64.50 million, with estimates ranging from $63.60 million to $65.58 million. Zacks’ sales averages are an average based on a survey of research firms that cover Apollo Endosurgery.

Apollo Endosurgery (NASDAQ:APEN) last released its earnings results on Thursday, November 8th. The biotechnology company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.11). Apollo Endosurgery had a negative net margin of 56.22% and a negative return on equity of 71.73%. The firm had revenue of $14.14 million during the quarter, compared to the consensus estimate of $16.21 million.

Several brokerages have issued reports on APEN. Northland Securities downgraded Apollo Endosurgery from a “market perform” rating to an “under perform” rating and cut their price target for the company from $7.00 to $3.00 in a report on Friday, November 9th. Roth Capital set a $4.00 price target on Apollo Endosurgery and gave the company a “hold” rating in a report on Monday, November 12th. Finally, Zacks Investment Research downgraded Apollo Endosurgery from a “hold” rating to a “sell” rating in a report on Tuesday, November 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $5.00.

In other Apollo Endosurgery news, major shareholder Stonepine Capital, L.P. purchased 57,430 shares of the business’s stock in a transaction on Wednesday, November 21st. The stock was acquired at an average price of $3.41 per share, with a total value of $195,836.30. Following the acquisition, the insider now directly owns 2,932,196 shares of the company’s stock, valued at approximately $9,998,788.36. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders have acquired a total of 411,630 shares of company stock valued at $1,880,116 in the last ninety days. Insiders own 52.80% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Apollo Endosurgery by 42.4% during the 2nd quarter. BlackRock Inc. now owns 22,768 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 6,775 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Apollo Endosurgery by 30.9% during the second quarter. Renaissance Technologies LLC now owns 45,300 shares of the biotechnology company’s stock worth $316,000 after buying an additional 10,700 shares in the last quarter. Ardsley Advisory Partners lifted its holdings in shares of Apollo Endosurgery by 25.0% during the second quarter. Ardsley Advisory Partners now owns 50,000 shares of the biotechnology company’s stock worth $349,000 after buying an additional 10,000 shares in the last quarter. Worth Venture Partners LLC acquired a new stake in shares of Apollo Endosurgery during the third quarter worth $359,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Apollo Endosurgery by 411.1% during the third quarter. JPMorgan Chase & Co. now owns 58,427 shares of the biotechnology company’s stock worth $419,000 after buying an additional 46,995 shares in the last quarter. 41.04% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:APEN traded down $0.70 during midday trading on Monday, hitting $4.01. The stock had a trading volume of 23,157 shares, compared to its average volume of 69,759. Apollo Endosurgery has a 12 month low of $3.14 and a 12 month high of $9.65. The company has a current ratio of 2.42, a quick ratio of 1.81 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $103.12 million, a PE ratio of -2.00 and a beta of 0.34.

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.

Featured Story: Is it better to buy a fund with a higher or lower NAV?

Get a free copy of the Zacks research report on Apollo Endosurgery (APEN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Apollo Endosurgery (NASDAQ:APEN)

Receive News & Ratings for Apollo Endosurgery Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Endosurgery and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply