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.
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.
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