ReShape Lifesciences (OTCMKTS:RSLS) Announces Quarterly Earnings Results

ReShape Lifesciences (OTCMKTS:RSLS – Get Rating) announced its quarterly earnings results on Monday. The medical device company reported ($0.44) EPS for the quarter, missing the consensus estimate of ($0.34) by ($0.10), Fidelity Earnings reports. The company had revenue of $2.44 million during the quarter.

Shares of OTCMKTS RSLS opened at $0.71 on Thursday. The business has a fifty day simple moving average of $1.00 and a 200 day simple moving average of $1.38. The firm has a market capitalization of $13.24 million, a price-to-earnings ratio of -0.12 and a beta of -0.60. ReShape Lifesciences has a one year low of $0.65 and a one year high of $14.40.

A number of equities research analysts have issued reports on RSLS shares. Alliance Global Partners upped their target price on ReShape Lifesciences from $4.65 to $5.50 and gave the stock a “buy” rating in a research report on Thursday. Maxim Group decreased their target price on ReShape Lifesciences from $8.00 to $4.00 in a research report on Tuesday, March 29th.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sassicaia Capital Advisers LLC bought a new stake in ReShape Lifesciences in the third quarter valued at $29,000. Northern Trust Corp bought a new stake in ReShape Lifesciences in the fourth quarter valued at $55,000. Millennium Management LLC bought a new stake in ReShape Lifesciences in the fourth quarter valued at $55,000. GSA Capital Partners LLP bought a new stake in ReShape Lifesciences in the first quarter valued at $43,000. Finally, Two Sigma Investments LP bought a new stake in ReShape Lifesciences in the third quarter valued at $116,000. Institutional investors and hedge funds own 16.86% of the company’s stock.

ReShape Lifesciences Company Profile (Get Rating)

ReShape Lifesciences Inc, a medical device company, provides products and services that manages and treat obesity and metabolic diseases in the United States, Australia, Europe, and internationally. The company's product portfolio includes Lap-Band System, a minimally invasive long-term treatment of severe obesity and more invasive surgical stapling procedures, such as the gastric bypass or sleeve gastrectomy; and ReShape Vest system, an investigational, minimally invasive, laparoscopically implanted medical device that wraps around the stomach to enable weight loss in obese and morbidly obese patients without cutting or permanently removing portions of the stomach, or bypassing any portion of the gastrointestinal tract.

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