EnteroMedics Inc. (NASDAQ:ETRM) issued its quarterly earnings results on Tuesday, May 16th. The medical device company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by $0.64, Bloomberg Earnings reports. EnteroMedics had a negative net margin of 3,088.74% and a negative return on equity of 506.36%. The firm had revenue of $0.04 million for the quarter.
Shares of EnteroMedics (NASDAQ:ETRM) traded down 3.97% during trading on Friday, hitting $4.84. The company had a trading volume of 105,869 shares. The stock’s market cap is $33.43 million. The firm has a 50 day moving average of $4.79 and a 200 day moving average of $5.29. EnteroMedics has a 12-month low of $1.75 and a 12-month high of $34.02.
Several hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its stake in EnteroMedics by 135.2% in the first quarter. Geode Capital Management LLC now owns 31,601 shares of the medical device company’s stock worth $182,000 after buying an additional 18,168 shares in the last quarter. Vanguard Group Inc. boosted its stake in EnteroMedics by 109.3% in the first quarter. Vanguard Group Inc. now owns 40,013 shares of the medical device company’s stock worth $230,000 after buying an additional 20,900 shares in the last quarter. Finally, Morgan Stanley boosted its stake in EnteroMedics by 33,202.2% in the first quarter. Morgan Stanley now owns 46,290 shares of the medical device company’s stock worth $267,000 after buying an additional 46,151 shares in the last quarter. Institutional investors and hedge funds own 3.55% of the company’s stock.
Separately, Ladenburg Thalmann Financial Services reiterated a “buy” rating and set a $11.00 price target on shares of EnteroMedics in a research report on Thursday, May 25th.
EnteroMedics Company Profile
EnteroMedics Inc (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.
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