Zacks: Analysts Expect Apollo Endosurgery Inc (APEN) Will Post Quarterly Sales of $13.54 Million

Wall Street brokerages expect Apollo Endosurgery Inc (NASDAQ:APEN) to report sales of $13.54 million for the current quarter, according to Zacks. Two analysts have issued estimates for Apollo Endosurgery’s earnings, with the highest sales estimate coming in at $13.95 million and the lowest estimate coming in at $13.13 million. Apollo Endosurgery reported sales of $15.79 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 14.2%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Apollo Endosurgery will report full year sales of $54.07 million for the current financial year, with estimates ranging from $54.06 million to $54.09 million. For the next fiscal year, analysts forecast that the company will post sales of $55.64 million, with estimates ranging from $53.01 million to $58.27 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Apollo Endosurgery.

Apollo Endosurgery (NASDAQ:APEN) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.02). Apollo Endosurgery had a negative net margin of 69.37% and a negative return on equity of 97.89%. The company had revenue of $13.21 million during the quarter, compared to analyst estimates of $13.21 million.

Several analysts have recently issued reports on APEN shares. Zacks Investment Research upgraded shares of Apollo Endosurgery from a “sell” rating to a “buy” rating and set a $3.75 target price on the stock in a research report on Wednesday, February 20th. ValuEngine lowered shares of Apollo Endosurgery from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st.

In other Apollo Endosurgery news, CEO Todd Newton purchased 25,000 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were purchased at an average cost of $3.53 per share, for a total transaction of $88,250.00. Following the completion of the transaction, the chief executive officer now owns 317,668 shares of the company’s stock, valued at approximately $1,121,368.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 52.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of APEN. Gagnon Advisors LLC boosted its holdings in Apollo Endosurgery by 107.1% in the 4th quarter. Gagnon Advisors LLC now owns 519,846 shares of the biotechnology company’s stock valued at $1,793,000 after purchasing an additional 268,790 shares during the last quarter. Vanguard Group Inc lifted its stake in shares of Apollo Endosurgery by 176.3% during the third quarter. Vanguard Group Inc now owns 470,147 shares of the biotechnology company’s stock worth $3,371,000 after buying an additional 300,012 shares during the period. Vanguard Group Inc. lifted its stake in shares of Apollo Endosurgery by 176.3% during the third quarter. Vanguard Group Inc. now owns 470,147 shares of the biotechnology company’s stock worth $3,371,000 after buying an additional 300,012 shares during the period. NJ State Employees Deferred Compensation Plan raised its holdings in shares of Apollo Endosurgery by 3.4% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 120,000 shares of the biotechnology company’s stock worth $414,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Apollo Endosurgery by 34.0% during the third quarter. Dimensional Fund Advisors LP now owns 116,566 shares of the biotechnology company’s stock worth $836,000 after purchasing an additional 29,553 shares during the last quarter. Hedge funds and other institutional investors own 39.28% of the company’s stock.

Shares of NASDAQ APEN traded up $0.17 during trading on Monday, hitting $3.87. The company had a trading volume of 4,845 shares, compared to its average volume of 23,830. Apollo Endosurgery has a fifty-two week low of $3.02 and a fifty-two week high of $9.65. The firm has a market cap of $76.73 million, a price-to-earnings ratio of -2.02 and a beta of 0.75. The company has a quick ratio of 2.24, a current ratio of 2.77 and a debt-to-equity ratio of 1.33.

Apollo Endosurgery Company Profile

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. Its products include OverStitch and OverStitch Sx Endoscopic Suturing System that enables advanced endoscopic procedures by allowing physicians to place full thickness sutures and secure the approximation of tissue through a flexible endoscope; Orbera365 Managed Weight Loss System; and the BIB for the treatment of overweight and obese adults.

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

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