Analysts Issue Forecasts for Avinger Inc.’s FY2016 Earnings (AVGR)
Avinger Inc. (NASDAQ:AVGR) – Oppenheimer Holdings boosted their FY2016 EPS estimates for shares of Avinger in a research report issued on Monday. Oppenheimer Holdings analyst S. Lichtman now forecasts that the brokerage will post earnings per share of ($3.62) for the year, up from their previous estimate of ($4.38). Oppenheimer Holdings also issued estimates for Avinger’s Q4 2016 earnings at ($0.55) EPS and FY2017 earnings at ($2.18) EPS.
Avinger (NASDAQ:AVGR) last posted its quarterly earnings results on Thursday, November 3rd. The medical device company reported ($0.73) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.84) by $0.11. Avinger had a negative net margin of 322.49% and a negative return on equity of 1,090.68%. The firm had revenue of $5.30 million for the quarter, compared to analysts’ expectations of $4.90 million.
A number of other brokerages have also weighed in on AVGR. Zacks Investment Research upgraded shares of Avinger from a “hold” rating to a “buy” rating and set a $4.75 price objective for the company in a report on Thursday. BTIG Research reiterated a “buy” rating and set a $18.00 price objective on shares of Avinger in a report on Friday, July 15th.
Avinger (NASDAQ:AVGR) opened at 4.40 on Thursday. The company’s 50-day moving average is $4.45 and its 200-day moving average is $7.30. Avinger has a 12 month low of $3.35 and a 12 month high of $25.11. The company’s market cap is $77.85 million.
In other Avinger news, CEO Jeffrey M. Soinski purchased 57,100 shares of Avinger stock in a transaction dated Tuesday, August 16th. The stock was acquired at an average price of $3.50 per share, for a total transaction of $199,850.00. Following the acquisition, the chief executive officer now owns 59,345 shares in the company, valued at approximately $207,707.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 30.50% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Bridgeway Capital Management Inc. acquired a new stake in Avinger during the second quarter valued at approximately $179,000. Schwab Charles Investment Management Inc. acquired a new stake in Avinger during the second quarter valued at approximately $209,000. Teachers Advisors Inc. acquired a new stake in Avinger during the second quarter valued at approximately $214,000. Teachers Advisors LLC raised its stake in Avinger by 16.8% in the third quarter. Teachers Advisors LLC now owns 20,933 shares of the medical device company’s stock valued at $100,000 after buying an additional 3,018 shares in the last quarter. Finally, California State Teachers Retirement System acquired a new stake in Avinger during the second quarter valued at approximately $273,000. Institutional investors and hedge funds own 50.76% of the company’s stock.
Avinger, Inc is a commercial-stage medical device company. The Company designs, manufactures and sells image-guided, catheter-based systems that are used by physicians to treat patients with peripheral arterial disease (PAD). The Company focuses on introducing products based on its lumivascular platform, which is an intravascular image-guided system.
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