Brokerages expect Apollo Endosurgery Inc (NASDAQ:APEN) to report sales of $16.21 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Apollo Endosurgery’s earnings, with estimates ranging from $15.98 million to $16.42 million. Apollo Endosurgery posted sales of $16.54 million during the same quarter last year, which suggests a negative year-over-year growth rate of 2%. The company is scheduled to report its next earnings report on Thursday, October 25th.

On average, analysts expect that Apollo Endosurgery will report full-year sales of $66.76 million for the current fiscal year, with estimates ranging from $66.75 million to $66.77 million. For the next financial year, analysts expect that the company will post sales of $72.58 million per share, with estimates ranging from $71.65 million to $73.50 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Apollo Endosurgery.

Apollo Endosurgery (NASDAQ:APEN) last released its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($0.53) earnings per share for the quarter, missing the consensus estimate of ($0.43) by ($0.10). Apollo Endosurgery had a negative return on equity of 58.61% and a negative net margin of 46.55%. The business had revenue of $15.79 million during the quarter, compared to analysts’ expectations of $16.56 million.

Several brokerages have recently issued reports on APEN. ValuEngine raised Apollo Endosurgery from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Zacks Investment Research raised Apollo Endosurgery from a “sell” rating to a “hold” rating in a research report on Wednesday, May 2nd. Northland Securities lowered Apollo Endosurgery from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Roth Capital reissued a “neutral” rating and issued a $9.50 target price on shares of Apollo Endosurgery in a research report on Tuesday, July 17th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $8.56.

In related news, Director Matthew S. Crawford acquired 363,500 shares of Apollo Endosurgery stock in a transaction that occurred on Wednesday, June 20th. The stock was bought at an average price of $5.50 per share, with a total value of $1,999,250.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Todd Newton acquired 72,727 shares of Apollo Endosurgery stock in a transaction that occurred on Wednesday, June 20th. The shares were bought at an average cost of $5.50 per share, with a total value of $399,998.50. Following the transaction, the chief executive officer now owns 268,606 shares in the company, valued at $1,477,333. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 440,772 shares of company stock valued at $2,424,246. 52.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of APEN. Renaissance Technologies LLC bought a new position in Apollo Endosurgery during the 4th quarter valued at approximately $126,000. BlackRock Inc. increased its position 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 buying an additional 6,775 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Apollo Endosurgery during the 1st quarter valued at approximately $378,000. NJ State Employees Deferred Compensation Plan bought a new position in Apollo Endosurgery during the 1st quarter valued at approximately $959,000. Finally, Gagnon Advisors LLC bought a new position in Apollo Endosurgery during the 2nd quarter valued at approximately $1,752,000. 32.77% of the stock is owned by institutional investors.

NASDAQ APEN traded down $0.03 on Friday, hitting $7.72. The company’s stock had a trading volume of 6,247 shares, compared to its average volume of 114,648. Apollo Endosurgery has a 52-week low of $3.55 and a 52-week high of $9.65. The stock has a market cap of $169.56 million, a P/E ratio of -3.84 and a beta of 0.11. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.38 and a current ratio of 2.87.

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

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