Brokerages forecast that Apollo Endosurgery Inc (NASDAQ:APEN) will report sales of $13.21 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apollo Endosurgery’s earnings. The lowest sales estimate is $13.03 million and the highest is $13.38 million. Apollo Endosurgery reported sales of $15.74 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 16.1%. The firm is expected to issue its next quarterly earnings results on Thursday, May 2nd.

According to Zacks, analysts expect that Apollo Endosurgery will report full year sales of $54.15 million for the current year, with estimates ranging from $53.91 million to $54.38 million. For the next financial year, analysts expect that the business will report sales of $55.50 million, with estimates ranging from $53.01 million to $57.98 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Apollo Endosurgery.

Apollo Endosurgery (NASDAQ:APEN) last issued its quarterly earnings data on Monday, March 18th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.18). The business had revenue of $15.18 million during the quarter, compared to analysts’ expectations of $15.00 million. Apollo Endosurgery had a negative return on equity of 88.05% and a negative net margin of 75.24%.

APEN has been the subject of several analyst reports. Zacks Investment Research lowered Apollo Endosurgery from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Northland Securities upgraded Apollo Endosurgery from an “under perform” rating to a “market perform” rating and set a $3.00 price objective for the company in a research report on Wednesday, January 2nd.

Several institutional investors and hedge funds have recently added to or reduced their stakes in APEN. JPMorgan Chase & Co. boosted its position in shares of Apollo Endosurgery by 411.1% during the third quarter. JPMorgan Chase & Co. now owns 58,427 shares of the biotechnology company’s stock worth $419,000 after buying an additional 46,995 shares during the period. Dimensional Fund Advisors LP boosted its position 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 buying an additional 29,553 shares during the period. Renaissance Technologies LLC boosted its position in shares of Apollo Endosurgery by 88.7% during the third quarter. Renaissance Technologies LLC now owns 85,500 shares of the biotechnology company’s stock worth $613,000 after buying an additional 40,200 shares during the period. Vanguard Group Inc. boosted its position 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. Finally, Vanguard Group Inc boosted its position 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. Institutional investors and hedge funds own 39.26% of the company’s stock.

Shares of Apollo Endosurgery stock opened at $3.55 on Friday. The company has a market capitalization of $77.78 million, a P/E ratio of -1.85 and a beta of 0.74. Apollo Endosurgery has a fifty-two week low of $3.02 and a fifty-two week high of $9.65. The company has a quick ratio of 1.56, a current ratio of 1.97 and a debt-to-equity ratio of 0.73.

About Apollo Endosurgery

Apollo Endosurgery, Inc, a medical technology company, focuses on the design, development, and commercialization of medical devices. It develops and distributes devices for minimally invasive surgical and non-surgical bariatric and gastrointestinal procedures that are used by surgeons and gastroenterologists in various settings to provide interventional therapy to patients who suffer from obesity and various co-morbidities associated with obesity, as well as treat various other gastrointestinal conditions.

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