Brokerages expect Apollo Endosurgery Inc (NASDAQ:APEN) to announce $16.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Apollo Endosurgery’s earnings. The lowest sales estimate is $15.98 million and the highest is $16.42 million. Apollo Endosurgery reported sales of $16.54 million in the same quarter last year, which indicates a negative year-over-year growth rate of 2%. The business is scheduled to issue its next earnings results on Thursday, October 25th.

On average, analysts expect that Apollo Endosurgery will report full year sales of $65.25 million for the current fiscal year, with estimates ranging from $64.18 million to $66.27 million. For the next fiscal year, analysts expect that the company will report sales of $69.91 million, with estimates ranging from $68.07 million to $71.65 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Apollo Endosurgery.

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

A number of research analysts have recently issued reports on APEN shares. Northland Securities downgraded shares of Apollo Endosurgery from an “outperform” rating to a “market perform” rating in a research report on Thursday, August 9th. Roth Capital restated a “neutral” rating and issued a $9.50 price target on shares of Apollo Endosurgery in a research report on Tuesday, July 17th. Finally, ValuEngine upgraded shares of Apollo Endosurgery from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Apollo Endosurgery has a consensus rating of “Hold” and a consensus target price of $8.56.

Several institutional investors have recently added to or reduced their stakes in APEN. Dimensional Fund Advisors LP acquired a new position in shares of Apollo Endosurgery during the 1st quarter valued at $378,000. Russell Investments Group Ltd. lifted its position in shares of Apollo Endosurgery by 7.5% during the 1st quarter. Russell Investments Group Ltd. now owns 331,163 shares of the biotechnology company’s stock valued at $2,037,000 after acquiring an additional 23,128 shares during the period. Gagnon Securities LLC acquired a new position in shares of Apollo Endosurgery during the 2nd quarter valued at $2,521,000. BlackRock Inc. lifted its position in shares of 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 acquiring an additional 6,775 shares during the period. Finally, Gagnon Advisors LLC acquired a new position in shares of Apollo Endosurgery during the 2nd quarter valued at $1,752,000. Institutional investors own 39.13% of the company’s stock.

Shares of NASDAQ APEN traded down $0.06 during midday trading on Wednesday, reaching $6.19. The stock had a trading volume of 5,515 shares, compared to its average volume of 22,885. The company has a market capitalization of $136.74 million, a P/E ratio of -3.08 and a beta of 0.03. Apollo Endosurgery has a twelve month low of $3.75 and a twelve month high of $9.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.18 and a current ratio of 2.87.

Apollo Endosurgery Company Profile

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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