$16.67 Million in Sales Expected for Apollo Endosurgery, Inc. (APEN) This Quarter
Wall Street analysts expect that Apollo Endosurgery, Inc. (NASDAQ:APEN) will report sales of $16.67 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Apollo Endosurgery’s earnings. The highest sales estimate is $16.99 million and the lowest is $16.34 million. Apollo Endosurgery posted sales of $15.39 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The firm is expected to issue its next earnings results on Wednesday, March 14th.
On average, analysts expect that Apollo Endosurgery will report full year sales of $16.67 million for the current fiscal year, with estimates ranging from $64.64 million to $65.30 million. For the next fiscal year, analysts expect that the business will report sales of $68.30 million per share, with estimates ranging from $67.20 million to $69.39 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Apollo Endosurgery.
APEN has been the topic of several research reports. Northland Securities restated a “buy” rating on shares of Apollo Endosurgery in a research report on Friday, October 27th. Zacks Investment Research upgraded Apollo Endosurgery from a “hold” rating to a “buy” rating and set a $4.75 target price on the stock in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $9.44.
Institutional investors have recently bought and sold shares of the company. Stonepine Capital Management LLC purchased a new stake in shares of Apollo Endosurgery in the 3rd quarter valued at about $11,067,000. King Luther Capital Management Corp purchased a new stake in shares of Apollo Endosurgery in the 3rd quarter valued at about $2,567,000. Russell Investments Group Ltd. purchased a new stake in shares of Apollo Endosurgery in the 3rd quarter valued at about $1,288,000. Woodmont Investment Counsel LLC purchased a new stake in shares of Apollo Endosurgery in the 3rd quarter valued at about $220,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Apollo Endosurgery in the 3rd quarter valued at about $119,000. 23.67% of the stock is owned by institutional investors and hedge funds.
Apollo Endosurgery (NASDAQ:APEN) remained flat at $$5.60 during midday trading on Friday. 96,218 shares of the company traded hands, compared to its average volume of 110,897. Apollo Endosurgery has a 1 year low of $3.55 and a 1 year high of $21.88. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.54 and a quick ratio of 2.00.
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Apollo Endosurgery Company Profile
Apollo Endosurgery, Inc, formerly Lpath, Inc, is a medical device company. The Company is focused on less invasive therapies for the treatment of obesity, as well as other gastrointestinal disorders. The Company’s device-based therapies are an alternative to invasive surgical procedures. The Company offers products in over 80 countries.
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