EnteroMedics Inc. (NASDAQ:ETRM) announced its earnings results on Tuesday, August 8th. The medical device company reported ($0.91) EPS for the quarter, beating the Zacks’ consensus estimate of ($1.00) by $0.09, Bloomberg Earnings reports. EnteroMedics had a negative net margin of 4,399.48% and a negative return on equity of 167.73%. The business had revenue of $0.09 million during the quarter, compared to analysts’ expectations of $0.20 million.
EnteroMedics (ETRM) traded down 1.04% during trading on Friday, hitting $1.91. 322,979 shares of the company’s stock were exchanged. EnteroMedics has a 12-month low of $0.04 and a 12-month high of $30.41. The firm’s market cap is $15.84 million. The company’s 50-day moving average price is $3.91 and its 200 day moving average price is $5.19.
An institutional investor recently raised its position in EnteroMedics stock. Vanguard Group Inc. raised its position in EnteroMedics Inc. (NASDAQ:ETRM) by 24.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,740 shares of the medical device company’s stock after buying an additional 9,727 shares during the period. Vanguard Group Inc. owned 0.72% of EnteroMedics worth $248,000 at the end of the most recent quarter. 2.80% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have commented on ETRM. Zacks Investment Research raised shares of EnteroMedics from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a report on Friday, July 21st. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating and set a $11.00 target price on shares of EnteroMedics in a report on Thursday, May 25th.
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EnteroMedics Company Profile
EnteroMedics Inc (EnteroMedics) is a medical device company. The Company is focused on the design and development of devices that use neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders. The Company’s neuroblocking technology, which is referred to as VBLOC therapy, is designed to intermittently block the vagus nerve.
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