ReShape Lifesciences (OTCMKTS:RSLS) Releases Earnings Results, Misses Expectations By $0.10 EPS

ReShape Lifesciences (OTCMKTS:RSLSGet Rating) issued its quarterly earnings results on Monday. The medical device company reported ($0.44) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.10), Fidelity Earnings reports. The firm had revenue of $2.44 million during the quarter.

Shares of RSLS stock opened at $0.77 on Wednesday. The firm has a market cap of $14.37 million, a price-to-earnings ratio of -0.13 and a beta of -0.60. The stock’s fifty day simple moving average is $1.01 and its 200 day simple moving average is $1.39. ReShape Lifesciences has a one year low of $0.65 and a one year high of $14.40.

Several hedge funds have recently bought and sold shares of the company. Sassicaia Capital Advisers LLC bought a new position in ReShape Lifesciences during the 3rd quarter worth $29,000. GSA Capital Partners LLP acquired a new stake in ReShape Lifesciences in the first quarter valued at approximately $43,000. Millennium Management LLC acquired a new position in ReShape Lifesciences during the fourth quarter worth $55,000. Northern Trust Corp acquired a new position in ReShape Lifesciences during the 4th quarter valued at about $55,000. Finally, Two Sigma Investments LP purchased a new stake in shares of ReShape Lifesciences in the third quarter worth approximately $116,000. 16.86% of the stock is owned by institutional investors.

Separately, Maxim Group decreased their target price on ReShape Lifesciences from $8.00 to $4.00 in a report on Tuesday, March 29th.

About ReShape Lifesciences (Get Rating)

ReShape Lifesciences Inc, a medical device company, provides products and services that manages and treat obesity and metabolic diseases in the United States, Australia, Europe, and internationally. The company's product portfolio includes Lap-Band System, a minimally invasive long-term treatment of severe obesity and more invasive surgical stapling procedures, such as the gastric bypass or sleeve gastrectomy; and ReShape Vest system, an investigational, minimally invasive, laparoscopically implanted medical device that wraps around the stomach to enable weight loss in obese and morbidly obese patients without cutting or permanently removing portions of the stomach, or bypassing any portion of the gastrointestinal tract.

Further Reading

Earnings History for ReShape Lifesciences (OTCMKTS:RSLS)

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