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

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

OTCMKTS:RSLS traded down $0.04 on Wednesday, reaching $0.77. 49,938 shares of the stock traded hands, compared to its average volume of 167,840. The firm has a market capitalization of $14.37 million, a price-to-earnings ratio of -0.13 and a beta of -0.60. The company’s 50 day moving average is $1.01 and its 200-day moving average is $1.39. ReShape Lifesciences has a 1-year low of $0.65 and a 1-year high of $14.40.

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

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in ReShape Lifesciences by 225.3% during the 4th quarter. Geode Capital Management LLC now owns 225,696 shares of the medical device company’s stock valued at $370,000 after purchasing an additional 156,307 shares during the period. Morgan Stanley grew its position in shares of ReShape Lifesciences by 2,631,525.0% during the 3rd quarter. Morgan Stanley now owns 105,265 shares of the medical device company’s stock worth $303,000 after buying an additional 105,261 shares during the period. Two Sigma Investments LP acquired a new stake in shares of ReShape Lifesciences during the 3rd quarter worth approximately $116,000. GSA Capital Partners LLP acquired a new stake in shares of ReShape Lifesciences during the 1st quarter worth approximately $43,000. Finally, Millennium Management LLC acquired a new stake in shares of ReShape Lifesciences during the 4th quarter worth approximately $55,000. 16.86% of the stock is owned by institutional investors and hedge funds.

ReShape Lifesciences Company Profile (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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