Eargo, Inc. (NASDAQ:EAR) Expected to Announce Earnings of -$0.25 Per Share

Analysts expect Eargo, Inc. (NASDAQ:EAR) to post earnings per share of ($0.25) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Eargo’s earnings, with the highest EPS estimate coming in at ($0.23) and the lowest estimate coming in at ($0.29). The firm is scheduled to announce its next earnings report on Wednesday, August 11th.

According to Zacks, analysts expect that Eargo will report full-year earnings of ($0.95) per share for the current financial year, with EPS estimates ranging from ($1.02) to ($0.86). For the next financial year, analysts expect that the business will report earnings of ($0.64) per share, with EPS estimates ranging from ($0.85) to ($0.51). Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Eargo.

Eargo (NASDAQ:EAR) last announced its earnings results on Wednesday, May 12th. The company reported ($0.22) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.27) by $0.05. The business had revenue of $22.05 million for the quarter, compared to analysts’ expectations of $19.71 million.

A number of equities analysts have weighed in on EAR shares. Zacks Investment Research lowered shares of Eargo from a “buy” rating to a “hold” rating in a research report on Wednesday, July 14th. Wells Fargo & Company dropped their price target on shares of Eargo from $68.00 to $52.00 and set an “overweight” rating for the company in a research report on Wednesday, May 19th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.50.

EAR stock traded down $0.49 during midday trading on Thursday, reaching $34.67. 9,020 shares of the company’s stock traded hands, compared to its average volume of 408,549. Eargo has a 52-week low of $30.71 and a 52-week high of $76.75. The stock’s 50-day moving average is $35.80. The company has a current ratio of 9.34, a quick ratio of 9.23 and a debt-to-equity ratio of 0.08.

In other Eargo news, major shareholder Healthcare Holding B.V. Gilde sold 227,615 shares of the stock in a transaction on Monday, April 26th. The shares were sold at an average price of $53.16, for a total transaction of $12,100,013.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Adam Laponis sold 10,000 shares of the stock in a transaction on Tuesday, June 29th. The shares were sold at an average price of $38.43, for a total transaction of $384,300.00. The disclosure for this sale can be found here. Insiders have sold 706,878 shares of company stock valued at $37,609,518 in the last quarter.

Institutional investors and hedge funds have recently made changes to their positions in the company. RMR Wealth Builders purchased a new stake in shares of Eargo in the fourth quarter valued at $45,000. Lazard Asset Management LLC purchased a new stake in shares of Eargo in the fourth quarter valued at $45,000. Quantbot Technologies LP purchased a new stake in shares of Eargo in the first quarter valued at $59,000. Citigroup Inc. purchased a new stake in shares of Eargo in the fourth quarter valued at $67,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Eargo in the fourth quarter valued at $202,000. 47.55% of the stock is currently owned by institutional investors and hedge funds.

About Eargo

Eargo, Inc, a medical device company, develops and sells hearing aids to assist people with hearing loss in the United States. It sells its products through online stores. The company was formerly known as Aria Innovations, Inc and changed its name to Eargo, Inc in November 2014. Eargo, Inc was founded in 2010 and is headquartered in San Jose, California.

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