Anteris Technologies Global (NASDAQ:AVR) Releases Earnings Results, Beats Estimates By $0.03 EPS

Key Points

• Anteris Technologies Global reported a quarterly loss of $0.28 per share, beating analyst estimates of a $0.31 loss by $0.03. Revenue was $0.52 million, well below the $2.75 million expected.
• The stock fell 0.8% to $5.89 in Tuesday trading. Analysts’ average rating is “Hold,” with a consensus price target of $14.
• Major shareholder L1 Capital bought 648,455 shares for about $4.87 million, increasing its stake by 5.35%; insiders acquired roughly $11.7 million in shares over the past three months.

Anteris Technologies Global (NASDAQ:AVR - Get Free Report) posted its quarterly earnings results on Tuesday. The company reported ($0.28) EPS for the quarter, topping analysts' consensus estimates of ($0.31) by $0.03, FiscalAI reports. The company had revenue of $0.52 million during the quarter, compared to analysts' expectations of $2.75 million. Anteris Technologies Global had a negative return on equity of 77.69% and a negative net margin of 4,619.27%.

Anteris Technologies Global Stock Down 0.8%

Shares of NASDAQ AVR traded down $0.05 during midday trading on Tuesday, reaching $5.89. 778,730 shares of the company were exchanged, compared to its average volume of 1,161,049. The stock's 50-day moving average price is $7.18 and its 200-day moving average price is $7.39. The stock has a market cap of $574.04 million, a P/E ratio of -3.02 and a beta of 2.02. Anteris Technologies Global has a one year low of $3.30 and a one year high of $11.06.

Wall Street Analyst Weigh In

AVR has been the topic of a number of recent analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Anteris Technologies Global in a research report on Wednesday, August 26th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 target price on shares of Anteris Technologies Global in a research note on Wednesday, October 14th. Finally, Barclays raised shares of Anteris Technologies Global to a "hold" rating in a report on Wednesday, October 7th. Three analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.00.

Insider Activity at Anteris Technologies Global

In other news, major shareholder L1 Capital Pty Ltd purchased 648,455 shares of the company's stock in a transaction dated Monday, October 5th. The stock was bought at an average cost of $7.51 per share, for a total transaction of $4,869,897.05. Following the purchase, the insider owned 12,778,380 shares of the company's stock, valued at approximately $95,965,633.80. The trade was a 5.35% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders acquired 1,554,730 shares of company stock valued at $11,694,513. 4.50% of the stock is currently owned by corporate insiders.

Anteris Technologies Global Company Profile

Anteris Technologies Global is a medical technology company focused on developing treatments for structural heart disease, particularly aortic valve conditions. Its work centers on transcatheter heart valve technology, which is designed to replace a damaged valve through a minimally invasive procedure. The company's lead product is the DurAVR transcatheter heart valve. It is made using Anteris' ADAPT tissue technology, which processes bovine pericardial tissue for use in medical devices. The valve is designed to resemble the structure and function of a healthy aortic valve.

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