Brokerages Set Endologix Inc. (NASDAQ:ELGX) PT at $13.64
Shares of Endologix Inc. (NASDAQ:ELGX) have received an average rating of “Buy” from the thirteen analysts that are covering the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.64.
ELGX has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Endologix from a “hold” rating to a “sell” rating in a research note on Tuesday, October 4th. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $16.00 price objective (up from $15.00) on shares of Endologix in a report on Wednesday, July 6th. RBC Capital Markets lowered shares of Endologix from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $17.00 to $12.00 in a report on Wednesday, August 3rd. BMO Capital Markets raised shares of Endologix from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $11.50 to $16.00 in a report on Thursday, July 7th. Finally, Leerink Swann initiated coverage on shares of Endologix in a report on Tuesday, September 6th. They set a “market perform” rating and a $13.00 price objective on the stock.
Endologix (NASDAQ:ELGX) opened at 12.87 on Thursday. Endologix has a 12-month low of $6.51 and a 12-month high of $14.50. The stock’s 50 day moving average price is $12.49 and its 200 day moving average price is $11.98. The company’s market capitalization is $1.06 billion.
Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.13) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. Endologix had a negative net margin of 82.39% and a negative return on equity of 41.88%. The firm earned $51 million during the quarter, compared to the consensus estimate of $46.30 million. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. The company’s revenue was up 29.1% on a year-over-year basis. On average, equities analysts anticipate that Endologix will post ($0.74) EPS for the current fiscal year.
In other news, VP Jose A. Lima sold 4,710 shares of the business’s stock in a transaction on Friday, August 19th. The shares were sold at an average price of $11.68, for a total transaction of $55,012.80. Following the sale, the vice president now directly owns 42,594 shares of the company’s stock, valued at $497,497.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael V. Chobotov sold 14,000 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $12.40, for a total transaction of $173,600.00. Following the sale, the insider now directly owns 189,269 shares in the company, valued at $2,346,935.60. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Several large investors have recently made changes to their positions in ELGX. BlackRock Institutional Trust Company N.A. raised its stake in shares of Endologix by 4.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,827,084 shares of the company’s stock worth $15,274,000 after buying an additional 79,354 shares during the period. NN Investment Partners Holdings N.V. bought a new stake in shares of Endologix during the first quarter worth $662,000. Palisade Capital Management LLC NJ raised its stake in shares of Endologix by 3.9% in the first quarter. Palisade Capital Management LLC NJ now owns 2,138,230 shares of the company’s stock worth $17,876,000 after buying an additional 80,944 shares during the period. AXA raised its stake in shares of Endologix by 52.4% in the first quarter. AXA now owns 585,437 shares of the company’s stock worth $4,894,000 after buying an additional 201,395 shares during the period. Finally, Altrinsic Global Advisors LLC raised its stake in shares of Endologix by 9.4% in the first quarter. Altrinsic Global Advisors LLC now owns 580,000 shares of the company’s stock worth $4,849,000 after buying an additional 50,000 shares during the period.
Endologix, Inc is engaged in developing, manufacturing, marketing and selling medical devices for the treatment of aortic disorders. The Company’s products are intended for the treatment of abdominal aortic aneurysms (AAA). The AAA products are built on one of two platforms, including traditional minimally invasive endovascular repair (EVAR) or endovascular sealing (EVAS), its solution for sealing the aneurysm sac while maintaining blood flow through two blood flow lumens.
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