Endologix Inc. (ELGX) Downgraded by BMO Capital Markets to “Market Perform”
BMO Capital Markets downgraded shares of Endologix Inc. (NASDAQ:ELGX) from an outperform rating to a market perform rating in a report released on Wednesday. They currently have $9.50 price target on the stock, down from their previous price target of $14.00.
Several other brokerages have also commented on ELGX. Canaccord Genuity set a $15.00 price objective on Endologix and gave the company a buy rating in a report on Sunday, October 30th. Leerink Swann set a $13.00 price objective on Endologix and gave the company a hold rating in a report on Saturday, September 17th. Guggenheim lowered Endologix from a buy rating to a neutral rating in a report on Wednesday. BTIG Research reiterated a buy rating and set a $16.00 price objective on shares of Endologix in a report on Wednesday, August 3rd. Finally, Oppenheimer Holdings Inc. set a $15.00 price objective on Endologix and gave the company a buy rating in a report on Wednesday, August 3rd. Eight analysts have rated the stock with a hold rating and five have given a buy rating to the company. Endologix has an average rating of Hold and a consensus price target of $12.31.
Shares of Endologix (NASDAQ:ELGX) traded down 1.79% during mid-day trading on Wednesday, hitting $7.68. The company had a trading volume of 2,322,893 shares. The company has a 50-day moving average price of $11.31 and a 200-day moving average price of $12.23. The company’s market capitalization is $635.07 billion. Endologix has a 1-year low of $6.22 and a 1-year high of $14.49.
Endologix (NASDAQ:ELGX) last posted its earnings results on Tuesday, November 1st. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. The company had revenue of $52.12 million for the quarter, compared to analysts’ expectations of $51.83 million. Endologix had a negative return on equity of 39.12% and a negative net margin of 78.53%. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.16) EPS. On average, equities analysts anticipate that Endologix will post ($0.71) EPS for the current year.
In other news, VP Jose A. Lima sold 4,710 shares of the firm’s stock in a transaction dated Friday, August 19th. The stock was 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 in the company, valued at approximately $497,497.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 3.90% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Principal Financial Group Inc. boosted its stake in Endologix by 1.4% in the third quarter. Principal Financial Group Inc. now owns 10,988 shares of the company’s stock worth $141,000 after buying an additional 147 shares during the period. Rhumbline Advisers boosted its stake in Endologix by 0.4% in the third quarter. Rhumbline Advisers now owns 84,493 shares of the company’s stock worth $1,082,000 after buying an additional 360 shares during the period. Rothschild Asset Management Inc. boosted its stake in Endologix by 2.1% in the third quarter. Rothschild Asset Management Inc. now owns 29,828 shares of the company’s stock worth $382,000 after buying an additional 608 shares during the period. JPMorgan Chase & Co. boosted its stake in Endologix by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 32,972 shares of the company’s stock worth $422,000 after buying an additional 608 shares during the period. Finally, Teacher Retirement System of Texas boosted its stake in Endologix by 15.8% in the second quarter. Teacher Retirement System of Texas now owns 10,333 shares of the company’s stock worth $129,000 after buying an additional 1,407 shares during the period.
Endologix Company Profile
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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