Endologix Inc. (ELGX) Downgraded by Canaccord Genuity to “Hold”
Canaccord Genuity lowered shares of Endologix Inc. (NASDAQ:ELGX) from a buy rating to a hold rating in a research note released on Wednesday. Canaccord Genuity currently has $7.50 price objective on the stock, down from their previous price objective of $13.50.
A number of other equities analysts have also recently weighed in on ELGX. Royal Bank Of Canada cut Endologix from an outperform rating to a sector perform rating and reduced their price target for the stock from $17.00 to $12.00 in a report on Wednesday, August 3rd. RBC Capital Markets cut Endologix from an outperform rating to a sector perform rating and reduced their price target for the stock from $17.00 to $12.00 in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. set a $15.00 price target on Endologix and gave the stock a buy rating in a report on Wednesday, August 3rd. Piper Jaffray Cos. reissued an overweight rating and set a $15.00 target price on shares of Endologix in a report on Wednesday, August 3rd. Finally, BTIG Research reissued a buy rating and set a $16.00 target price on shares of Endologix in a report on Wednesday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $12.31.
Endologix (NASDAQ:ELGX) traded down 1.79% during trading on Wednesday, reaching $7.68. The company’s stock had a trading volume of 2,322,893 shares. Endologix has a one year low of $6.22 and a one year high of $14.49. The firm’s market capitalization is $635.07 billion. The stock has a 50-day moving average of $11.31 and a 200 day moving average of $12.23.
Endologix (NASDAQ:ELGX) last issued its earnings results on Tuesday, November 1st. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.03. Endologix had a negative return on equity of 39.12% and a negative net margin of 78.53%. The company earned $52.12 million during the quarter, compared to analysts’ expectations of $51.83 million. During the same quarter in the previous year, the company earned ($0.16) EPS. The firm’s quarterly revenue was up 36.3% compared to the same quarter last year. On average, equities research analysts predict that Endologix will post ($0.71) EPS for the current fiscal year.
In related 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 transaction, the vice president now owns 42,594 shares of the company’s stock, valued at $497,497.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Elk Creek Partners LLC raised its position in Endologix by 14.7% in the second quarter. Elk Creek Partners LLC now owns 1,482,885 shares of the company’s stock worth $18,477,000 after buying an additional 190,453 shares in the last quarter. Brown Capital Management LLC bought a new position in Endologix during the second quarter worth about $60,477,000. Stephens Inc. AR raised its position in Endologix by 16.2% in the second quarter. Stephens Inc. AR now owns 93,860 shares of the company’s stock worth $1,169,000 after buying an additional 13,053 shares in the last quarter. SG Americas Securities LLC bought a new position in Endologix during the second quarter worth about $1,098,000. Finally, Rothschild Asset Management Inc. bought a new position in Endologix during the second quarter worth about $364,000.
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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