Guggenheim Lowers Endologix Inc. (ELGX) to Neutral
Guggenheim lowered shares of Endologix Inc. (NASDAQ:ELGX) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning, The Fly reports.
Several other research analysts also recently issued reports on ELGX. Canaccord Genuity set a $15.00 price objective on shares of Endologix and gave the stock a buy rating in a research report on Sunday, October 30th. Leerink Swann set a $13.00 price objective on shares of Endologix and gave the stock a hold rating in a research report on Saturday, September 17th. Piper Jaffray Cos. reissued an overweight rating and set a $15.00 price objective on shares of Endologix in a research report on Wednesday, August 3rd. BTIG Research reissued a buy rating and set a $16.00 price objective on shares of Endologix in a research report on Wednesday, August 3rd. Finally, Zacks Investment Research raised shares of Endologix from a sell rating to a hold rating and set a $11.00 price objective on the stock in a research report on Friday, November 4th. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Endologix currently has an average rating of Hold and a consensus price target of $12.08.
Shares of Endologix (NASDAQ:ELGX) opened at 7.69 on Wednesday. The firm’s market cap is $635.89 million. The stock has a 50 day moving average of $11.14 and a 200 day moving average of $12.20. Endologix has a 12 month low of $6.22 and a 12 month high of $14.49.
Endologix (NASDAQ:ELGX) last issued its quarterly earnings data on Tuesday, November 1st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 business had revenue of $52.12 million for the quarter, compared to analysts’ expectations of $51.83 million. During the same period in the previous year, the business posted ($0.16) earnings per share. The company’s revenue for the quarter was up 36.3% on a year-over-year basis. On average, equities research analysts expect that Endologix will post ($0.71) EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the company. Swiss National Bank boosted its position in shares of Endologix by 3.1% in the second quarter. Swiss National Bank now owns 124,900 shares of the company’s stock worth $1,556,000 after buying an additional 3,700 shares during the last quarter. Societe Generale acquired a new position in shares of Endologix during the second quarter worth about $1,098,000. California State Teachers Retirement System boosted its position in shares of Endologix by 9.3% in the second quarter. California State Teachers Retirement System now owns 169,985 shares of the company’s stock worth $2,118,000 after buying an additional 14,459 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Endologix by 40.1% in the second quarter. Bank of New York Mellon Corp now owns 466,721 shares of the company’s stock worth $5,815,000 after buying an additional 133,676 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new position in shares of Endologix during the second quarter worth about $215,000.
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.
Receive News & Stock Ratings for Endologix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endologix Inc. and related stocks with our FREE daily email newsletter.