Endologix Inc. (ELGX) Downgraded to “Hold” at Zacks Investment Research
Endologix Inc. (NASDAQ:ELGX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
According to Zacks, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis. “
Several other brokerages have also commented on ELGX. BMO Capital Markets reissued a “buy” rating and issued a $15.00 price target on shares of Endologix in a report on Wednesday, August 3rd. BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of Endologix in a report on Wednesday, August 3rd. Piper Jaffray Cos. reaffirmed an “overweight” rating and set a $15.00 target price on shares of Endologix in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. set a $15.00 target price on shares of Endologix and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, RBC Capital Markets lowered shares of Endologix from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $17.00 to $12.00 in a report on Wednesday, August 3rd. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Endologix presently has an average rating of “Hold” and an average target price of $11.77.
Endologix (NASDAQ:ELGX) traded down 0.53% on Tuesday, reaching $7.53. 2,141,415 shares of the company traded hands. The stock’s market capitalization is $622.66 million. The stock has a 50 day moving average of $10.75 and a 200-day moving average of $12.13. Endologix has a 1-year low of $6.22 and a 1-year high of $14.49.
Endologix (NASDAQ:ELGX) last issued its quarterly earnings results on Tuesday, November 1st. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.15) by $0.03. The company earned $52.12 million during 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%. Endologix’s revenue was up 36.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.16) EPS. On average, equities analysts anticipate that Endologix will post ($0.71) EPS for the current year.
In related news, Director Guido J. Neels bought 13,000 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were bought at an average price of $7.69 per share, with a total value of $99,970.00. Following the completion of the transaction, the director now directly owns 41,380 shares of the company’s stock, valued at approximately $318,212.20. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of ELGX. Brown Capital Management LLC bought a new position in Endologix during the second quarter worth approximately $60,477,000. Redmile Group LLC boosted its position in Endologix by 60.5% in the second quarter. Redmile Group LLC now owns 3,962,753 shares of the company’s stock worth $49,376,000 after buying an additional 1,493,906 shares during the last quarter. Columbia Wanger Asset Management LLC bought a new position in Endologix during the second quarter worth approximately $14,328,000. Price T Rowe Associates Inc. MD boosted its position in Endologix by 1,983.9% in the third quarter. Price T Rowe Associates Inc. MD now owns 1,048,200 shares of the company’s stock worth $13,417,000 after buying an additional 997,900 shares during the last quarter. Finally, Senzar Asset Management LLC bought a new position in Endologix during the second quarter worth approximately $10,090,000.
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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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