Guido J. Neels Acquires 13,000 Shares of Endologix Inc. (ELGX) Stock
Endologix Inc. (NASDAQ:ELGX) Director Guido J. Neels purchased 13,000 shares of the business’s stock in a transaction on Friday, November 18th. The stock was purchased at an average cost of $7.69 per share, for a total transaction of $99,970.00. Following the completion of the acquisition, the director now directly owns 41,380 shares of the company’s stock, valued at approximately $318,212.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Endologix Inc. (NASDAQ:ELGX) traded up 0.330% on Tuesday, hitting $7.595. 1,319,022 shares of the company’s stock were exchanged. The stock’s market cap is $628.04 million. Endologix Inc. has a 12-month low of $6.22 and a 12-month high of $14.50. The company’s 50-day moving average price is $10.89 and its 200 day moving average price is $12.16.
Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Tuesday, November 1st. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.03. Endologix had a negative net margin of 78.53% and a negative return on equity of 39.12%. The firm earned $52.12 million during the quarter, compared to analyst estimates of $51.83 million. During the same quarter in the previous year, the business posted ($0.16) earnings per share. Endologix’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, equities analysts predict that Endologix Inc. will post ($0.71) earnings per share for the current fiscal year.
ELGX has been the topic of several analyst reports. Oppenheimer Holdings Inc. set a $15.00 price target on shares of Endologix and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Zacks Investment Research lowered shares of Endologix from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. BMO Capital Markets lowered shares of Endologix from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $14.00 to $9.50 in a report on Wednesday, November 16th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Endologix in a report on Wednesday, August 3rd. Finally, Canaccord Genuity lowered shares of Endologix from a “buy” rating to a “hold” rating and cut their price target for the stock from $13.50 to $7.50 in a report on Wednesday, November 16th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $11.77.
Several large investors have recently made changes to their positions in ELGX. Brown Capital Management LLC bought a new position in Endologix during the second quarter worth approximately $60,477,000. Redmile Group LLC increased 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 period. 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 increased 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 period. Finally, Senzar Asset Management LLC bought a new position in Endologix during the second quarter worth approximately $10,090,000.
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.
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