Russell Investments Group Ltd. bought a new position in Endologix, Inc. (NASDAQ:ELGX) in the 3rd quarter, Holdings Channel.com reports. The fund bought 24,050 shares of the medical instruments supplier’s stock, valued at approximately $96,000.

A number of other hedge funds have also modified their holdings of ELGX. First Light Asset Management LLC bought a new stake in Endologix during the second quarter valued at about $17,828,000. Morgan Stanley grew its position in shares of Endologix by 1,395.2% during the second quarter. Morgan Stanley now owns 722,419 shares of the medical instruments supplier’s stock worth $5,230,000 after purchasing an additional 674,103 shares in the last quarter. Renaissance Technologies LLC raised its stake in Endologix by 868.3% during the 2nd quarter. Renaissance Technologies LLC now owns 613,906 shares of the medical instruments supplier’s stock valued at $4,445,000 after purchasing an additional 550,506 shares during the period. Vanguard Group Inc. raised its stake in Endologix by 32.6% during the 2nd quarter. Vanguard Group Inc. now owns 692,351 shares of the medical instruments supplier’s stock valued at $5,012,000 after purchasing an additional 170,316 shares during the period. Finally, Marshall Wace North America L.P. bought a new stake in Endologix during the 2nd quarter valued at approximately $796,000. Institutional investors and hedge funds own 75.64% of the company’s stock.

Shares of NASDAQ ELGX opened at $2.49 on Friday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.55 and a current ratio of 2.22. The company has a market cap of $45.39 million, a P/E ratio of -0.35 and a beta of 0.25. The firm’s fifty day moving average is $2.99 and its two-hundred day moving average is $5.24. Endologix, Inc. has a 52-week low of $2.28 and a 52-week high of $8.95.

Endologix (NASDAQ:ELGX) last announced its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.08. Endologix had a negative net margin of 58.24% and a negative return on equity of 99.62%. The business had revenue of $35.78 million for the quarter, compared to analysts’ expectations of $35.26 million. As a group, analysts forecast that Endologix, Inc. will post -2.69 EPS for the current fiscal year.

ELGX has been the subject of several recent analyst reports. ValuEngine downgraded Endologix from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada set a $7.00 price objective on shares of Endologix and gave the company a “hold” rating in a report on Friday, August 9th. Finally, Zacks Investment Research cut shares of Endologix from a “hold” rating to a “sell” rating in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $7.17.

About Endologix

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular aneurysm repair (EVAR), including AFX (Anatomical Fixation) endovascular AAA system, which is a minimally invasive delivery system; VELA Proximal Endograft, which is designed for the treatment of proximal aortic neck anatomies with AFX; and the Ovation abdominal stent graft system.

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Institutional Ownership by Quarter for Endologix (NASDAQ:ELGX)

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