Endologix Inc. (ELGX) Sees Large Volume Increase
Shares of Endologix Inc. (NASDAQ:ELGX) saw an uptick in trading volume on Thursday . 1,197,870 shares traded hands during trading, a decline of 12% from the previous session’s volume of 1,365,872 shares.The stock last traded at $13.66 and had previously closed at $13.15.
ELGX has been the topic of several recent research reports. BTIG Research restated a “buy” rating on shares of Endologix in a research report on Sunday, May 29th. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Endologix in a research report on Tuesday, May 10th. Canaccord Genuity restated a “hold” rating on shares of Endologix in a research report on Tuesday, May 10th. BMO Capital Markets restated a “hold” rating and set a $11.50 price target on shares of Endologix in a research report on Tuesday, May 10th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $15.00 price target on shares of Endologix in a research report on Monday, June 13th. One analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. Endologix presently has an average rating of “Buy” and an average price target of $14.55.
The stock’s market capitalization is $1.12 billion. The company’s 50-day moving average price is $12.59 and its 200-day moving average price is $10.01.
Endologix (NASDAQ:ELGX) last posted its earnings results on Monday, May 9th. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by $0.01. The company earned $42.40 million during the quarter, compared to the consensus estimate of $38.78 million. During the same quarter in the prior year, the company earned ($0.14) EPS. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, equities analysts expect that Endologix Inc. will post ($0.79) earnings per share for the current year.
In related news, President Robert D. Mitchell sold 2,294 shares of the business’s stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $12.55, for a total value of $28,789.70. Following the sale, the president now directly owns 318,233 shares in the company, valued at $3,993,824.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gregory D. Waller sold 7,800 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $12.86, for a total value of $100,308.00. Following the completion of the sale, the director now owns 27,728 shares in the company, valued at $356,582.08. The disclosure for this sale can be found here.
Other large investors have recently bought and sold shares of the company. California State Teachers Retirement System increased its stake in shares of Endologix by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 124,973 shares of the company’s stock worth $1,237,000 after buying an additional 2,243 shares during the period. Stoneridge Investment Partners LLC bought a new stake in shares of Endologix during the fourth quarter worth about $1,430,000. New York State Common Retirement Fund increased its stake in shares of Endologix by 134.0% in the fourth quarter. New York State Common Retirement Fund now owns 150,020 shares of the company’s stock worth $1,485,000 after buying an additional 85,920 shares during the period. Oxford Asset Management increased its stake in shares of Endologix by 225.4% in the fourth quarter. Oxford Asset Management now owns 342,657 shares of the company’s stock worth $3,432,000 after buying an additional 237,350 shares during the period. Finally, Tamarack Advisers LP bought a new stake in shares of Endologix during the fourth quarter worth about $44,303,000.
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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