Endologix Inc. (ELGX) Sees Strong Trading Volume
Endologix Inc. (NASDAQ:ELGX) shares saw unusually-strong trading volume on Thursday . Approximately 1,197,870 shares were traded 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.
A number of analysts recently weighed in on ELGX shares. Zacks Investment Research cut shares of Endologix from a “hold” rating to a “strong sell” rating in a research note on Monday, April 25th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $16.00 target price (up previously from $15.00) on shares of Endologix in a research note on Wednesday. JPMorgan Chase & Co. assumed coverage on shares of Endologix in a research note on Monday, April 4th. They issued an “overweight” rating and a $11.00 target price for the company. BMO Capital Markets upgraded shares of Endologix from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $11.50 to $16.00 in a research note on Thursday. Finally, Guggenheim assumed coverage on shares of Endologix in a research note on Wednesday, June 8th. They issued a “buy” rating and a $16.00 target price for the company. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $14.55.
The firm’s market capitalization is $1.17 billion. The firm’s 50-day moving average is $12.65 and its 200-day moving average is $10.04.
Endologix (NASDAQ:ELGX) last released its earnings results on Monday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by $0.01. The business had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $38.78 million. During the same period last year, the firm posted ($0.14) EPS. Endologix’s revenue was up 15.5% compared to the same quarter last year. Analysts anticipate that Endologix Inc. will post ($0.79) earnings per share for the current fiscal year.
In other Endologix news, CEO John D. Mcdermott sold 6,116 shares of the business’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $12.55, for a total transaction of $76,755.80. Following the completion of the sale, the chief executive officer now owns 663,624 shares in the company, valued at $8,328,481.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Gregory D. Waller sold 7,800 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $12.86, for a total transaction of $100,308.00. Following the sale, the director now owns 27,728 shares of the company’s stock, valued at approximately $356,582.08. The disclosure for this sale can be found here.
Several institutional investors have recently made changes to their positions in the stock. Tamarack Advisers LP purchased a new position in shares of Endologix during the fourth quarter valued at about $44,303,000. New York State Common Retirement Fund increased its position 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 valued at $1,485,000 after buying an additional 85,920 shares during the period. Oxford Asset Management increased its position in shares of Endologix by 225.4% in the fourth quarter. Oxford Asset Management now owns 342,657 shares of the company’s stock valued at $3,432,000 after buying an additional 237,350 shares during the period. Finally, California State Teachers Retirement System increased its position 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 valued at $1,237,000 after buying an additional 2,243 shares during the period.
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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