Endologix Inc. (ELGX) Sees Large Volume Increase
Endologix Inc. (NASDAQ:ELGX) shares saw unusually-strong trading volume on Friday . Approximately 1,384,534 shares traded hands during mid-day trading, an increase of 44% from the previous session’s volume of 958,685 shares.The stock last traded at $14.14 and had previously closed at $14.27.
A number of analysts have recently issued reports on the stock. Oppenheimer Holdings Inc. restated a “buy” rating on shares of Endologix in a research note on Tuesday, May 10th. Zacks Investment Research cut shares of Endologix from a “hold” rating to a “strong sell” rating in a research note on Monday, April 25th. Royal Bank Of Canada raised their target price on shares of Endologix from $11.00 to $15.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 10th. JPMorgan Chase & Co. assumed coverage on shares of Endologix in a research note on Monday, April 4th. They set an “overweight” rating and a $11.00 target price for the company. Finally, BMO Capital Markets restated a “hold” rating and set a $11.50 target price on shares of Endologix in a research note on Tuesday, May 10th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $14.55.
The company’s 50-day moving average is $13.21 and its 200-day moving average is $10.48. The stock’s market cap is $1.15 billion.
Endologix (NASDAQ:ELGX) last posted its earnings results on Monday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by $0.01. During the same period last year, the firm posted ($0.14) EPS. The firm had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $38.78 million. Endologix’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts predict that Endologix Inc. will post ($0.79) earnings per share for the current year.
In other news, VP James Edward Machek sold 6,500 shares of the company’s stock in a transaction on Thursday, May 26th. The shares were sold at an average price of $12.76, for a total value of $82,940.00. Following the completion of the sale, the vice president now owns 39,243 shares in the company, valued at approximately $500,740.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gregory D. Waller sold 7,800 shares of the company’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $12.86, for a total transaction of $100,308.00. Following the completion of 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.
An institutional investor recently raised its position in Endologix stock. New York State Common Retirement Fund boosted its stake in Endologix Inc. (NASDAQ:ELGX) by 134.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 150,020 shares of the company’s stock after buying an additional 85,920 shares during the period. New York State Common Retirement Fund owned approximately 0.22% of Endologix worth $1,485,000 as of its most recent filing with the SEC.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.