Endologix Inc. (NASDAQ:ELGX) shares dropped 12.4% during mid-day trading on Wednesday . The company traded as low as $11.78 and last traded at $12.05, with a volume of 5,078,936 shares. The stock had previously closed at $13.75.

ELGX has been the subject of a number of recent research reports. Canaccord Genuity reiterated a “buy” rating on shares of Endologix in a research note on Tuesday, July 12th. Guggenheim initiated coverage on shares of Endologix in a research note on Wednesday, June 8th. They issued a “buy” rating and a $16.00 price target for the company. BTIG Research reiterated a “buy” rating on shares of Endologix in a research note on Sunday, May 29th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Endologix in a research note on Tuesday, May 10th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $15.00 price target on shares of Endologix in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $13.68.

The firm’s market cap is $980.60 million. The company’s 50-day moving average price is $13.27 and its 200 day moving average price is $10.57.

Endologix (NASDAQ:ELGX) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.20) by $0.07. The business had revenue of $51 million for the quarter, compared to analyst estimates of $46.30 million. During the same period last year, the company posted ($0.18) EPS. The firm’s revenue for the quarter was up 29.1% compared to the same quarter last year. Equities analysts predict that Endologix Inc. will post ($0.79) earnings per share for the current fiscal year.

In other Endologix news, Director Gregory D. Waller sold 7,800 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now owns 27,728 shares in the company, valued at approximately $356,582.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John D. Mcdermott sold 6,116 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $12.55, for a total value of $76,755.80. Following the completion of the transaction, the chief executive officer now owns 663,624 shares of the company’s stock, valued at approximately $8,328,481.20. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Endologix stock. California State Teachers Retirement System increased its position in Endologix Inc. (NASDAQ:ELGX) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,973 shares of the company’s stock after buying an additional 2,243 shares during the period. California State Teachers Retirement System owned approximately 0.18% of Endologix worth $1,237,000 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.

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