Endologix Inc. (NASDAQ:ELGX)’s share price dropped 12.4% on Wednesday . The stock traded as low as $11.78 and last traded at $12.05, with a volume of 5,078,936 shares changing hands. The stock had previously closed at $13.75.

A number of equities analysts have recently commented on ELGX shares. Canaccord Genuity reissued a “buy” rating on shares of Endologix in a research report on Tuesday, July 12th. Guggenheim started coverage on Endologix in a research report on Wednesday, June 8th. They set a “buy” rating and a $16.00 price objective for the company. BTIG Research reissued a “buy” rating on shares of Endologix in a research report on Sunday, May 29th. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of Endologix in a research report on Tuesday, May 10th. Finally, BMO Capital Markets reissued a “buy” rating and set a $15.00 price objective on shares of Endologix in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $13.86.

The stock’s market capitalization is $1.02 billion. The firm’s 50 day moving average price is $13.24 and its 200 day moving average price is $10.59.

Endologix (NASDAQ:ELGX) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.20) by $0.07. During the same quarter last year, the business earned ($0.18) earnings per share. The firm earned $51 million during the quarter, compared to analysts’ expectations of $46.30 million. The business’s revenue for the quarter was up 29.1% compared to the same quarter last year. On average, equities analysts expect that Endologix Inc. will post ($0.76) EPS for the current year.

In other news, VP James Edward Machek sold 6,500 shares of the stock in a transaction dated Thursday, May 26th. The stock was 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 $500,740.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory D. Waller sold 7,800 shares of the stock in a transaction dated Friday, June 3rd. The shares were 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 of the company’s stock, valued at approximately $356,582.08. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Endologix stock. New York State Common Retirement Fund increased its position in shares of Endologix Inc. (NASDAQ:ELGX) by 134.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 0.22% of Endologix worth $1,485,000 as of its most recent SEC filing.

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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