Endologix Inc. (ELGX) Downgraded to Sell at Zacks Investment Research
According to Zacks, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis. “
Several other research firms have also commented on ELGX. Piper Jaffray Cos. restated an overweight rating and issued a $15.00 price target on shares of Endologix in a report on Monday, June 13th. Oppenheimer Holdings Inc. restated an outperform rating and issued a $15.00 price target on shares of Endologix in a report on Tuesday, September 27th. Royal Bank Of Canada boosted their price target on shares of Endologix from $15.00 to $17.00 and gave the company an outperform rating in a report on Monday, June 13th. BMO Capital Markets upgraded shares of Endologix from a market perform rating to an outperform rating and boosted their price target for the company from $11.50 to $16.00 in a report on Thursday, July 7th. Finally, RBC Capital Markets lowered shares of Endologix from an outperform rating to a sector perform rating and reduced their price target for the company from $17.00 to $12.00 in a report on Wednesday, August 3rd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $13.79.
Endologix (NASDAQ:ELGX) opened at 12.87 on Tuesday. The stock’s market capitalization is $1.06 billion. Endologix has a 1-year low of $6.51 and a 1-year high of $14.50. The stock has a 50 day moving average price of $12.49 and a 200-day moving average price of $11.98.
Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.20) by $0.07. Endologix had a negative net margin of 82.39% and a negative return on equity of 41.88%. The company earned $51 million during the quarter, compared to analyst estimates of $46.30 million. During the same quarter last year, the business posted ($0.18) EPS. The firm’s revenue for the quarter was up 29.1% on a year-over-year basis. Equities research analysts expect that Endologix will post ($0.74) EPS for the current year.
In other Endologix news, insider Michael V. Chobotov sold 14,000 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $12.40, for a total transaction of $173,600.00. Following the sale, the insider now owns 189,269 shares of the company’s stock, valued at approximately $2,346,935.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Jose A. Lima sold 4,710 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $11.68, for a total transaction of $55,012.80. Following the sale, the vice president now directly owns 42,594 shares in the company, valued at approximately $497,497.92. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new stake in Endologix during the second quarter valued at approximately $128,000. Teacher Retirement System of Texas increased its stake in Endologix by 15.8% in the second quarter. Teacher Retirement System of Texas now owns 10,333 shares of the company’s stock valued at $129,000 after buying an additional 1,407 shares during the period. OLD National Bancorp IN acquired a new stake in Endologix during the second quarter valued at approximately $129,000. Villere ST Denis J & Co. LLC acquired a new stake in Endologix during the second quarter valued at approximately $134,000. Finally, BNP Paribas Arbitrage SA increased its stake in Endologix by 51.9% in the third quarter. BNP Paribas Arbitrage SA now owns 11,836 shares of the company’s stock valued at $152,000 after buying an additional 4,042 shares during the period.
Endologix Company Profile
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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