Endologix Inc. (ELGX) Given Average Recommendation of “Buy” by Brokerages
Endologix Inc. (NASDAQ:ELGX) has received an average rating of “Buy” from the thirteen analysts that are currently covering the firm. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $13.64.
A number of equities research analysts have recently commented on ELGX shares. Canaccord Genuity reaffirmed a “buy” rating on shares of Endologix in a research note on Tuesday, July 12th. Oppenheimer Holdings Inc. set a $15.00 price objective on shares of Endologix and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. BMO Capital Markets reaffirmed a “buy” rating and set a $15.00 price objective on shares of Endologix in a research note on Wednesday, August 3rd. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of Endologix in a research note on Wednesday, August 3rd. Finally, Leerink Swann set a $13.00 price target on shares of Endologix and gave the company a “hold” rating in a research note on Saturday, September 17th.
In other news, insider Michael V. Chobotov sold 14,000 shares of Endologix stock in a transaction on Friday, August 5th. The stock was sold at an average price of $12.40, for a total transaction of $173,600.00. Following the transaction, the insider now owns 189,269 shares in the company, valued at approximately $2,346,935.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Jose A. Lima sold 4,710 shares of Endologix stock in a transaction on Friday, August 19th. The stock was sold at an average price of $11.68, for a total value of $55,012.80. Following the transaction, the vice president now owns 42,594 shares in the company, valued at approximately $497,497.92. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new position in Endologix during the second quarter valued at approximately $128,000. Teacher Retirement System of Texas raised its position 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 in the last quarter. OLD National Bancorp IN bought a new position in Endologix during the second quarter valued at approximately $129,000. Villere ST Denis J & Co. LLC bought a new position in Endologix during the second quarter valued at approximately $134,000. Finally, BNP Paribas Arbitrage SA raised its position 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 in the last quarter.
Shares of Endologix (NASDAQ:ELGX) opened at 13.21 on Thursday. The stock’s market cap is $1.09 billion. Endologix has a 52 week low of $6.51 and a 52 week high of $14.50. The stock has a 50 day moving average of $12.54 and a 200 day moving average of $12.07.
Endologix (NASDAQ:ELGX) last issued 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. The business had revenue of $51 million for the quarter, compared to analysts’ expectations of $46.30 million. Endologix had a negative net margin of 82.39% and a negative return on equity of 41.88%. The business’s revenue was up 29.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.18) EPS. On average, analysts expect that Endologix will post ($0.74) earnings per share for the current year.
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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