Endologix Inc. (ELGX) Trading Up 1.7%
Endologix Inc. (NASDAQ:ELGX)’s share price was up 1.7% during trading on Tuesday . The company traded as high as $12.80 and last traded at $12.77, with a volume of 418,705 shares traded. The stock had previously closed at $12.56.
A number of equities analysts recently commented on ELGX shares. Canaccord Genuity upgraded Endologix from a “hold” rating to a “buy” rating and set a $15.50 price target for the company in a research note on Monday, June 13th. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Endologix in a research note on Tuesday, May 10th. Guggenheim started coverage on 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. Finally, Zacks Investment Research upgraded Endologix from a “sell” rating to a “hold” rating in a research note on Monday, April 4th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $14.10.
The firm’s 50 day moving average price is $12.53 and its 200-day moving average price is $9.98. The firm’s market cap is $1.08 billion.
Endologix (NASDAQ:ELGX) last released its earnings results on Monday, May 9th. The company reported ($0.25) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.01. During the same period last year, the company posted ($0.14) earnings per share. The business had revenue of $42.40 million for the quarter, compared to analysts’ expectations of $38.78 million. Endologix’s revenue was up 15.5% on a year-over-year basis. Equities analysts forecast that Endologix Inc. will post ($0.79) EPS for the current year.
In other Endologix news, Director Gregory D. Waller sold 7,800 shares of the business’s stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $12.86, for a total transaction of $100,308.00. Following the completion of the transaction, the director now owns 27,728 shares of the company’s stock, 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, VP James Edward Machek sold 6,500 shares of the business’s stock in a transaction on Thursday, May 26th. The stock was sold at an average price of $12.76, for a total transaction of $82,940.00. Following the transaction, the vice president now directly owns 39,243 shares of the company’s stock, valued at approximately $500,740.68. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Tamarack Advisers LP purchased a new position in Endologix during the fourth quarter worth $44,303,000. Oxford Asset Management raised its position in Endologix by 225.4% in the fourth quarter. Oxford Asset Management now owns 342,657 shares of the company’s stock worth $3,432,000 after buying an additional 237,350 shares in the last quarter. New York State Common Retirement Fund raised its position in Endologix by 134.0% in the fourth quarter. New York State Common Retirement Fund now owns 150,020 shares of the company’s stock worth $1,485,000 after buying an additional 85,920 shares in the last quarter. Stoneridge Investment Partners LLC purchased a new position in Endologix during the fourth quarter worth $1,430,000. Finally, California State Teachers Retirement System raised its position in Endologix by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 124,973 shares of the company’s stock worth $1,237,000 after buying an additional 2,243 shares in the last quarter.
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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