Endologix Inc. (ELGX) Trading Down 2.2%
Endologix Inc. (NASDAQ:ELGX)’s share price traded down 2.2% during mid-day trading on Monday . The company traded as low as $13.88 and last traded at $13.92, with a volume of 508,829 shares. The stock had previously closed at $14.24.
A number of equities analysts have recently issued reports on the stock. BMO Capital Markets upgraded shares of Endologix from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $11.50 to $16.00 in a research report on Thursday. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $16.00 target price (up from $15.00) on shares of Endologix in a research report on Wednesday, July 6th. Piper Jaffray Cos. restated an “overweight” rating and set a $15.00 target price on shares of Endologix in a research report on Monday, June 13th. Canaccord Genuity upgraded shares of Endologix from a “hold” rating to a “buy” rating and set a $15.50 target price on the stock in a research report on Monday, June 13th. Finally, Royal Bank Of Canada raised their target price on shares of Endologix from $15.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, June 13th. One equities research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $14.55.
The company’s 50 day moving average price is $12.65 and its 200-day moving average price is $10.04. The firm’s market capitalization is $1.15 billion.
Endologix (NASDAQ:ELGX) last announced its earnings results on Monday, May 9th. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.24) by $0.01. The business earned $42.40 million during the quarter, compared to the consensus estimate of $38.78 million. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. On average, analysts expect that Endologix Inc. will post ($0.79) EPS for the current year.
In other Endologix news, 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 transaction, the chief executive officer now directly owns 663,624 shares of the company’s stock, valued at approximately $8,328,481.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Robert D. Mitchell sold 2,294 shares of the company’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $12.55, for a total value of $28,789.70. Following the sale, the president now directly owns 318,233 shares in the company, valued at $3,993,824.15. The disclosure for this sale can be found here.
Several large investors have recently bought and sold shares of ELGX. Tamarack Advisers LP purchased a new stake in Endologix during the fourth quarter valued at about $44,303,000. Oxford Asset Management raised its stake in Endologix by 225.4% in the fourth quarter. Oxford Asset Management now owns 342,657 shares of the company’s stock valued at $3,432,000 after buying an additional 237,350 shares in the last quarter. New York State Common Retirement Fund raised its stake 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 valued at $1,485,000 after buying an additional 85,920 shares in the last quarter. Finally, California State Teachers Retirement System raised its stake in Endologix by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 124,973 shares of the company’s stock valued at $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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