Endologix Inc. (ELGX) Trading Down 2.6%
Endologix Inc. (NASDAQ:ELGX) was down 2.6% during trading on Thursday . The company traded as low as $11.62 and last traded at $11.62, with a volume of 439,992 shares. The stock had previously closed at $11.93.
A number of equities research analysts have commented on ELGX shares. 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. Royal Bank Of Canada raised their price target on shares of Endologix from $15.00 to $17.00 and gave the stock 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 raised their price target for the stock from $11.50 to $16.00 in a report on Thursday, July 7th. Oppenheimer Holdings Inc. set a $15.00 price objective on shares of Endologix and gave the company a “buy” rating in a report on Wednesday, August 3rd. Finally, BTIG Research reiterated a “buy” rating on shares of Endologix in a report on Sunday, May 29th. 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’s stock. Endologix presently has an average rating of “Buy” and a consensus target price of $13.86.
The firm’s 50-day moving average price is $13.18 and its 200-day moving average price is $10.71. The stock’s market cap is $967.87 million.
Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.07. The business earned $51 million during the quarter, compared to analysts’ expectations of $46.30 million. During the same period in the prior year, the firm earned ($0.18) EPS. Endologix’s revenue for the quarter was up 29.1% on a year-over-year basis. On average, equities research analysts predict that Endologix Inc. will post ($0.74) EPS for the current fiscal year.
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 value of $173,600.00. Following the completion of the sale, the insider now owns 189,269 shares of the company’s stock, valued at $2,346,935.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Robert D. Mitchell sold 2,294 shares of Endologix stock in a transaction 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 completion of the sale, the president now directly owns 318,233 shares of the company’s stock, valued at approximately $3,993,824.15. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Endologix stock. California State Teachers Retirement System raised its position in shares of Endologix Inc. (NASDAQ:ELGX) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 124,973 shares of the company’s stock after buying an additional 2,243 shares during the period. California State Teachers Retirement System owned about 0.18% of Endologix worth $1,237,000 at the end of the most recent reporting period.
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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