Endologix, Inc. (ELGX) Issues Quarterly Earnings Results, Beats Estimates By $0.08 EPS
Endologix, Inc. (NASDAQ:ELGX) announced its earnings results on Wednesday. The medical instruments supplier reported ($0.10) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.08, Briefing.com reports. Endologix had a negative return on equity of 44.60% and a negative net margin of 40.77%. The firm had revenue of $48.60 million for the quarter, compared to the consensus estimate of $47.58 million. During the same period in the previous year, the business earned ($0.20) EPS. The firm’s revenue for the quarter was down 4.6% on a year-over-year basis.
Shares of Endologix (NASDAQ ELGX) traded down 0.92% during mid-day trading on Friday, hitting $4.31. The stock had a trading volume of 1,456,169 shares. Endologix has a 52-week low of $4.20 and a 52-week high of $13.30. The firm’s market cap is $359.57 million. The firm has a 50 day moving average price of $4.91 and a 200 day moving average price of $6.07.
In related news, Director Guido J. Neels purchased 20,000 shares of the stock in a transaction that occurred on Friday, May 19th. The shares were purchased at an average price of $4.32 per share, with a total value of $86,400.00. Following the completion of the acquisition, the director now directly owns 61,380 shares in the company, valued at approximately $265,161.60. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dan Lemaitre purchased 22,522 shares of the stock in a transaction that occurred on Monday, May 22nd. The shares were bought at an average cost of $4.43 per share, for a total transaction of $99,772.46. Following the acquisition, the director now owns 68,689 shares of the company’s stock, valued at $304,292.27. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 44,722 shares of company stock worth $195,676. Corporate insiders own 3.90% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ELGX. Quantbot Technologies LP bought a new position in Endologix during the first quarter worth about $160,000. Emerald Advisers Inc. PA bought a new position in Endologix during the first quarter worth about $222,000. Quantitative Systematic Strategies LLC bought a new position in Endologix during the first quarter worth about $261,000. MARSHALL WACE ASIA Ltd bought a new position in Endologix during the first quarter worth about $323,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Endologix during the first quarter worth $323,000.
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Several brokerages recently weighed in on ELGX. Zacks Investment Research upgraded Endologix from a “sell” rating to a “hold” rating in a research note on Friday, May 5th. Stifel Nicolaus downgraded Endologix from a “buy” rating to a “hold” rating and dropped their target price for the stock from $10.00 to $5.50 in a research note on Thursday, May 18th. BTIG Research downgraded Endologix from a “buy” rating to a “neutral” rating and set a $7.00 price target on the stock. in a research note on Thursday, May 18th. Stephens downgraded Endologix from an “overweight” rating to an “equal weight” rating and set a $6.00 price target on the stock. in a research note on Thursday, May 18th. Finally, Canaccord Genuity reiterated a “hold” rating and set a $5.00 price target on shares of Endologix in a research note on Thursday, May 18th. Eleven research analysts have rated the stock with a hold rating, The stock currently has a consensus rating of “Hold” and an average price target of $6.28.
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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