Zacks: Brokerages Anticipate Endologix, Inc. (NASDAQ:ELGX) Will Post Quarterly Sales of $50.29 Million
Equities research analysts forecast that Endologix, Inc. (NASDAQ:ELGX) will announce $50.29 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Endologix’s earnings, with the highest sales estimate coming in at $52.10 million and the lowest estimate coming in at $49.04 million. Endologix posted sales of $52.12 million in the same quarter last year, which suggests a negative year-over-year growth rate of 3.5%. The business is expected to announce its next quarterly earnings results on Tuesday, November 7th.
According to Zacks, analysts expect that Endologix will report full year sales of $50.29 million for the current financial year, with estimates ranging from $186.20 million to $195.10 million. For the next financial year, analysts expect that the firm will report sales of $204.89 million per share, with estimates ranging from $194.40 million to $216.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Endologix.
Endologix (NASDAQ:ELGX) last released its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. The firm had revenue of $48.60 million during the quarter, compared to analyst estimates of $47.58 million. Endologix had a negative return on equity of 44.60% and a negative net margin of 40.77%. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.20) EPS.
Several analysts have recently issued reports on ELGX shares. Zacks Investment Research cut Endologix from a “hold” rating to a “sell” rating in a research note on Tuesday, April 25th. Stephens cut Endologix from an “overweight” rating to an “equal weight” rating and set a $6.00 price objective on the stock. in a research note on Thursday, May 18th. BMO Capital Markets reiterated a “hold” rating and issued a $7.00 price objective on shares of Endologix in a research note on Tuesday, April 11th. BTIG Research cut Endologix from a “buy” rating to a “neutral” rating and set a $7.00 price objective on the stock. in a research note on Thursday, May 18th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $5.00 price objective on shares of Endologix in a research note on Thursday, May 18th. One analyst has rated the stock with a sell rating and eleven have given a hold rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $6.28.
Endologix (NASDAQ ELGX) traded down 4.023% on Tuesday, hitting $4.175. The stock had a trading volume of 2,023,964 shares. The firm’s 50-day moving average is $4.91 and its 200-day moving average is $6.07. Endologix has a 52-week low of $4.17 and a 52-week high of $13.30. The company’s market cap is $348.30 million.
In other Endologix news, Director Guido J. Neels purchased 20,000 shares of the business’s stock in a transaction on Friday, May 19th. The shares were bought at an average cost of $4.32 per share, for a total transaction of $86,400.00. Following the completion of the purchase, the director now directly owns 61,380 shares in the company, valued at $265,161.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dan Lemaitre purchased 22,522 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was acquired at an average price of $4.43 per share, for a total transaction of $99,772.46. Following the completion of the purchase, 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. Over the last 90 days, insiders acquired 44,722 shares of company stock worth $195,676. 3.90% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of ELGX. Nationwide Fund Advisors boosted its stake in Endologix by 34.5% in the first quarter. Nationwide Fund Advisors now owns 258,787 shares of the medical instruments supplier’s stock worth $1,874,000 after buying an additional 66,340 shares in the last quarter. Camber Capital Management LLC boosted its stake in Endologix by 65.1% in the first quarter. Camber Capital Management LLC now owns 6,000,000 shares of the medical instruments supplier’s stock worth $43,440,000 after buying an additional 2,365,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Endologix by 19.3% in the fourth quarter. Renaissance Technologies LLC now owns 344,522 shares of the medical instruments supplier’s stock worth $1,971,000 after buying an additional 55,800 shares in the last quarter. Iguana Healthcare Management LLC acquired a new stake in Endologix during the first quarter worth $1,086,000. Finally, Endurant Capital Management LP acquired a new stake in Endologix during the first quarter worth $2,425,000.
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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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