Brokerages Set Endologix, Inc. (ELGX) Price Target at $6.33
Endologix, Inc. (NASDAQ:ELGX) has been assigned a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.33.
A number of equities research analysts have weighed in on the company. Canaccord Genuity reaffirmed a “hold” rating on shares of Endologix in a report on Friday, August 4th. BidaskClub downgraded Endologix from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Oppenheimer Holdings, Inc. set a $5.00 target price on Endologix and gave the company a “hold” rating in a report on Thursday, August 3rd. Stifel Nicolaus set a $6.00 target price on Endologix and gave the company a “hold” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reaffirmed a “hold” rating and issued a $5.00 target price on shares of Endologix in a report on Tuesday, October 3rd.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Endologix during the 2nd quarter valued at $142,000. Verition Fund Management LLC acquired a new stake in shares of Endologix during the 2nd quarter valued at $111,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Endologix by 4.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,890 shares of the medical instruments supplier’s stock valued at $325,000 after acquiring an additional 2,738 shares in the last quarter. Redmile Group LLC boosted its holdings in shares of Endologix by 134.4% during the 2nd quarter. Redmile Group LLC now owns 6,368,299 shares of the medical instruments supplier’s stock valued at $30,950,000 after acquiring an additional 3,650,905 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of Endologix by 11.5% during the 2nd quarter. State Street Corp now owns 1,951,432 shares of the medical instruments supplier’s stock valued at $9,483,000 after acquiring an additional 201,700 shares in the last quarter.
Endologix (NASDAQ ELGX) traded down 1.16% during trading on Wednesday, reaching $5.10. The company’s stock had a trading volume of 410,612 shares. Endologix has a 1-year low of $4.08 and a 1-year high of $12.74. The stock’s market cap is $425.51 million. The company’s 50 day moving average price is $4.67 and its 200-day moving average price is $5.29.
Endologix (NASDAQ:ELGX) last issued its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.08. The firm had revenue of $48.60 million for the quarter, compared to the consensus estimate of $47.58 million. Endologix had a negative return on equity of 46.32% and a negative net margin of 40.77%. The company’s revenue was down 4.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.20) EPS. Equities analysts forecast that Endologix will post ($0.62) earnings per share for the current fiscal year.
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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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