Endologix, Inc. (NASDAQ:ELGX) Downgraded to “Hold” at Zacks Investment Research
Endologix, Inc. (NASDAQ:ELGX) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis. “
Several other equities analysts have also recently commented on ELGX. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating on shares of Endologix in a report on Wednesday, April 5th. BMO Capital Markets reaffirmed a “hold” rating and issued a $7.00 price target on shares of Endologix in a report on Tuesday, April 11th. Royal Bank Of Canada reaffirmed a “hold” rating and issued a $8.00 price target on shares of Endologix in a report on Thursday, April 13th. Stifel Nicolaus cut Endologix from a “buy” rating to a “hold” rating and cut their price target for the company from $10.00 to $5.50 in a report on Thursday, May 18th. Finally, BTIG Research cut Endologix from a “buy” rating to a “neutral” rating and set a $7.00 price target for the company. in a report on Thursday, May 18th. Ten investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.39.
Endologix (NASDAQ ELGX) traded up 5.57% during midday trading on Tuesday, reaching $5.31. The company’s stock had a trading volume of 1,018,925 shares. Endologix has a 52 week low of $4.20 and a 52 week high of $14.41. The stock has a 50 day moving average of $4.88 and a 200 day moving average of $6.12. The firm’s market capitalization is $440.60 million.
Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Thursday, May 4th. The medical instruments supplier reported ($0.18) EPS for the quarter, beating the consensus estimate of ($0.24) by $0.06. The firm had revenue of $42.60 million during the quarter, compared to analysts’ expectations of $41.15 million. Endologix had a negative return on equity of 48.92% and a negative net margin of 66.43%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.25) EPS. On average, equities research analysts predict that Endologix will post ($0.63) earnings per share for the current fiscal year.
In other Endologix news, Director Guido J. Neels purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The shares were acquired at an average cost of $4.32 per share, for a total transaction of $86,400.00. Following the transaction, the director now directly owns 61,380 shares in the company, valued at $265,161.60. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dan Lemaitre purchased 22,522 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The shares were acquired at an average price of $4.43 per share, for a total transaction of $99,772.46. Following the completion of the transaction, the director now owns 68,689 shares in the company, valued at $304,292.27. The disclosure for this purchase can be found here. Over the last three months, insiders bought 44,722 shares of company stock valued at $195,676. 4.10% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new stake in Endologix during the first quarter worth approximately $160,000. Emerald Advisers Inc. PA acquired a new stake in Endologix during the first quarter worth approximately $222,000. Quantitative Systematic Strategies LLC acquired a new stake in Endologix during the first quarter worth approximately $261,000. MARSHALL WACE ASIA Ltd acquired a new stake in Endologix during the first quarter worth approximately $323,000. Finally, Marshall Wace North America L.P. acquired a new stake in Endologix during the first quarter worth approximately $323,000.
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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