Leerink Swann Research Analysts Lower Earnings Estimates for Endologix, Inc. (ELGX)
Endologix, Inc. (NASDAQ:ELGX) – Leerink Swann cut their Q3 2017 earnings per share (EPS) estimates for shares of Endologix in a report issued on Thursday. Leerink Swann analyst R. Misra now forecasts that the medical instruments supplier will post earnings of ($0.15) per share for the quarter, down from their prior estimate of ($0.13). Leerink Swann also issued estimates for Endologix’s Q4 2017 earnings at ($0.17) EPS, FY2017 earnings at ($0.60) EPS, FY2018 earnings at ($0.46) EPS, FY2019 earnings at ($0.39) EPS and FY2020 earnings at ($0.24) EPS.
A number of other equities research analysts have also weighed in on ELGX. Royal Bank Of Canada reiterated a “hold” rating and set a $5.00 target price on shares of Endologix in a research note on Monday, July 31st. Canaccord Genuity reiterated a “hold” rating on shares of Endologix in a research note on Friday. BidaskClub lowered shares of Endologix from a “hold” rating to a “sell” rating in a research note on Friday. Stifel Nicolaus set a $6.00 target price on shares of Endologix and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. set a $5.00 target price on shares of Endologix and gave the company a “hold” rating in a research note on Thursday. One analyst has rated the stock with a sell rating and eleven have issued a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.28.
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Endologix (NASDAQ:ELGX) opened at 4.175 on Monday. The company’s market capitalization is $348.30 million. The firm’s 50-day moving average price is $4.91 and its 200 day moving average price is $6.07. Endologix has a one year low of $4.17 and a one year high of $13.30.
Endologix (NASDAQ:ELGX) last issued its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.08. The company had revenue of $48.60 million during the quarter, compared to the consensus estimate of $47.58 million. Endologix had a negative return on equity of 44.60% and a negative net margin of 40.77%. Endologix’s revenue was down 4.6% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share.
Several large investors have recently bought and sold shares of the company. Brown Capital Management LLC raised its stake in Endologix by 43.7% in the first quarter. Brown Capital Management LLC now owns 8,783,162 shares of the medical instruments supplier’s stock valued at $63,590,000 after buying an additional 2,669,542 shares during the period. Vanguard Group Inc. raised its stake in Endologix by 5.1% in the first quarter. Vanguard Group Inc. now owns 6,285,069 shares of the medical instruments supplier’s stock valued at $45,505,000 after buying an additional 306,397 shares during the period. Camber Capital Management LLC raised 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 valued at $43,440,000 after buying an additional 2,365,000 shares during the period. TimesSquare Capital Management LLC raised its stake in Endologix by 10.8% in the first quarter. TimesSquare Capital Management LLC now owns 3,814,670 shares of the medical instruments supplier’s stock valued at $27,618,000 after buying an additional 371,885 shares during the period. Finally, Redmile Group LLC raised its stake in Endologix by 125.2% in the first quarter. Redmile Group LLC now owns 2,717,394 shares of the medical instruments supplier’s stock valued at $19,674,000 after buying an additional 1,510,500 shares during the period.
In related news, Director Dan Lemaitre acquired 22,522 shares of Endologix stock in a transaction dated Monday, May 22nd. The stock was purchased at an average cost of $4.43 per share, for a total transaction of $99,772.46. Following the purchase, the director now directly owns 68,689 shares of the company’s stock, valued at approximately $304,292.27. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Guido J. Neels acquired 20,000 shares of Endologix stock in a transaction dated Friday, May 19th. The stock was bought at an average price of $4.32 per share, with a total value 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 disclosure for this purchase can be found here. Insiders bought a total of 44,722 shares of company stock valued at $195,676 over the last 90 days. 4.10% of the stock is currently owned by company insiders.
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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