Endologix, Inc. (ELGX) Given Consensus Recommendation of “Hold” by Analysts
Shares of Endologix, Inc. (NASDAQ:ELGX) have received an average rating of “Hold” from the twelve analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and eleven have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.50.
Several equities research analysts recently commented on ELGX shares. Zacks Investment Research lowered Endologix from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 25th. Royal Bank Of Canada reiterated a “hold” rating and issued a $5.00 price target on shares of Endologix in a report on Monday, July 31st. Canaccord Genuity reiterated a “hold” rating and issued a $5.00 price target on shares of Endologix in a report on Thursday, May 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $5.50 price target (up previously from $5.00) on shares of Endologix in a report on Monday, June 5th. Finally, Oppenheimer Holdings, Inc. set a $5.00 price target on Endologix and gave the stock a “hold” rating in a report on Thursday, August 3rd.
Shares of Endologix (NASDAQ ELGX) opened at 4.205 on Tuesday. The firm has a 50-day moving average of $4.71 and a 200 day moving average of $5.85. The firm’s market capitalization is $350.84 million. Endologix has a 52 week low of $4.08 and a 52 week high of $13.30.
Endologix (NASDAQ:ELGX) last released its quarterly earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.08. Endologix had a negative return on equity of 46.32% and a negative net margin of 40.77%. The firm had revenue of $48.60 million for the quarter, compared to analyst estimates of $47.58 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The business’s revenue was down 4.6% on a year-over-year basis. On average, equities research analysts expect that Endologix will post ($0.62) EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Norges Bank bought a new position in Endologix during the fourth quarter worth approximately $2,410,000. Teachers Advisors LLC raised its position in Endologix by 3.9% in the fourth quarter. Teachers Advisors LLC now owns 130,313 shares of the medical instruments supplier’s stock worth $745,000 after buying an additional 4,851 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in Endologix during the first quarter worth approximately $261,000. Nationwide Fund Advisors raised its position 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 during the last quarter. Finally, Emerald Advisers Inc. PA bought a new position in Endologix during the first quarter worth approximately $222,000.
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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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