Endologix, Inc. (ELGX) Receives Consensus Rating of “Hold” from Brokerages
Endologix, Inc. (NASDAQ:ELGX) has earned an average rating of “Hold” from the thirteen analysts that are presently covering the stock, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and eleven have issued a hold recommendation on the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $6.33.
Several equities analysts have recently commented on ELGX shares. Zacks Investment Research upgraded Endologix from a “hold” rating to a “strong-buy” rating and set a $5.75 target price for the company in a research note on Monday, July 24th. 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. Stifel Nicolaus set a $6.00 target price on Endologix and gave the company a “hold” rating in a research note on Wednesday, August 2nd. Oppenheimer Holdings, Inc. set a $5.00 target price on Endologix and gave the company a “hold” rating in a research note on Thursday, August 3rd. Finally, Canaccord Genuity reiterated a “hold” rating on shares of Endologix in a research note on Friday, August 4th.
Hedge funds have recently bought and sold shares of the stock. Kopp Investment Advisors LLC raised its position in shares of Endologix by 11.5% during the 2nd quarter. Kopp Investment Advisors LLC now owns 21,950 shares of the medical instruments supplier’s stock valued at $107,000 after acquiring an additional 2,270 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Endologix during the 2nd quarter valued at approximately $111,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Endologix during the 2nd quarter valued at approximately $142,000. UBS Asset Management Americas Inc. raised its position in shares of Endologix by 128.1% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 34,898 shares of the medical instruments supplier’s stock valued at $170,000 after acquiring an additional 19,600 shares in the last quarter. Finally, Voya Investment Management LLC raised its position in shares of Endologix by 16.4% during the 2nd quarter. Voya Investment Management LLC now owns 38,910 shares of the medical instruments supplier’s stock valued at $189,000 after acquiring an additional 5,471 shares in the last quarter.
Shares of Endologix (NASDAQ ELGX) opened at 5.26 on Wednesday. Endologix has a 12-month low of $4.08 and a 12-month high of $12.74. The firm’s 50-day moving average is $4.59 and its 200-day moving average is $5.31. The firm’s market cap is $438.86 million.
Endologix (NASDAQ:ELGX) last released its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. The company had revenue of $48.60 million during the quarter, compared to analysts’ expectations of $47.58 million. Endologix had a negative return on equity of 46.32% and a negative net margin of 40.77%. The business’s revenue was down 4.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.20) EPS. Equities analysts expect that Endologix will post ($0.62) earnings per share for the current fiscal year.
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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