Zacks: Brokerages Expect Endologix, Inc. (ELGX) Will Announce Quarterly Sales of $47.21 Million
Equities research analysts forecast that Endologix, Inc. (NASDAQ:ELGX) will post sales of $47.21 million for the current fiscal quarter, according to Zacks. Four analysts have issued estimates for Endologix’s earnings, with the lowest sales estimate coming in at $46.00 million and the highest estimate coming in at $49.04 million. Endologix reported sales of $52.12 million in the same quarter last year, which indicates a negative year-over-year growth rate of 9.4%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Endologix will report full year sales of $47.21 million for the current year, with estimates ranging from $186.20 million to $188.90 million. For the next financial year, analysts anticipate that the firm will post sales of $200.16 million per share, with estimates ranging from $194.40 million to $205.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Endologix.
Endologix (NASDAQ:ELGX) last released its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. Endologix had a negative net margin of 40.77% and a negative return on equity of 46.32%. The firm had revenue of $48.60 million during the quarter, compared to analyst estimates of $47.58 million. During the same period last year, the business earned ($0.20) earnings per share. The business’s revenue was down 4.6% on a year-over-year basis.
ELGX has been the topic of a number of research reports. ValuEngine cut shares of Endologix from a “sell” rating to a “strong sell” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Endologix from a “hold” rating to a “strong-buy” rating and set a $5.75 price objective on the stock in a research note on Monday, July 24th. Stifel Nicolaus set a $6.00 price objective on shares of Endologix and gave the company a “hold” rating in a research note on Friday, October 6th. Royal Bank Of Canada reissued a “hold” rating and issued a $5.00 price objective on shares of Endologix in a research note on Tuesday, October 3rd. Finally, BidaskClub cut shares of Endologix from a “hold” rating to a “sell” rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating and eleven have issued a hold rating to the company’s stock. Endologix currently has an average rating of “Hold” and a consensus price target of $6.28.
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Several institutional investors have recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Endologix during the 2nd quarter worth about $142,000. Verition Fund Management LLC acquired a new stake in shares of Endologix during the 2nd quarter worth about $111,000. The Manufacturers Life Insurance Company boosted its stake 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 worth $325,000 after purchasing an additional 2,738 shares during the last quarter. Redmile Group LLC boosted its stake 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 worth $30,950,000 after purchasing an additional 3,650,905 shares during the last quarter. Finally, State Street Corp boosted its stake 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 worth $9,483,000 after purchasing an additional 201,700 shares during the last quarter.
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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