Endologix (ELGX) Downgraded to “Sell” at BidaskClub

Endologix (NASDAQ:ELGX) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

Several other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lowered Endologix from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 2nd. ValuEngine lowered Endologix from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Piper Jaffray Companies restated an “overweight” rating on shares of Endologix in a report on Tuesday, December 12th. Canaccord Genuity restated a “hold” rating and set a $5.00 target price on shares of Endologix in a report on Wednesday, November 8th. Finally, Stifel Nicolaus cut their target price on Endologix from $6.00 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, November 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $5.41.

Endologix (NASDAQ:ELGX) traded up $0.09 during midday trading on Friday, reaching $4.36. The company’s stock had a trading volume of 646,920 shares, compared to its average volume of 577,588. Endologix has a one year low of $4.08 and a one year high of $7.66. The company has a debt-to-equity ratio of 2.61, a quick ratio of 2.11 and a current ratio of 2.90.

Endologix (NASDAQ:ELGX) last posted its earnings results on Tuesday, November 7th. The medical instruments supplier reported ($0.11) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.17) by $0.06. Endologix had a negative return on equity of 52.18% and a negative net margin of 41.60%. analysts anticipate that Endologix will post -0.68 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the company. Kopp Investment Advisors LLC grew its position in shares of Endologix by 11.5% in the second quarter. Kopp Investment Advisors LLC now owns 21,950 shares of the medical instruments supplier’s stock valued at $107,000 after purchasing an additional 2,270 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of Endologix in the second quarter valued at about $111,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Endologix in the second quarter valued at about $142,000. Valeo Financial Advisors LLC acquired a new stake in shares of Endologix in the third quarter valued at about $163,000. Finally, UBS Asset Management Americas Inc. grew its position in shares of Endologix by 128.1% in the second quarter. UBS Asset Management Americas Inc. now owns 34,898 shares of the medical instruments supplier’s stock valued at $170,000 after purchasing an additional 19,600 shares during the last quarter.

WARNING: This news story was first posted by American Banking News and is owned by of American Banking News. If you are accessing this news story on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright legislation. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2018/01/21/endologix-elgx-downgraded-to-sell-at-bidaskclub.html.

About Endologix

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.

Analyst Recommendations for Endologix (NASDAQ:ELGX)

Receive News & Ratings for Endologix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endologix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply