Endologix (ELGX) Cut to Sell at Zacks Investment Research

Endologix (NASDAQ:ELGX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis. “

Several other analysts have also issued reports on ELGX. Royal Bank of Canada restated a “hold” rating and issued a $5.00 price target on shares of Endologix in a research report on Tuesday, October 3rd. Stifel Nicolaus set a $6.00 price target on shares of Endologix and gave the stock a “hold” rating in a research report on Friday, October 6th. Canaccord Genuity restated a “hold” rating and issued a $5.00 price target on shares of Endologix in a research report on Monday, October 9th. Piper Jaffray Companies restated an “overweight” rating on shares of Endologix in a research report on Tuesday, December 12th. Finally, BidaskClub lowered shares of Endologix from a “buy” rating to a “hold” rating in a research report on Friday, December 15th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.41.

Endologix (ELGX) traded down $0.03 during midday trading on Tuesday, reaching $4.31. 438,932 shares of the company’s stock traded hands, compared to its average volume of 663,962. The company has a quick ratio of 2.11, a current ratio of 2.90 and a debt-to-equity ratio of 2.61. The firm has a market cap of $361.77, a price-to-earnings ratio of -4.63 and a beta of 0.72. Endologix has a 52 week low of $4.08 and a 52 week high of $7.66.

Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.06. The company had revenue of $45.99 million for the quarter, compared to analyst estimates of $47.21 million. Endologix had a negative net margin of 41.60% and a negative return on equity of 52.18%. sell-side analysts forecast that Endologix will post -0.68 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. Rhumbline Advisers boosted its position in shares of Endologix by 0.4% during the 2nd quarter. Rhumbline Advisers now owns 95,581 shares of the medical instruments supplier’s stock valued at $465,000 after acquiring an additional 381 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position 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 valued at $325,000 after acquiring an additional 2,738 shares in the last quarter. Voya Investment Management LLC boosted 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. Alliancebernstein L.P. boosted its position in shares of Endologix by 11.5% during the 2nd quarter. Alliancebernstein L.P. now owns 108,757 shares of the medical instruments supplier’s stock valued at $529,000 after acquiring an additional 11,200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Endologix by 3.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 350,063 shares of the medical instruments supplier’s stock valued at $1,873,000 after acquiring an additional 12,825 shares in the last quarter.

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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.

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