Wall Street brokerages expect Endologix, Inc. (NASDAQ:ELGX) to report earnings of ($0.25) per share for the current quarter, Zacks reports. Three analysts have issued estimates for Endologix’s earnings, with the highest EPS estimate coming in at ($0.19) and the lowest estimate coming in at ($0.33). Endologix reported earnings of ($0.11) per share in the same quarter last year, which indicates a negative year over year growth rate of 127.3%. The company is expected to announce its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Endologix will report full year earnings of ($0.86) per share for the current fiscal year, with EPS estimates ranging from ($1.06) to ($0.70). For the next year, analysts forecast that the company will post earnings of ($0.69) per share, with EPS estimates ranging from ($0.91) to ($0.52). Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Endologix.
Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Thursday, August 9th. The medical instruments supplier reported ($0.18) earnings per share for the quarter, meeting the consensus estimate of ($0.18). Endologix had a negative net margin of 40.92% and a negative return on equity of 69.06%. The business had revenue of $44.70 million during the quarter, compared to analysts’ expectations of $44.43 million. During the same quarter in the prior year, the company posted ($0.10) EPS. The business’s revenue for the quarter was down 8.0% on a year-over-year basis.
ELGX has been the subject of several analyst reports. BTIG Research dropped their price target on shares of Endologix to $4.00 and set a “buy” rating for the company in a research note on Thursday, August 23rd. BidaskClub cut shares of Endologix from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. Oppenheimer reissued a “hold” rating on shares of Endologix in a research note on Wednesday, October 3rd. BMO Capital Markets reissued a “hold” rating and issued a $4.00 price target (down previously from $6.50) on shares of Endologix in a research note on Friday, August 10th. Finally, ValuEngine raised shares of Endologix from a “sell” rating to a “hold” rating in a research note on Thursday, August 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $3.86.
In related news, CFO Vaseem Mahboob acquired 30,000 shares of the firm’s stock in a transaction dated Thursday, August 16th. The shares were purchased at an average cost of $2.43 per share, for a total transaction of $72,900.00. Following the acquisition, the chief financial officer now owns 146,812 shares in the company, valued at approximately $356,753.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company’s stock.
Several hedge funds have recently modified their holdings of ELGX. Schwab Charles Investment Management Inc. lifted its holdings in shares of Endologix by 8.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 380,648 shares of the medical instruments supplier’s stock worth $1,611,000 after acquiring an additional 30,585 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Endologix by 14.0% in the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,431,962 shares of the medical instruments supplier’s stock worth $8,105,000 after acquiring an additional 175,970 shares during the last quarter. C WorldWide Group Holding A S lifted its holdings in shares of Endologix by 22.3% in the 2nd quarter. C WorldWide Group Holding A S now owns 364,464 shares of the medical instruments supplier’s stock worth $2,063,000 after acquiring an additional 66,486 shares during the last quarter. Engineers Gate Manager LP acquired a new position in shares of Endologix in the 2nd quarter worth approximately $442,000. Finally, BlackRock Inc. lifted its holdings in shares of Endologix by 11.1% in the 2nd quarter. BlackRock Inc. now owns 5,644,438 shares of the medical instruments supplier’s stock worth $31,948,000 after acquiring an additional 565,175 shares during the last quarter. Hedge funds and other institutional investors own 94.03% of the company’s stock.
Shares of Endologix stock traded down $0.03 during mid-day trading on Friday, hitting $1.65. The stock had a trading volume of 523,600 shares, compared to its average volume of 664,227. Endologix has a 12-month low of $1.49 and a 12-month high of $6.72. The company has a debt-to-equity ratio of 5.37, a current ratio of 1.90 and a quick ratio of 1.20. The stock has a market cap of $161.79 million, a price-to-earnings ratio of -3.44 and a beta of 0.01.
Endologix Company Profile
Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. It offers minimally-invasive endovascular repair (EVAR) products, including AFX (Anatomical Fixation) endovascular AAA system, which is a minimally invasive delivery system; VELA Proximal Endograft, which is designed for the treatment of proximal aortic neck anatomies with AFX; and the ovation abdominal stent graft system.
Featured Article: Why does a company issue an IPO?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.