Zacks Investment Research lowered shares of Endologix Inc. (NASDAQ:ELGX) from a buy rating to a hold rating in a report released on Tuesday morning.
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. “
ELGX has been the topic of several other reports. BTIG Research reaffirmed a buy rating and issued a $16.00 price target on shares of Endologix in a report on Wednesday, August 3rd. Royal Bank Of Canada cut shares of Endologix from an outperform rating to a sector perform rating and dropped their target price for the stock from $17.00 to $12.00 in a report on Wednesday, August 3rd. Leerink Swann assumed coverage on shares of Endologix in a report on Tuesday, September 6th. They set a market perform rating and a $13.00 target price on the stock. BMO Capital Markets reissued a buy rating and set a $15.00 target price on shares of Endologix in a report on Wednesday, August 3rd. Finally, Canaccord Genuity set a $15.00 target price on shares of Endologix and gave the stock a buy rating in a report on Sunday, October 30th. Eight investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Endologix currently has an average rating of Hold and a consensus target price of $11.77.
Shares of Endologix (NASDAQ:ELGX) opened at 7.85 on Tuesday. Endologix has a 52 week low of $6.22 and a 52 week high of $14.49. The firm’s market cap is $649.12 million. The company has a 50 day moving average of $10.61 and a 200 day moving average of $12.10.
Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Tuesday, November 1st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.15) by $0.03. The company earned $52.12 million during the quarter, compared to analyst estimates of $51.83 million. Endologix had a negative net margin of 78.53% and a negative return on equity of 39.12%. The company’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the company earned ($0.16) earnings per share. On average, equities research analysts anticipate that Endologix will post ($0.71) EPS for the current fiscal year.
In related news, Director Guido J. Neels bought 13,000 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was purchased at an average price of $7.69 per share, for a total transaction of $99,970.00. Following the transaction, the director now directly owns 41,380 shares of the company’s stock, valued at approximately $318,212.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new position in shares of Endologix during the second quarter worth about $128,000. OLD National Bancorp IN acquired a new position in Endologix during the second quarter valued at $129,000. Teacher Retirement System of Texas raised its position in Endologix by 15.8% in the second quarter. Teacher Retirement System of Texas now owns 10,333 shares of the company’s stock valued at $129,000 after buying an additional 1,407 shares during the period. Villere ST Denis J & Co. LLC acquired a new position in Endologix during the second quarter valued at $134,000. Finally, Principal Financial Group Inc. raised its position in Endologix by 1.4% in the third quarter. Principal Financial Group Inc. now owns 10,988 shares of the company’s stock valued at $141,000 after buying an additional 147 shares during the period.
Endologix Company Profile
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.