Endologix Inc. (NASDAQ:ELGX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued 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. “
A number of other equities research analysts also recently weighed in on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $16.00 price target (up from $15.00) on shares of Endologix in a report on Wednesday, July 6th. RBC Capital Markets downgraded shares of Endologix from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $17.00 to $12.00 in a report on Wednesday, August 3rd. BMO Capital Markets raised shares of Endologix from a “market perform” rating to an “outperform” rating and upped their price target for the company from $11.50 to $16.00 in a report on Thursday, July 7th. Royal Bank Of Canada downgraded shares of Endologix from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $17.00 to $12.00 in a report on Wednesday, August 3rd. Finally, Leerink Swann began coverage on shares of Endologix in a report on Tuesday, September 6th. They issued a “market perform” rating and a $13.00 price target for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.79.
Shares of Endologix (NASDAQ:ELGX) opened at 13.10 on Tuesday. Endologix has a 12-month low of $6.51 and a 12-month high of $14.50. The company has a 50-day moving average of $12.42 and a 200-day moving average of $11.94. The stock’s market capitalization is $1.08 billion.
Endologix (NASDAQ:ELGX) last announced its earnings results on Tuesday, August 2nd. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.07. The firm earned $51 million during the quarter, compared to analyst estimates of $46.30 million. Endologix had a negative net margin of 82.39% and a negative return on equity of 41.88%. Endologix’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.18) EPS. Equities analysts expect that Endologix will post ($0.74) earnings per share for the current fiscal year.
In other news, insider Michael V. Chobotov sold 14,000 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $12.40, for a total value of $173,600.00. Following the transaction, the insider now owns 189,269 shares in the company, valued at approximately $2,346,935.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jose A. Lima sold 4,710 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $11.68, for a total value of $55,012.80. Following the completion of the transaction, the vice president now owns 42,594 shares in the company, valued at approximately $497,497.92. The disclosure for this sale can be found here. 3.90% of the stock is owned by insiders.
Institutional investors have recently modified their holdings of the stock. Candriam Luxembourg S.C.A. acquired a new position in shares of Endologix during the second quarter worth $2,829,000. Fox Run Management L.L.C. acquired a new position in shares of Endologix during the second quarter worth $249,000. Villere ST Denis J & Co. LLC acquired a new position in shares of Endologix during the second quarter worth $134,000. GW&K Investment Management LLC increased its position in shares of Endologix by 12.2% in the second quarter. GW&K Investment Management LLC now owns 204,323 shares of the company’s stock worth $2,546,000 after buying an additional 22,279 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Endologix by 11.6% in the first quarter. Metropolitan Life Insurance Co. NY now owns 54,567 shares of the company’s stock worth $456,000 after buying an additional 5,690 shares in the last quarter.
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.
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