JPMorgan Chase & Co. Downgrades Endologix (ELGX) to Underweight

JPMorgan Chase & Co. downgraded shares of Endologix (NASDAQ:ELGX) from a neutral rating to an underweight rating in a report issued on Tuesday, Marketbeat reports.

Several other brokerages also recently issued reports on ELGX. Piper Jaffray Companies reiterated an overweight rating on shares of Endologix in a report on Tuesday, December 12th. Royal Bank of Canada decreased their price target on Endologix from $5.00 to $4.00 and set a sector perform rating for the company in a report on Wednesday, November 8th. Canaccord Genuity reiterated a hold rating and set a $5.00 price target on shares of Endologix in a report on Monday, October 9th. Stifel Nicolaus set a $6.00 price target on Endologix and gave the stock a hold rating in a report on Friday, October 6th. Finally, ValuEngine downgraded Endologix from a sell rating to a strong sell rating in a report on Sunday, December 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $5.41.

Shares of Endologix (NASDAQ:ELGX) opened at $5.12 on Tuesday. Endologix has a 1-year low of $4.08 and a 1-year high of $7.66. The stock has a market capitalization of $434.79, a price-to-earnings ratio of -5.51 and a beta of 0.72. The company has a current ratio of 2.90, a quick ratio of 2.11 and a debt-to-equity ratio of 2.61.

A number of large investors have recently made changes to their positions in ELGX. Kopp Investment Advisors LLC grew its stake in Endologix by 11.5% in the 2nd 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 period. Verition Fund Management LLC bought a new position in Endologix in the 2nd quarter valued at $111,000. Dynamic Technology Lab Private Ltd bought a new position in Endologix in the 2nd quarter valued at $142,000. Valeo Financial Advisors LLC bought a new position in Endologix in the 3rd quarter valued at $163,000. Finally, UBS Asset Management Americas Inc. grew its stake in Endologix by 128.1% in the 2nd 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 period.

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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.

Analyst Recommendations for Endologix (NASDAQ:ELGX)

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