Endologix, Inc. (NASDAQ:ELGX) traded down 5.1% during mid-day trading on Tuesday . The stock traded as low as $4.22 and last traded at $4.26. 541,228 shares were traded during mid-day trading, a decline of 25% from the average session volume of 717,178 shares. The stock had previously closed at $4.49.
Several equities research analysts have recently issued reports on the company. JPMorgan Chase & Co. cut Endologix from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 2nd. ValuEngine cut Endologix from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. BidaskClub raised Endologix from a “sell” rating to a “hold” rating in a report on Saturday, February 10th. Oppenheimer set a $5.00 target price on Endologix and gave the stock a “hold” rating in a report on Thursday, February 22nd. Finally, Zacks Investment Research cut Endologix from a “hold” rating to a “sell” rating in a research note on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.41.
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 $374.71, a P/E ratio of -5.39 and a beta of 0.42.
A number of hedge funds and other institutional investors have recently modified their holdings of ELGX. Senzar Asset Management LLC increased its stake in Endologix by 143.6% during the fourth quarter. Senzar Asset Management LLC now owns 2,196,225 shares of the medical instruments supplier’s stock worth $11,750,000 after acquiring an additional 1,294,684 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its stake in Endologix by 11.8% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 9,890,106 shares of the medical instruments supplier’s stock worth $52,912,000 after acquiring an additional 1,043,986 shares during the last quarter. Prosight Management LP purchased a new position in shares of Endologix during the fourth quarter valued at approximately $3,509,000. State Street Corp boosted its position in shares of Endologix by 11.5% during the second quarter. State Street Corp now owns 1,951,432 shares of the medical instruments supplier’s stock valued at $9,483,000 after buying an additional 201,700 shares during the period. Finally, Millrace Asset Group Inc. purchased a new position in shares of Endologix during the fourth quarter valued at approximately $669,000.
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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