Analysts Anticipate Endologix, Inc. (ELGX) Will Announce Quarterly Sales of $43.78 Million

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Wall Street brokerages forecast that Endologix, Inc. (NASDAQ:ELGX) will report sales of $43.78 million for the current quarter, according to Zacks. Five analysts have provided estimates for Endologix’s earnings, with estimates ranging from $43.20 million to $44.30 million. Endologix reported sales of $45.99 million during the same quarter last year, which indicates a negative year-over-year growth rate of 4.8%. The firm is expected to report its next quarterly earnings results on Tuesday, November 6th.

According to Zacks, analysts expect that Endologix will report full-year sales of $175.56 million for the current year, with estimates ranging from $174.40 million to $176.59 million. For the next financial year, analysts anticipate that the company will post sales of $186.34 million per share, with estimates ranging from $182.29 million to $193.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Endologix.

Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Thursday, August 9th. The medical instruments supplier reported ($0.18) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). The firm had revenue of $44.70 million during the quarter, compared to analysts’ expectations of $44.43 million. Endologix had a negative net margin of 40.92% and a negative return on equity of 61.15%. The business’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) earnings per share.

ELGX has been the topic of a number of research reports. ValuEngine upgraded Endologix from a “strong sell” rating to a “sell” rating in a report on Wednesday, May 2nd. BidaskClub upgraded Endologix from a “hold” rating to a “buy” rating in a report on Thursday, May 3rd. Oppenheimer set a $5.00 price target on Endologix and gave the company a “hold” rating in a report on Thursday, May 3rd. Zacks Investment Research upgraded Endologix from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Finally, Stifel Nicolaus increased their price target on Endologix from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, May 21st. One equities research analyst has rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $4.00.

Shares of Endologix traded down $1.75, reaching $2.99, during trading hours on Tuesday, according to Marketbeat.com. The company’s stock had a trading volume of 3,818,597 shares, compared to its average volume of 309,267. The company has a market capitalization of $398.21 million, a price-to-earnings ratio of -6.23 and a beta of 0.23. Endologix has a 1-year low of $2.66 and a 1-year high of $6.72. The company has a debt-to-equity ratio of 3.58, a current ratio of 2.13 and a quick ratio of 1.37.

Several institutional investors and hedge funds have recently bought and sold shares of ELGX. BlackRock Inc. lifted its holdings in shares of Endologix by 11.1% during the second quarter. BlackRock Inc. now owns 5,644,438 shares of the medical instruments supplier’s stock valued at $31,948,000 after acquiring an additional 565,175 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Endologix by 14.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,431,962 shares of the medical instruments supplier’s stock valued at $8,105,000 after acquiring an additional 175,970 shares during the period. Deutsche Bank AG lifted its holdings in shares of Endologix by 111.7% during the fourth quarter. Deutsche Bank AG now owns 190,868 shares of the medical instruments supplier’s stock valued at $1,019,000 after acquiring an additional 100,703 shares during the period. Altrinsic Global Advisors LLC lifted its holdings in shares of Endologix by 9.5% during the first quarter. Altrinsic Global Advisors LLC now owns 1,035,000 shares of the medical instruments supplier’s stock valued at $4,378,000 after acquiring an additional 90,000 shares during the period. Finally, Engineers Gate Manager LP bought a new position in shares of Endologix during the second quarter valued at $442,000. 97.52% of the stock is owned by institutional investors.

About Endologix

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.

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