First Light Asset Management LLC purchased a new stake in shares of Endologix, Inc. (NASDAQ:ELGX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 2,462,448 shares of the medical instruments supplier’s stock, valued at approximately $17,828,000. Endologix comprises about 2.5% of First Light Asset Management LLC’s investment portfolio, making the stock its 16th biggest position. First Light Asset Management LLC owned approximately 0.14% of Endologix at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in the business. Charles Schwab Investment Management Inc. lifted its holdings in Endologix by 14.3% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 71,343 shares of the medical instruments supplier’s stock valued at $517,000 after purchasing an additional 8,936 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Endologix during the second quarter worth $102,000. Northern Trust Corp lifted its holdings in shares of Endologix by 11.8% during the second quarter. Northern Trust Corp now owns 137,879 shares of the medical instruments supplier’s stock worth $998,000 after buying an additional 14,590 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Endologix during the second quarter worth $145,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Endologix during the second quarter worth $187,000. 77.92% of the stock is owned by institutional investors and hedge funds.
ELGX opened at $4.05 on Friday. Endologix, Inc. has a fifty-two week low of $3.84 and a fifty-two week high of $22.00. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.53 and a quick ratio of 1.80. The stock has a fifty day moving average of $5.51 and a 200-day moving average of $6.38.
A number of equities research analysts have recently weighed in on ELGX shares. ValuEngine raised Endologix from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research downgraded Endologix from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Finally, Royal Bank of Canada set a $7.00 target price on Endologix and gave the stock a “hold” rating in a report on Friday, August 9th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $16.30.
Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular aneurysm repair (EVAR), 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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