BTIG Research restated their buy rating on shares of Endologix, Inc. (NASDAQ:ELGX) in a research note issued to investors on Friday. The brokerage currently has a $9.00 price target on the stock, down from their previous price target of $11.00.
Other equities research analysts also recently issued reports about the stock. Leerink Swann set a $8.00 price objective on shares of Endologix and gave the stock a hold rating in a research note on Saturday, November 19th. Canaccord Genuity set a $15.00 price objective on shares of Endologix and gave the stock a buy rating in a research note on Sunday, October 30th. Guggenheim downgraded shares of Endologix from a buy rating to a neutral rating in a research note on Wednesday, November 16th. Oppenheimer Holdings, Inc. set a $11.00 price objective on shares of Endologix and gave the stock a buy rating in a research note on Tuesday, December 13th. Finally, RBC Capital Markets reiterated a hold rating and set a $8.00 price objective on shares of Endologix in a research note on Friday, January 6th. Eight investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and a consensus price target of $10.83.
Shares of Endologix (NASDAQ:ELGX) traded down 4.63% on Friday, reaching $5.77. 445,164 shares of the company traded hands. The company has a 50-day moving average of $6.77 and a 200-day moving average of $10.92. Endologix has a 1-year low of $4.78 and a 1-year high of $14.49. The stock’s market capitalization is $477.13 million.
Endologix (NASDAQ:ELGX) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. Endologix had a negative return on equity of 39.12% and a negative net margin of 78.53%. The company had revenue of $52.12 million for the quarter, compared to analyst estimates of $51.83 million. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. The company’s quarterly revenue was up 36.3% on a year-over-year basis. Analysts anticipate that Endologix will post ($0.74) earnings per share for the current fiscal year.
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In related news, Director Guido J. Neels bought 13,000 shares of the company’s stock in a transaction dated Friday, November 18th. The shares were acquired at an average price of $7.69 per share, for a total transaction of $99,970.00. Following the completion of the transaction, the director now directly owns 41,380 shares in the company, valued at $318,212.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Vaseem Mahboob bought 20,000 shares of the company’s stock in a transaction dated Tuesday, December 13th. The stock was bought at an average price of $6.25 per share, for a total transaction of $125,000.00. Following the transaction, the chief financial officer now owns 108,511 shares of the company’s stock, valued at $678,193.75. The disclosure for this purchase can be found here. 3.90% of the stock is currently owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Nomura Holdings Inc. bought a new stake in shares of Endologix during the second quarter valued at about $128,000. OLD National Bancorp IN bought a new stake in shares of Endologix during the second quarter valued at about $129,000. Teacher Retirement System of Texas raised its stake in shares of Endologix by 15.8% in the second quarter. Teacher Retirement System of Texas now owns 10,333 shares of the company’s stock valued at $129,000 after buying an additional 1,407 shares during the period. Principal Financial Group Inc. raised its stake in shares of Endologix by 1.4% in the third quarter. Principal Financial Group Inc. now owns 10,988 shares of the company’s stock valued at $141,000 after buying an additional 147 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Endologix by 51.9% in the third quarter. BNP Paribas Arbitrage SA now owns 11,836 shares of the company’s stock valued at $152,000 after buying an additional 4,042 shares during the period.
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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