Canaccord Genuity Reaffirms “Hold” Rating for Endologix, Inc. (ELGX)

Canaccord Genuity restated their hold rating on shares of Endologix, Inc. (NASDAQ:ELGX) in a report released on Monday. Canaccord Genuity currently has a $5.00 price target on the medical instruments supplier’s stock.

ELGX has been the subject of a number of other reports. ValuEngine cut shares of Endologix from a sell rating to a strong sell rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Endologix from a hold rating to a strong-buy rating and set a $5.75 target price for the company in a report on Monday, July 24th. Royal Bank Of Canada reaffirmed a hold rating and set a $5.00 target price on shares of Endologix in a report on Monday, July 31st. Stifel Nicolaus set a $6.00 target price on shares of Endologix and gave the company a hold rating in a report on Friday, October 6th. Finally, BidaskClub cut shares of Endologix from a hold rating to a sell rating in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating and eleven have given a hold rating to the company. The stock has an average rating of Hold and a consensus price target of $6.28.

Endologix (NASDAQ:ELGX) opened at 5.09 on Monday. The company’s market capitalization is $424.68 million. Endologix has a 12-month low of $4.08 and a 12-month high of $13.17. The company has a 50-day moving average of $4.62 and a 200 day moving average of $5.30.

Endologix (NASDAQ:ELGX) last announced its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.18) by $0.08. Endologix had a negative net margin of 40.77% and a negative return on equity of 46.32%. The business had revenue of $48.60 million during the quarter, compared to analysts’ expectations of $47.58 million. During the same period in the prior year, the company earned ($0.20) earnings per share. The firm’s revenue was down 4.6% on a year-over-year basis. Equities research analysts forecast that Endologix will post ($0.62) earnings per share for the current fiscal year.

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Several hedge funds and other institutional investors have recently made changes to their positions in ELGX. Redmile Group LLC increased its stake in shares of Endologix by 134.4% in the second quarter. Redmile Group LLC now owns 6,368,299 shares of the medical instruments supplier’s stock worth $30,950,000 after purchasing an additional 3,650,905 shares in the last quarter. Camber Capital Management LLC boosted its position in shares of Endologix by 65.1% during the first quarter. Camber Capital Management LLC now owns 6,000,000 shares of the medical instruments supplier’s stock worth $43,440,000 after acquiring an additional 2,365,000 shares during the last quarter. Point72 Asset Management L.P. boosted its position in shares of Endologix by 17,682.9% during the first quarter. Point72 Asset Management L.P. now owns 622,400 shares of the medical instruments supplier’s stock worth $4,506,000 after acquiring an additional 618,900 shares during the last quarter. TimesSquare Capital Management LLC boosted its position in shares of Endologix by 10.8% during the first quarter. TimesSquare Capital Management LLC now owns 3,814,670 shares of the medical instruments supplier’s stock worth $27,618,000 after acquiring an additional 371,885 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Endologix by 5.6% during the second quarter. Vanguard Group Inc. now owns 6,638,302 shares of the medical instruments supplier’s stock worth $32,262,000 after acquiring an additional 353,233 shares during the last quarter.

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.

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