Endologix, Inc. (ELGX) Lifted to “Hold” at Zacks Investment Research

Endologix, Inc. (NASDAQ:ELGX) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Friday, May 5th.

According to Zacks, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis. “

ELGX has been the subject of a number of other research reports. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Endologix in a research note on Wednesday, April 5th. BMO Capital Markets restated a “hold” rating and issued a $7.00 target price on shares of Endologix in a research note on Tuesday, April 11th. BTIG Research restated a “buy” rating and issued a $9.00 target price (down previously from $11.00) on shares of Endologix in a research note on Friday, January 6th. Finally, Royal Bank of Canada restated a “hold” rating and issued a $8.00 target price on shares of Endologix in a research note on Friday, January 6th. Eleven equities research analysts have rated the stock with 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 $8.43.

Analyst Recommendations for Endologix (NASDAQ:ELGX)

Shares of Endologix (NASDAQ:ELGX) traded up 4.23% during midday trading on Friday, reaching $4.44. The company’s stock had a trading volume of 4,750,154 shares. The company’s market cap is $368.41 million. Endologix has a 12 month low of $4.21 and a 12 month high of $14.50. The stock has a 50-day moving average of $6.82 and a 200 day moving average of $6.96.

Endologix (NASDAQ:ELGX) last released its quarterly earnings results on Thursday, May 4th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.06. The business had revenue of $42.60 million during the quarter, compared to the consensus estimate of $41.15 million. Endologix had a negative return on equity of 39.12% and a negative net margin of 78.53%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.25) EPS. On average, analysts predict that Endologix will post ($0.63) earnings per share for the current fiscal year.

TRADEMARK VIOLATION WARNING: “Endologix, Inc. (ELGX) Lifted to “Hold” at Zacks Investment Research” was first published by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.chaffeybreeze.com/2017/05/20/endologix-inc-elgx-upgraded-at-zacks-investment-research-updated.html.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brown Capital Management LLC boosted its position in Endologix by 21.1% in the fourth quarter. Brown Capital Management LLC now owns 6,113,620 shares of the medical instruments supplier’s stock valued at $34,970,000 after buying an additional 1,063,327 shares during the last quarter. William Harris Investors Inc. raised its position in shares of Endologix by 76.3% in the fourth quarter. William Harris Investors Inc. now owns 92,391 shares of the medical instruments supplier’s stock valued at $528,000 after buying an additional 40,000 shares during the period. Candriam Luxembourg S.C.A. raised its position in shares of Endologix by 8.8% in the third quarter. Candriam Luxembourg S.C.A. now owns 247,000 shares of the medical instruments supplier’s stock valued at $3,162,000 after buying an additional 20,000 shares during the period. Mackenzie Financial Corp raised its position in shares of Endologix by 2.4% in the third quarter. Mackenzie Financial Corp now owns 1,844,214 shares of the medical instruments supplier’s stock valued at $23,606,000 after buying an additional 43,294 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its position in shares of Endologix by 66.7% in the third quarter. Adage Capital Partners GP L.L.C. now owns 250,000 shares of the medical instruments supplier’s stock valued at $3,200,000 after buying an additional 100,000 shares during the period.

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.

12 Month Chart for NASDAQ:ELGX

Get a free copy of the Zacks research report on Endologix (ELGX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Endologix Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Endologix Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply