Endologix (ELGX) Cut to Strong Sell at ValuEngine

Endologix (NASDAQ:ELGX) was downgraded by equities research analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a note issued to investors on Sunday.

Other analysts have also recently issued reports about the company. Canaccord Genuity restated a “hold” rating and set a $5.00 price target on shares of Endologix in a report on Wednesday, November 8th. Piper Jaffray Companies restated an “overweight” rating on shares of Endologix in a report on Tuesday, December 12th. Royal Bank of Canada restated a “hold” rating and set a $5.00 price target on shares of Endologix in a report on Tuesday, October 3rd. BidaskClub cut Endologix from a “buy” rating to a “hold” rating in a report on Friday, December 15th. Finally, Stifel Nicolaus reduced their price target on Endologix from $6.00 to $5.50 and set a “hold” rating on the stock in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the stock. Endologix currently has a consensus rating of “Hold” and a consensus price target of $5.41.

Endologix (ELGX) opened at $5.35 on Friday. The company has a market capitalization of $446.48, a PE ratio of -5.75 and a beta of 0.72. The company has a debt-to-equity ratio of 2.61, a quick ratio of 2.11 and a current ratio of 2.90. Endologix has a 52 week low of $4.08 and a 52 week high of $7.66.

A number of hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Endologix by 5.6% in the second quarter. Vanguard Group Inc. now owns 6,638,302 shares of the medical instruments supplier’s stock valued at $32,262,000 after acquiring an additional 353,233 shares during the last quarter. Redmile Group LLC boosted its holdings in Endologix by 134.4% in the second quarter. Redmile Group LLC now owns 6,368,299 shares of the medical instruments supplier’s stock valued at $30,950,000 after acquiring an additional 3,650,905 shares during the last quarter. State Street Corp boosted its holdings in Endologix by 11.5% in the second quarter. State Street Corp now owns 1,951,432 shares of the medical instruments supplier’s stock valued at $9,483,000 after acquiring an additional 201,700 shares during the last quarter. Northern Trust Corp boosted its holdings in Endologix by 5.0% in the second quarter. Northern Trust Corp now owns 1,104,943 shares of the medical instruments supplier’s stock valued at $5,369,000 after acquiring an additional 52,755 shares during the last quarter. Finally, Stephens Inc. AR boosted its holdings in Endologix by 10.5% in the second quarter. Stephens Inc. AR now owns 845,016 shares of the medical instruments supplier’s stock valued at $4,107,000 after acquiring an additional 80,328 shares during the last quarter.

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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.

Analyst Recommendations for Endologix (NASDAQ:ELGX)

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