JPMorgan Chase & Co. Lowers Endologix (ELGX) to Underweight

Endologix (NASDAQ:ELGX) was downgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued to clients and investors on Tuesday.

ELGX has been the topic of a number of other research reports. Royal Bank of Canada cut their price objective on shares of Endologix from $5.00 to $4.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 8th. Stifel Nicolaus set a $6.00 price objective on shares of Endologix and gave the stock a “hold” rating in a report on Friday, October 6th. BidaskClub cut shares of Endologix from a “buy” rating to a “hold” rating in a report on Friday, December 15th. ValuEngine cut shares of Endologix from a “sell” rating to a “strong sell” rating in a report on Sunday. Finally, Canaccord Genuity restated a “hold” rating and issued a $5.00 price objective on shares of Endologix in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $5.41.

Shares of Endologix (NASDAQ ELGX) opened at $5.35 on Tuesday. The firm has a market cap of $446.48, a PE ratio of -5.75 and a beta of 0.72. The company has a quick ratio of 2.11, a current ratio of 2.90 and a debt-to-equity ratio of 2.61. Endologix has a fifty-two week low of $4.08 and a fifty-two week high of $7.66.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Rhumbline Advisers lifted its stake in shares of Endologix by 0.4% in the second quarter. Rhumbline Advisers now owns 95,581 shares of the medical instruments supplier’s stock worth $465,000 after buying an additional 381 shares in the last quarter. Kopp Investment Advisors LLC lifted its stake in shares of Endologix by 11.5% in the second quarter. Kopp Investment Advisors LLC now owns 21,950 shares of the medical instruments supplier’s stock worth $107,000 after buying an additional 2,270 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Endologix by 4.3% in the second quarter. The Manufacturers Life Insurance Company now owns 66,890 shares of the medical instruments supplier’s stock worth $325,000 after buying an additional 2,738 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Endologix by 16.4% in the second quarter. Voya Investment Management LLC now owns 38,910 shares of the medical instruments supplier’s stock worth $189,000 after buying an additional 5,471 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Endologix by 11.5% in the second quarter. Alliancebernstein L.P. now owns 108,757 shares of the medical instruments supplier’s stock worth $529,000 after buying an additional 11,200 shares in 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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