Endologix, Inc. (ELGX) Expected to Announce Earnings of -$0.25 Per Share

Wall Street brokerages forecast that Endologix, Inc. (NASDAQ:ELGX) will report earnings per share (EPS) of ($0.25) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Endologix’s earnings, with the lowest EPS estimate coming in at ($0.33) and the highest estimate coming in at ($0.19). Endologix reported earnings of ($0.11) per share during the same quarter last year, which would suggest a negative year over year growth rate of 127.3%. The firm is scheduled to issue its next earnings report on Tuesday, November 6th.

According to Zacks, analysts expect that Endologix will report full year earnings of ($0.86) per share for the current financial year, with EPS estimates ranging from ($1.06) to ($0.70). For the next financial year, analysts expect that the business will report earnings of ($0.69) per share, with EPS estimates ranging from ($0.91) to ($0.52). Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Endologix.

Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Thursday, August 9th. The medical instruments supplier reported ($0.18) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). The company had revenue of $44.70 million for the quarter, compared to the consensus estimate of $44.43 million. Endologix had a negative return on equity of 69.06% and a negative net margin of 40.92%. Endologix’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.10) EPS.

ELGX has been the topic of a number of recent research reports. Piper Jaffray Companies dropped their price target on Endologix to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 3rd. BidaskClub downgraded Endologix from a “buy” rating to a “hold” rating in a research report on Tuesday, August 7th. ValuEngine downgraded Endologix from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Stifel Nicolaus set a $3.00 price target on Endologix and gave the stock a “hold” rating in a research report on Saturday, August 11th. Finally, Oppenheimer set a $4.00 price target on Endologix and gave the stock a “hold” rating in a research report on Friday, August 10th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $3.86.

Endologix stock traded down $0.10 during mid-day trading on Friday, hitting $1.58. The company’s stock had a trading volume of 472,266 shares, compared to its average volume of 658,160. The company has a market capitalization of $147.39 million and a PE ratio of -3.31. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 5.37. Endologix has a one year low of $1.49 and a one year high of $6.72.

In other news, CFO Vaseem Mahboob purchased 30,000 shares of the company’s stock in a transaction dated Thursday, August 16th. The shares were acquired at an average price of $2.43 per share, with a total value of $72,900.00. Following the transaction, the chief financial officer now owns 146,812 shares of the company’s stock, valued at $356,753.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.90% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC grew its position in shares of Endologix by 128.2% during the 2nd quarter. MetLife Investment Advisors LLC now owns 41,313 shares of the medical instruments supplier’s stock worth $234,000 after buying an additional 23,210 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Endologix during the 2nd quarter worth $442,000. C WorldWide Group Holding A S lifted its stake in shares of Endologix by 22.3% during the 2nd quarter. C WorldWide Group Holding A S now owns 364,464 shares of the medical instruments supplier’s stock worth $2,063,000 after purchasing an additional 66,486 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Endologix by 8.7% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 380,648 shares of the medical instruments supplier’s stock worth $1,611,000 after purchasing an additional 30,585 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Endologix by 14.0% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,431,962 shares of the medical instruments supplier’s stock worth $8,105,000 after purchasing an additional 175,970 shares during the last quarter. 94.13% of the stock is currently owned by institutional investors and hedge funds.

About Endologix

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. It offers minimally-invasive endovascular repair (EVAR) products, including AFX (Anatomical Fixation) endovascular AAA system, which is a minimally invasive delivery system; VELA Proximal Endograft, which is designed for the treatment of proximal aortic neck anatomies with AFX; and the ovation abdominal stent graft system.

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