Endologix (NASDAQ:ELGX) Shares Up 5.3%

Endologix, Inc. (NASDAQ:ELGX) shot up 5.3% during mid-day trading on Tuesday . The stock traded as high as $6.88 and last traded at $6.80, 476,221 shares traded hands during trading. An increase of 98% from the average session volume of 240,139 shares. The stock had previously closed at $6.46.

Several research firms recently issued reports on ELGX. Zacks Investment Research cut shares of Endologix from a “buy” rating to a “hold” rating in a report on Wednesday, July 24th. Royal Bank of Canada set a $7.00 price target on shares of Endologix and gave the stock a “hold” rating in a report on Friday. Finally, ValuEngine raised shares of Endologix from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $20.25.

The company has a debt-to-equity ratio of 11.12, a current ratio of 1.58 and a quick ratio of 0.90. The company has a market capitalization of $107.23 million, a P/E ratio of -0.94 and a beta of 0.37. The business’s fifty day moving average price is $6.84.

Endologix (NASDAQ:ELGX) last issued its earnings results on Thursday, August 8th. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.80) by $0.43. Endologix had a negative net margin of 60.32% and a negative return on equity of 154.23%. The company had revenue of $36.24 million during the quarter, compared to analysts’ expectations of $36.09 million. Analysts expect that Endologix, Inc. will post -3.23 earnings per share for the current fiscal year.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Endologix by 8.9% during the 4th quarter. BlackRock Inc. now owns 6,208,597 shares of the medical instruments supplier’s stock worth $4,446,000 after purchasing an additional 509,493 shares in the last quarter. Northern Trust Corp increased its stake in shares of Endologix by 15.9% during the 4th quarter. Northern Trust Corp now owns 1,215,671 shares of the medical instruments supplier’s stock worth $871,000 after purchasing an additional 166,409 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Endologix by 22.9% during the 4th quarter. Geode Capital Management LLC now owns 1,059,281 shares of the medical instruments supplier’s stock worth $757,000 after purchasing an additional 197,351 shares in the last quarter. Norges Bank purchased a new position in shares of Endologix during the 4th quarter worth approximately $545,000. Finally, Renaissance Technologies LLC increased its stake in shares of Endologix by 868.3% during the 2nd quarter. Renaissance Technologies LLC now owns 613,906 shares of the medical instruments supplier’s stock worth $4,445,000 after purchasing an additional 550,506 shares in the last quarter. 48.44% of the stock is owned by institutional investors.

Endologix Company Profile (NASDAQ:ELGX)

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular aneurysm repair (EVAR), 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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