Endologix, Inc. (ELGX) Receives Average Rating of “Hold” from Analysts

Shares of Endologix, Inc. (NASDAQ:ELGX) have been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $2.90.

Several equities research analysts have recently issued reports on ELGX shares. BTIG Research lowered their price objective on shares of Endologix to $4.00 and set a “buy” rating for the company in a research report on Thursday, August 23rd. Zacks Investment Research cut shares of Endologix from a “hold” rating to a “sell” rating in a report on Tuesday, October 9th. BidaskClub cut shares of Endologix from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Piper Jaffray Companies reduced their target price on shares of Endologix to $3.00 and set a “neutral” rating for the company in a report on Wednesday, October 3rd. Finally, Oppenheimer set a $3.00 target price on shares of Endologix and gave the stock a “hold” rating in a report on Friday, November 2nd.

Shares of ELGX stock opened at $0.71 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.55 and a debt-to-equity ratio of 4.38. Endologix has a 12-month low of $0.67 and a 12-month high of $6.72. The firm has a market cap of $73.42 million, a PE ratio of -1.48 and a beta of 0.37.

Endologix (NASDAQ:ELGX) last issued its quarterly earnings data on Thursday, November 1st. The medical instruments supplier reported ($0.15) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.24) by $0.09. Endologix had a negative net margin of 41.19% and a negative return on equity of 89.31%. The company had revenue of $34.76 million during the quarter, compared to the consensus estimate of $33.04 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was down 24.4% compared to the same quarter last year. On average, research analysts anticipate that Endologix will post -0.68 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the stock. MetLife Investment Advisors LLC boosted its holdings in Endologix by 128.2% during the second quarter. MetLife Investment Advisors LLC now owns 41,313 shares of the medical instruments supplier’s stock worth $234,000 after purchasing an additional 23,210 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Endologix by 13.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 429,969 shares of the medical instruments supplier’s stock worth $2,434,000 after purchasing an additional 49,321 shares during the last quarter. Engineers Gate Manager LP acquired a new position in Endologix during the second quarter worth $442,000. BlackRock Inc. boosted its holdings in Endologix by 11.1% during the second quarter. BlackRock Inc. now owns 5,644,438 shares of the medical instruments supplier’s stock worth $31,948,000 after purchasing an additional 565,175 shares during the last quarter. Finally, Marshall Wace LLP acquired a new stake in Endologix in the third quarter valued at $238,000. Institutional investors and hedge funds own 73.96% of the company’s stock.

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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Analyst Recommendations for Endologix (NASDAQ:ELGX)

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