Zacks: Analysts Anticipate Endologix, Inc. (NASDAQ:ELGX) Will Announce Quarterly Sales of $33.86 Million

Wall Street analysts expect Endologix, Inc. (NASDAQ:ELGX) to announce $33.86 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Endologix’s earnings. The lowest sales estimate is $33.50 million and the highest is $34.00 million. Endologix posted sales of $34.69 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.4%. The business is expected to report its next earnings report on Monday, February 24th.

According to Zacks, analysts expect that Endologix will report full year sales of $141.50 million for the current financial year, with estimates ranging from $141.10 million to $141.70 million. For the next financial year, analysts forecast that the firm will report sales of $149.17 million, with estimates ranging from $148.60 million to $149.46 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Endologix.

Endologix (NASDAQ:ELGX) last issued its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.08. The firm had revenue of $35.78 million during the quarter, compared to the consensus estimate of $35.26 million. Endologix had a negative return on equity of 99.62% and a negative net margin of 58.24%.

A number of research analysts have commented on ELGX shares. Zacks Investment Research downgraded Endologix from a “hold” rating to a “sell” rating in a report on Friday, November 8th. ValuEngine raised Endologix from a “hold” rating to a “buy” rating in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Endologix presently has an average rating of “Hold” and an average price target of $7.17.

Several hedge funds and other institutional investors have recently made changes to their positions in ELGX. Public Employees Retirement System of Ohio bought a new stake in shares of Endologix in the 3rd quarter worth approximately $42,000. Jane Street Group LLC bought a new stake in shares of Endologix in the 2nd quarter worth approximately $91,000. Russell Investments Group Ltd. acquired a new stake in Endologix in the 3rd quarter valued at approximately $96,000. Zacks Investment Management acquired a new stake in Endologix in the 2nd quarter valued at approximately $108,000. Finally, HighTower Advisors LLC acquired a new stake in Endologix in the 2nd quarter valued at approximately $145,000. 75.64% of the stock is currently owned by institutional investors and hedge funds.

ELGX traded up $0.07 on Friday, reaching $2.03. The company’s stock had a trading volume of 273,514 shares, compared to its average volume of 241,722. The stock has a market cap of $36.42 million, a price-to-earnings ratio of -0.31 and a beta of 0.19. Endologix has a 1 year low of $1.55 and a 1 year high of $8.95. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.22 and a quick ratio of 1.55. The business’s 50 day moving average is $2.02 and its 200 day moving average is $4.11.

About Endologix

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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