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

Endologix, Inc. (NASDAQ:ELGX) has been given a consensus recommendation of “Hold” by the ten ratings firms that are covering the firm. Seven analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $9.40.

Several equities research analysts have weighed in on ELGX shares. Zacks Investment Research raised Endologix from a “hold” rating to a “buy” rating and set a $7.00 price target on the stock in a research report on Wednesday, January 18th. Oppenheimer Holdings Inc. set a $10.00 target price on shares of Endologix and gave the stock a “buy” rating in a research note on Thursday, February 23rd. BTIG Research reissued a “buy” rating and set a $9.00 target price (down from $11.00) on shares of Endologix in a research note on Friday, January 6th. Royal Bank of Canada reissued a “hold” rating and set a $8.00 target price on shares of Endologix in a research note on Friday, January 6th. Finally, Canaccord Genuity reissued a “hold” rating and set a $6.30 target price (down from $7.50) on shares of Endologix in a research note on Wednesday, December 28th.

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Shares of Endologix (NASDAQ:ELGX) opened at 6.93 on Tuesday. The firm’s 50-day moving average price is $6.73 and its 200 day moving average price is $8.58. Endologix has a 52 week low of $4.78 and a 52 week high of $14.50. The company’s market capitalization is $574.67 million.

Endologix (NASDAQ:ELGX) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.19) by $0.03. The company had revenue of $47.46 million for the quarter, compared to analyst estimates of $48.69 million. Endologix had a negative return on equity of 39.12% and a negative net margin of 78.53%. Endologix’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. Equities analysts predict that Endologix will post ($0.61) EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of ELGX. Jennison Associates LLC bought a new position in shares of Endologix during the third quarter worth $265,000. Menta Capital LLC bought a new position in shares of Endologix during the fourth quarter worth $132,000. Rothschild Asset Management Inc. raised its position in shares of Endologix by 2.1% in the third quarter. Rothschild Asset Management Inc. now owns 29,828 shares of the company’s stock worth $382,000 after buying an additional 608 shares in the last quarter. TD Asset Management Inc. bought a new position in shares of Endologix during the third quarter worth $467,000. Finally, Prudential Financial Inc. raised its position in shares of Endologix by 33.1% in the third quarter. Prudential Financial Inc. now owns 48,587 shares of the company’s stock worth $622,000 after buying an additional 12,080 shares in the last quarter.

Endologix Company Profile

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.

5 Day Chart for NASDAQ:ELGX

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