FY2020 EPS Estimates for Endologix Inc. Lowered by Leerink Swann (ELGX)
Endologix Inc. (NASDAQ:ELGX) – Leerink Swann decreased their FY2020 earnings per share (EPS) estimates for shares of Endologix in a report released on Thursday. Leerink Swann analyst R. Misra now anticipates that the firm will post earnings of $0.16 per share for the year, down from their prior forecast of $0.18. Leerink Swann has a “Hold” rating and a $13.00 price target on the stock.
Endologix (NASDAQ:ELGX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.20) by $0.07. Endologix had a negative net margin of 82.39% and a negative return on equity of 41.88%. The business had revenue of $51 million for the quarter, compared to analysts’ expectations of $46.30 million. During the same quarter last year, the company posted ($0.18) earnings per share. The company’s quarterly revenue was up 29.1% compared to the same quarter last year.
A number of other brokerages have also issued reports on ELGX. Piper Jaffray Cos. reissued an “overweight” rating and set a $15.00 target price on shares of Endologix in a research note on Monday, June 13th. Royal Bank Of Canada lifted their target price on shares of Endologix from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, June 13th. BMO Capital Markets raised shares of Endologix from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $11.50 to $16.00 in a research note on Thursday, July 7th. Oppenheimer Holdings Inc. set a $15.00 price objective on shares of Endologix and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, BTIG Research reaffirmed a “buy” rating on shares of Endologix in a research note on Sunday, May 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nine have given a buy rating to the company. Endologix currently has an average rating of “Buy” and an average target price of $13.79.
Shares of Endologix (NASDAQ:ELGX) traded up 1.16% during trading on Monday, hitting $13.04. 960,879 shares of the stock traded hands. The firm has a 50 day moving average price of $12.19 and a 200-day moving average price of $11.64. Endologix has a one year low of $6.51 and a one year high of $14.50. The company’s market cap is $1.07 billion.
A number of hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc boosted its stake in Endologix by 34.9% in the first quarter. Legal & General Group Plc now owns 12,570 shares of the company’s stock worth $106,000 after buying an additional 3,252 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Endologix during the first quarter worth $2,856,000. Bogle Investment Management L P DE acquired a new stake in Endologix during the first quarter worth $387,000. Geode Capital Management LLC boosted its stake in Endologix by 10.1% in the first quarter. Geode Capital Management LLC now owns 483,205 shares of the company’s stock worth $4,039,000 after buying an additional 44,187 shares during the last quarter. Finally, Altrinsic Global Advisors LLC boosted its stake in Endologix by 9.4% in the first quarter. Altrinsic Global Advisors LLC now owns 580,000 shares of the company’s stock worth $4,849,000 after buying an additional 50,000 shares during the last quarter.
In related news, insider Michael V. Chobotov sold 14,000 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $12.40, for a total value of $173,600.00. Following the sale, the insider now owns 189,269 shares of the company’s stock, valued at $2,346,935.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Jose A. Lima sold 4,710 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $11.68, for a total transaction of $55,012.80. Following the completion of the sale, the vice president now directly owns 42,594 shares in the company, valued at approximately $497,497.92. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
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.
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