Endologix (ELGX) Hits New 12-Month Low After Analyst Downgrade
Endologix, Inc. (NASDAQ:ELGX)’s share price hit a new 52-week low during mid-day trading on Thursday after BTIG Research lowered their price target on the stock to $4.00. BTIG Research currently has a buy rating on the stock. Endologix traded as low as $2.33 and last traded at $2.36, with a volume of 38952 shares. The stock had previously closed at $2.50.
A number of other equities analysts have also weighed in on ELGX. BidaskClub lowered shares of Endologix from a “hold” rating to a “sell” rating in a research report on Friday, August 17th. Oppenheimer set a $4.00 price objective on shares of Endologix and gave the company a “hold” rating in a research report on Friday, August 10th. ValuEngine upgraded shares of Endologix from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Stifel Nicolaus set a $3.00 price objective on shares of Endologix and gave the company a “hold” rating in a research report on Saturday, August 11th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $4.00 price objective (down from $6.50) on shares of Endologix in a research report on Friday, August 10th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.00.
In related news, CFO Vaseem Mahboob bought 30,000 shares of the firm’s stock in a transaction on Thursday, August 16th. The shares were bought at an average cost of $2.43 per share, for a total transaction of $72,900.00. Following the transaction, the chief financial officer now owns 146,812 shares of the company’s stock, valued at $356,753.16. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.90% of the company’s stock.
The company has a debt-to-equity ratio of 5.37, a quick ratio of 1.20 and a current ratio of 1.90.
Endologix (NASDAQ:ELGX) last released its quarterly earnings results on Thursday, August 9th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.18). The business had revenue of $44.70 million during the quarter, compared to the consensus estimate of $44.43 million. Endologix had a negative return on equity of 69.06% and a negative net margin of 40.92%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) EPS. equities research analysts predict that Endologix, Inc. will post -0.81 earnings per share for the current year.
About Endologix (NASDAQ:ELGX)
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.
Further Reading: How are Outstanding Shares Different from Authorized Shares?
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