Endologix, Inc. (ELGX) Expected to Announce Quarterly Sales of $47.21 Million
Analysts expect that Endologix, Inc. (NASDAQ:ELGX) will post $47.21 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Endologix’s earnings, with the lowest sales estimate coming in at $46.00 million and the highest estimate coming in at $49.04 million. Endologix posted sales of $52.12 million in the same quarter last year, which suggests a negative year-over-year growth rate of 9.4%. The business is scheduled to issue its next earnings report after the market closes on Tuesday, November 7th.
On average, analysts expect that Endologix will report full-year sales of $47.21 million for the current financial year, with estimates ranging from $186.20 million to $188.90 million. For the next financial year, analysts forecast that the company will report sales of $200.16 million per share, with estimates ranging from $194.40 million to $205.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Endologix.
Endologix (NASDAQ:ELGX) last issued its earnings results on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.08. Endologix had a negative return on equity of 46.32% and a negative net margin of 40.77%. The business had revenue of $48.60 million during the quarter, compared to analysts’ expectations of $47.58 million. During the same quarter in the prior year, the firm earned ($0.20) EPS. The business’s revenue for the quarter was down 4.6% compared to the same quarter last year.
A number of brokerages have issued reports on ELGX. Canaccord Genuity reaffirmed a “hold” rating and issued a $5.00 target price on shares of Endologix in a report on Monday, October 9th. Stifel Nicolaus set a $6.00 price target on Endologix and gave the company a “hold” rating in a research report on Friday, October 6th. Royal Bank Of Canada reiterated a “hold” rating and issued a $5.00 price target on shares of Endologix in a research report on Tuesday, October 3rd. ValuEngine lowered Endologix from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st. Finally, BidaskClub lowered Endologix from a “hold” rating to a “sell” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $6.28.
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Shares of Endologix (NASDAQ ELGX) traded up $0.26 on Thursday, reaching $5.92. The company’s stock had a trading volume of 570,399 shares, compared to its average volume of 585,197. Endologix has a fifty-two week low of $4.08 and a fifty-two week high of $10.36. The company has a quick ratio of 2.12, a current ratio of 2.82 and a debt-to-equity ratio of 2.28.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Endologix by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,638,302 shares of the medical instruments supplier’s stock worth $32,262,000 after buying an additional 353,233 shares during the period. Redmile Group LLC raised its stake in shares of Endologix by 134.4% in the second quarter. Redmile Group LLC now owns 6,368,299 shares of the medical instruments supplier’s stock worth $30,950,000 after purchasing an additional 3,650,905 shares during the last quarter. State Street Corp raised its stake in shares of Endologix by 11.5% in the second quarter. State Street Corp now owns 1,951,432 shares of the medical instruments supplier’s stock worth $9,483,000 after purchasing an additional 201,700 shares during the last quarter. Northern Trust Corp raised its stake in shares of Endologix by 5.0% in the second quarter. Northern Trust Corp now owns 1,104,943 shares of the medical instruments supplier’s stock worth $5,369,000 after purchasing an additional 52,755 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its stake in shares of Endologix by 2.1% in the second quarter. Pictet Asset Management Ltd. now owns 894,318 shares of the medical instruments supplier’s stock worth $4,311,000 after purchasing an additional 18,110 shares during 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.
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