Endologix, Inc. (ELGX) Stock Rating Reaffirmed by Royal Bank Of Canada
Endologix, Inc. (NASDAQ:ELGX)‘s stock had its “hold” rating restated by Royal Bank Of Canada in a research report issued on Tuesday. They currently have a $5.00 target price on the medical instruments supplier’s stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 3.09% from the company’s previous close.
Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of Endologix from a “sell” rating to a “strong sell” rating in a report on Friday, September 1st. Oppenheimer Holdings, Inc. set a $5.00 target price on Endologix and gave the company a “hold” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised Endologix from a “hold” rating to a “strong-buy” rating and set a $5.75 target price for the company in a report on Monday, July 24th. Stifel Nicolaus set a $6.00 price target on Endologix and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub downgraded Endologix from a “hold” rating to a “sell” rating in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating and eleven have assigned a hold rating to the company’s stock. Endologix has a consensus rating of “Hold” and an average target price of $6.28.
Shares of Endologix (NASDAQ:ELGX) opened at 4.85 on Tuesday. Endologix has a 1-year low of $4.08 and a 1-year high of $13.25. The firm has a 50-day moving average of $4.37 and a 200 day moving average of $5.36. The stock’s market cap is $404.66 million.
Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Wednesday, August 2nd. The medical instruments supplier reported ($0.10) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.18) by $0.08. The company had revenue of $48.60 million for the quarter, compared to the consensus estimate of $47.58 million. Endologix had a negative net margin of 40.77% and a negative return on equity of 46.32%. Endologix’s revenue for the quarter was down 4.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.20) EPS. Equities research analysts forecast that Endologix will post ($0.62) earnings per share for the current year.
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Several institutional investors have recently modified their holdings of ELGX. Dynamic Technology Lab Private Ltd bought a new stake in shares of Endologix during the 2nd quarter valued at $142,000. Verition Fund Management LLC purchased a new stake in shares of Endologix in the 2nd quarter worth $111,000. The Manufacturers Life Insurance Company increased its stake in shares of Endologix by 4.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,890 shares of the medical instruments supplier’s stock worth $325,000 after purchasing an additional 2,738 shares in the last quarter. Redmile Group LLC increased its stake in shares of Endologix by 134.4% in the 2nd 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 in the last quarter. Finally, State Street Corp raised its holdings in Endologix by 11.5% in the 2nd 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 period.
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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