Other research analysts also recently issued research reports about the company. BMO Capital Markets reaffirmed a buy rating and issued a $15.00 price objective on shares of Endologix in a research note on Wednesday, August 3rd. BTIG Research reaffirmed a buy rating and issued a $16.00 price objective on shares of Endologix in a research note on Wednesday, August 3rd. Canaccord Genuity reaffirmed a buy rating on shares of Endologix in a research note on Tuesday, July 12th. Guggenheim initiated coverage on Endologix in a research note on Wednesday, June 8th. They issued a buy rating and a $16.00 price objective for the company. Finally, Leerink Swann set a $13.00 price objective on Endologix and gave the company a hold rating in a research note on Saturday, September 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $13.79.
Shares of Endologix (NASDAQ:ELGX) opened at 12.92 on Tuesday. Endologix has a 12 month low of $6.51 and a 12 month high of $14.50. The firm’s market cap is $1.06 billion. The stock’s 50 day moving average is $12.25 and its 200 day moving average is $11.78.
Endologix (NASDAQ:ELGX) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.20) by $0.07. Endologix had a negative return on equity of 41.88% and a negative net margin of 82.39%. The company earned $51 million during the quarter, compared to the consensus estimate of $46.30 million. During the same quarter in the prior year, the firm posted ($0.18) earnings per share. The firm’s revenue was up 29.1% compared to the same quarter last year. Analysts forecast that Endologix will post ($0.74) EPS for the current fiscal year.
In related news, insider Michael V. Chobotov sold 14,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $12.40, for a total value of $173,600.00. Following the transaction, the insider now directly owns 189,269 shares in the company, valued at approximately $2,346,935.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jose A. Lima sold 4,710 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $11.68, for a total value of $55,012.80. Following the completion of the transaction, the vice president now owns 42,594 shares in the company, valued at $497,497.92. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of ELGX. Legal & General Group Plc boosted its position in shares of 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 in the last quarter. Nomura Holdings Inc. bought a new position in shares of Endologix during the second quarter valued at $128,000. OLD National Bancorp IN bought a new position in shares of Endologix during the second quarter valued at $129,000. Teacher Retirement System of Texas boosted its position in shares of Endologix by 15.8% in the second quarter. Teacher Retirement System of Texas now owns 10,333 shares of the company’s stock valued at $129,000 after buying an additional 1,407 shares during the period. Finally, Villere ST Denis J & Co. LLC bought a new position in shares of Endologix during the second quarter valued at $134,000.
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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