Endologix (ELGX) Stock Price Down 5.1%

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Endologix, Inc. (NASDAQ:ELGX)’s share price dropped 5.1% during trading on Monday . The company traded as low as $1.49 and last traded at $1.50. Approximately 803,959 shares changed hands during trading, an increase of 22% from the average daily volume of 658,874 shares. The stock had previously closed at $1.58.

ELGX has been the subject of a number of recent research reports. BidaskClub downgraded shares of Endologix from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 25th. ValuEngine downgraded shares of Endologix from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Piper Jaffray Companies downgraded shares of Endologix from an “overweight” rating to a “neutral” rating in a research note on Friday, August 10th. Oppenheimer set a $4.00 price objective on shares of Endologix and gave the stock a “hold” rating in a research note on Friday, August 10th. Finally, BMO Capital Markets restated a “hold” rating and set a $4.00 price objective (down from $6.50) on shares of Endologix in a research note on Friday, August 10th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $3.86.

The company has a market cap of $133.84 million, a PE ratio of -3.13 and a beta of 0.01. The company has a current ratio of 1.90, a quick ratio of 1.20 and a debt-to-equity ratio of 5.37.

Endologix (NASDAQ:ELGX) last issued its earnings results on Thursday, August 9th. The medical instruments supplier reported ($0.18) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.18). Endologix had a negative net margin of 40.92% and a negative return on equity of 69.06%. The business had revenue of $44.70 million during the quarter, compared to the consensus estimate of $44.43 million. During the same period last year, the business posted ($0.10) EPS. Endologix’s revenue was down 8.0% on a year-over-year basis. Equities research analysts expect that Endologix, Inc. will post -0.86 EPS for the current year.

In related news, CFO Vaseem Mahboob acquired 30,000 shares of the business’s stock in a transaction on Thursday, August 16th. The stock was purchased at an average cost of $2.43 per share, for a total transaction of $72,900.00. Following the completion of the transaction, the chief financial officer now directly owns 146,812 shares of the company’s stock, valued at approximately $356,753.16. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 4.10% of the company’s stock.

Hedge funds have recently modified their holdings of the business. MetLife Investment Advisors LLC lifted its position in Endologix by 128.2% during the second quarter. MetLife Investment Advisors LLC now owns 41,313 shares of the medical instruments supplier’s stock worth $234,000 after acquiring an additional 23,210 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in Endologix during the second quarter worth approximately $442,000. Schwab Charles Investment Management Inc. lifted its position in Endologix by 8.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 380,648 shares of the medical instruments supplier’s stock worth $1,611,000 after acquiring an additional 30,585 shares during the last quarter. C WorldWide Group Holding A S lifted its position in Endologix by 22.3% during the second quarter. C WorldWide Group Holding A S now owns 364,464 shares of the medical instruments supplier’s stock worth $2,063,000 after acquiring an additional 66,486 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in Endologix by 14.0% during the second quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,431,962 shares of the medical instruments supplier’s stock worth $8,105,000 after acquiring an additional 175,970 shares during the last quarter. Hedge funds and other institutional investors own 94.05% of the company’s stock.

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.

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