Endologix (ELGX) Downgraded by ValuEngine

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Endologix (NASDAQ:ELGX) was downgraded by equities research analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday, ValuEngine reports.

ELGX has been the topic of a number of other research reports. Zacks Investment Research lowered shares of Endologix from a “hold” rating to a “sell” rating in a research note on Monday, March 11th. BTIG Research reaffirmed a “buy” rating on shares of Endologix in a research note on Tuesday, February 26th. Finally, Stifel Nicolaus set a $7.00 price target on shares of Endologix and gave the company a “hold” rating in a research note on Monday, April 1st. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $25.63.

ELGX traded up $0.27 during trading on Wednesday, reaching $6.59. The company had a trading volume of 4,278 shares, compared to its average volume of 162,201. The company has a debt-to-equity ratio of 5.00, a quick ratio of 1.25 and a current ratio of 2.03. Endologix has a 12 month low of $5.20 and a 12 month high of $67.20. The firm has a market cap of $66.43 million, a P/E ratio of -0.91 and a beta of 0.58.

Endologix (NASDAQ:ELGX) last announced its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported ($1.12) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.56) by $0.44. Endologix had a negative net margin of 50.94% and a negative return on equity of 138.32%. The firm had revenue of $35.61 million for the quarter, compared to analyst estimates of $34.18 million. On average, sell-side analysts anticipate that Endologix will post -3.97 earnings per share for the current fiscal year.

In other Endologix news, CEO John Onopchenko acquired 30,257 shares of the stock in a transaction dated Wednesday, April 3rd. The shares were bought at an average cost of $6.61 per share, for a total transaction of $199,998.77. Following the completion of the acquisition, the chief executive officer now directly owns 96,360 shares of the company’s stock, valued at $636,939.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Vaseem Mahboob acquired 15,128 shares of the stock in a transaction dated Wednesday, April 3rd. The stock was acquired at an average price of $6.61 per share, for a total transaction of $99,996.08. Following the completion of the acquisition, the chief financial officer now directly owns 76,820 shares of the company’s stock, valued at $507,780.20. The disclosure for this purchase can be found here. Insiders bought 48,410 shares of company stock worth $319,990 over the last quarter. 1.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of ELGX. Citigroup Inc. raised its holdings in shares of Endologix by 279.2% in the fourth quarter. Citigroup Inc. now owns 51,448 shares of the medical instruments supplier’s stock valued at $37,000 after purchasing an additional 37,882 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in shares of Endologix in the fourth quarter valued at approximately $46,000. Assenagon Asset Management S.A. acquired a new stake in shares of Endologix in the fourth quarter valued at approximately $55,000. Jane Street Group LLC raised its holdings in shares of Endologix by 54.6% in the fourth quarter. Jane Street Group LLC now owns 93,572 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 33,044 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its holdings in shares of Endologix by 408.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 99,731 shares of the medical instruments supplier’s stock valued at $71,000 after purchasing an additional 80,100 shares during the last quarter.

About Endologix

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company offers minimally-invasive endovascular aneurysm repair (EVAR), 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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Analyst Recommendations for Endologix (NASDAQ:ELGX)

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