The Endologix, Inc. (ELGX) Raised to “Buy” at Zacks Investment Research

The Endologix, Inc. (ELGX) Raised to “Buy” at Zacks Investment Research

Endologix, Inc. (NASDAQ:ELGX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The firm presently has a $7.00 price target on the stock. Zacks Investment Research’s target price would indicate a potential upside of 9.37% from the company’s previous close.

According to Zacks, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis. “

A number of other brokerages have also recently commented on ELGX. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $15.00 price target on shares of Endologix in a research note on Tuesday, September 27th. Guggenheim cut shares of Endologix from a “buy” rating to a “neutral” rating in a research note on Wednesday, November 16th. Leerink Swann set a $8.00 price target on shares of Endologix and gave the company a “hold” rating in a research note on Saturday, November 19th. Canaccord Genuity cut shares of Endologix from a “buy” rating to a “hold” rating and cut their price target for the company from $13.50 to $7.50 in a research note on Wednesday, November 16th. Finally, BMO Capital Markets cut shares of Endologix from an “outperform” rating to a “market perform” rating and cut their price target for the company from $14.00 to $9.50 in a research note on Thursday, January 12th. Seven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $10.52.

Shares of Endologix (NASDAQ:ELGX) traded up 0.79% during mid-day trading on Wednesday, hitting $6.40. 1,816,407 shares of the stock traded hands. The firm’s market capitalization is $529.22 million. Endologix has a one year low of $4.78 and a one year high of $14.49. The company’s 50 day moving average is $6.49 and its 200 day moving average is $10.59.

Endologix (NASDAQ:ELGX) last announced its earnings results on Tuesday, November 1st. The company reported ($0.18) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. Endologix had a negative return on equity of 39.12% and a negative net margin of 78.53%. The business had revenue of $52.12 million for the quarter, compared to analyst estimates of $51.83 million. During the same quarter in the previous year, the company posted ($0.16) EPS. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. On average, equities analysts expect that Endologix will post ($0.74) EPS for the current fiscal year.

In other news, Director Guido J. Neels bought 13,000 shares of the firm’s stock in a transaction on Friday, November 18th. The shares were purchased at an average cost of $7.69 per share, with a total value of $99,970.00. Following the acquisition, the director now directly owns 41,380 shares in the company, valued at $318,212.20. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John D. Mcdermott bought 10,000 shares of the firm’s stock in a transaction on Wednesday, December 14th. The stock was purchased at an average cost of $6.67 per share, for a total transaction of $66,700.00. Following the completion of the acquisition, the chief executive officer now owns 657,608 shares in the company, valued at $4,386,245.36. The disclosure for this purchase can be found here. Corporate insiders own 3.90% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ELGX. Principal Financial Group Inc. raised its position in Endologix by 1.4% in the third quarter. Principal Financial Group Inc. now owns 10,988 shares of the company’s stock valued at $141,000 after buying an additional 147 shares in the last quarter. Rhumbline Advisers raised its position in Endologix by 0.4% in the third quarter. Rhumbline Advisers now owns 84,493 shares of the company’s stock valued at $1,082,000 after buying an additional 360 shares in the last quarter. Rothschild Asset Management Inc. raised its position in Endologix by 2.1% in the third quarter. Rothschild Asset Management Inc. now owns 29,828 shares of the company’s stock valued at $382,000 after buying an additional 608 shares in the last quarter. JPMorgan Chase & Co. raised its position in Endologix by 1.9% in the third quarter. JPMorgan Chase & Co. now owns 32,972 shares of the company’s stock valued at $422,000 after buying an additional 608 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its position in 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 in 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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