Endologix, Inc. (NASDAQ:ELGX) – Equities researchers at Oppenheimer Holdings reduced their FY2016 earnings estimates for Endologix in a research report issued on Thursday. Oppenheimer Holdings analyst S. Lichtman now expects that the firm will earn ($0.72) per share for the year, down from their previous estimate of ($0.67). Oppenheimer Holdings has a “Buy” rating and a $11.00 price target on the stock. Oppenheimer Holdings also issued estimates for Endologix’s Q4 2016 earnings at ($0.16) EPS, Q3 2017 earnings at ($0.16) EPS, FY2017 earnings at ($0.69) EPS and FY2018 earnings at ($0.36) EPS.
Other equities research analysts have also recently issued reports about the company. Canaccord Genuity set a $15.00 target price on Endologix and gave the stock a “buy” rating in a report on Sunday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $9.00 target price (down from $11.00) on shares of Endologix in a report on Friday, January 6th. Zacks Investment Research raised Endologix from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Wednesday, January 18th. Leerink Swann set a $11.00 target price on Endologix and gave the stock a “hold” rating in a report on Wednesday, November 2nd. Finally, RBC Capital Markets reaffirmed a “hold” rating and issued a $8.00 target price on shares of Endologix in a report on Friday, January 6th. Eight investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $10.52.
Shares of Endologix (NASDAQ:ELGX) opened at 6.75 on Monday. The firm has a 50 day moving average price of $6.38 and a 200 day moving average price of $10.27. Endologix has a 52 week low of $4.78 and a 52 week high of $14.50. The company’s market capitalization is $558.16 million.
Endologix (NASDAQ:ELGX) last issued its earnings results on Tuesday, November 1st. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.03. The firm earned $52.12 million during the quarter, compared to the consensus estimate of $51.83 million. Endologix had a negative net margin of 78.53% and a negative return on equity of 39.12%. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.16) earnings per share.
Several hedge funds and other institutional investors have recently made changes to their positions in ELGX. BlackRock Investment Management LLC raised its position in shares of Endologix by 14.4% in the second quarter. BlackRock Investment Management LLC now owns 375,948 shares of the company’s stock valued at $4,684,000 after buying an additional 47,292 shares during the period. BlackRock Advisors LLC raised its position in shares of Endologix by 6.4% in the second quarter. BlackRock Advisors LLC now owns 656,439 shares of the company’s stock valued at $8,180,000 after buying an additional 39,600 shares during the period. Vanguard Group Inc. raised its position in shares of Endologix by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,575,344 shares of the company’s stock valued at $69,468,000 after buying an additional 187,246 shares during the period. Prudential Financial Inc. raised its position in shares of Endologix by 54.3% in the second quarter. Prudential Financial Inc. now owns 36,507 shares of the company’s stock valued at $455,000 after buying an additional 12,850 shares during the period. Finally, Teacher Retirement System of Texas raised 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.
In other Endologix news, Director Guido J. Neels bought 13,000 shares of the company’s stock in a transaction on Friday, November 18th. The stock was acquired at an average price of $7.69 per share, for a total transaction of $99,970.00. Following the completion of the transaction, the director now directly owns 41,380 shares of the company’s stock, valued at $318,212.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Vaseem Mahboob bought 20,000 shares of the company’s stock in a transaction on Tuesday, December 13th. The shares were acquired at an average price of $6.25 per share, with a total value of $125,000.00. Following the transaction, the chief financial officer now directly owns 108,511 shares of the company’s stock, valued at $678,193.75. The disclosure for this purchase can be found here. Insiders have acquired 46,000 shares of company stock valued at $311,200 in the last 90 days. Company insiders own 3.90% of the company’s stock.
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.