Endologix (NASDAQ:ELGX) Cut to Hold at ValuEngine

ValuEngine lowered shares of Endologix (NASDAQ:ELGX) from a buy rating to a hold rating in a research note released on Monday, April 1st, ValuEngine reports.

ELGX has been the topic of several other reports. Zacks Investment Research upgraded shares of Endologix from a hold rating to a buy rating and set a $7.50 price target on the stock in a research report on Monday, January 28th. BTIG Research reissued a buy rating on shares of Endologix in a research note on Tuesday, February 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. Endologix has an average rating of Hold and an average price target of $25.63.

NASDAQ ELGX traded down $0.20 during trading hours on Monday, hitting $5.85. 2,087 shares of the stock were exchanged, compared to its average volume of 159,475. The stock has a market capitalization of $62.61 million, a P/E ratio of -0.83 and a beta of 0.58. Endologix has a 12-month low of $5.20 and a 12-month high of $67.20. The company has a quick ratio of 1.25, a current ratio of 2.03 and a debt-to-equity ratio of 5.00.

Endologix (NASDAQ:ELGX) last issued its earnings results on Monday, February 25th. The medical instruments supplier reported ($2.10) earnings per share for the quarter, topping the consensus estimate of ($21.00) by $18.90. Endologix had a negative net margin of 50.94% and a negative return on equity of 138.32%. The company had revenue of $34.69 million for the quarter, compared to analyst estimates of $34.00 million. On average, equities research analysts expect that Endologix will post -4.76 earnings per share for the current fiscal year.

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

Several hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its holdings in Endologix by 279.2% during the 4th 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 in the last quarter. Macquarie Group Ltd. acquired a new position in Endologix during the 4th quarter worth $46,000. Assenagon Asset Management S.A. acquired a new position in Endologix during the 4th quarter worth $55,000. Jane Street Group LLC grew its holdings in Endologix by 54.6% during the 4th quarter. Jane Street Group LLC now owns 93,572 shares of the medical instruments supplier’s stock worth $67,000 after acquiring an additional 33,044 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Endologix by 408.0% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 99,731 shares of the medical instruments supplier’s stock worth $71,000 after acquiring an additional 80,100 shares in 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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