Endologix, Inc. (ELGX) Sees Large Growth in Short Interest

Endologix, Inc. (NASDAQ:ELGX) was the target of a significant growth in short interest in March. As of March 29th, there was short interest totalling 930,510 shares, a growth of 46.6% from the March 15th total of 634,651 shares. Based on an average daily volume of 163,583 shares, the days-to-cover ratio is presently 5.7 days. Currently, 9.5% of the company’s stock are sold short.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Deutsche Bank AG lifted its holdings in shares of Endologix by 121.3% during the fourth quarter. Deutsche Bank AG now owns 433,335 shares of the medical instruments supplier’s stock valued at $309,000 after acquiring an additional 237,555 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Endologix by 22.9% during the fourth quarter. Geode Capital Management LLC now owns 1,059,281 shares of the medical instruments supplier’s stock valued at $757,000 after acquiring an additional 197,351 shares during the period. Norges Bank bought a new position in shares of Endologix during the fourth quarter valued at $545,000. Macquarie Group Ltd. bought a new position in shares of Endologix during the fourth quarter valued at $46,000. Finally, Jane Street Group LLC lifted its holdings in shares of Endologix by 54.6% during the fourth quarter. Jane Street Group LLC now owns 93,572 shares of the medical instruments supplier’s stock valued at $67,000 after acquiring an additional 33,044 shares during the period.

Several equities analysts have commented on ELGX shares. Zacks Investment Research upgraded Endologix from a “hold” rating to a “buy” rating and set a $7.50 price target on the stock in a report on Monday, January 28th. ValuEngine upgraded shares of Endologix from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. BTIG Research restated a “buy” rating on shares of Endologix in a research note on Tuesday, February 26th. Finally, Stifel Nicolaus set a $7.00 price objective on shares of Endologix and gave the stock a “hold” rating in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $25.63.

ELGX traded up $0.18 during trading on Friday, reaching $6.50. 664,374 shares of the company’s stock were exchanged, compared to its average volume of 197,841. Endologix has a fifty-two week low of $5.20 and a fifty-two week high of $67.20. The company has a debt-to-equity ratio of 5.00, a current ratio of 2.03 and a quick ratio of 1.25. The company has a market capitalization of $67.26 million, a P/E ratio of -0.90 and a beta of 0.58.

Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported ($1.12) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($1.56) by $0.44. Endologix had a negative net margin of 54.72% and a negative return on equity of 150.74%. The firm had revenue of $35.61 million for the quarter, compared to the consensus estimate of $34.18 million. On average, equities research analysts expect that Endologix will post -3.97 EPS for the current fiscal year.

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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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