Endologix (ELGX) Trading Down 1.5%

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Endologix, Inc. (NASDAQ:ELGX) fell 1.5% on Thursday . The stock traded as low as $0.68 and last traded at $0.67. 19,264 shares were traded during mid-day trading, a decline of 98% from the average session volume of 1,032,123 shares. The stock had previously closed at $0.68.

Several research firms have recently weighed in on ELGX. Oppenheimer reaffirmed a “hold” rating on shares of Endologix in a report on Wednesday, October 3rd. Piper Jaffray Companies lowered shares of Endologix from an “overweight” rating to a “neutral” rating in a report on Friday, August 10th. BMO Capital Markets reaffirmed a “hold” rating and issued a $4.00 target price (down previously from $6.50) on shares of Endologix in a report on Friday, August 10th. BTIG Research reaffirmed a “buy” rating on shares of Endologix in a report on Sunday, November 4th. Finally, Zacks Investment Research raised shares of Endologix from a “sell” rating to a “hold” rating and set a $1.50 target price on the stock in a report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Endologix presently has a consensus rating of “Hold” and an average price target of $3.08.

The company has a debt-to-equity ratio of 4.38, a quick ratio of 0.96 and a current ratio of 1.55.

Endologix (NASDAQ:ELGX) last issued its quarterly earnings data on Thursday, November 1st. The medical instruments supplier reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.09. Endologix had a negative net margin of 41.19% and a negative return on equity of 89.31%. The firm had revenue of $34.76 million for the quarter, compared to analyst estimates of $33.04 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The company’s revenue was down 24.4% on a year-over-year basis. On average, equities research analysts predict that Endologix, Inc. will post -0.68 earnings per share for the current year.

A number of large investors have recently modified their holdings of ELGX. Panagora Asset Management Inc. bought a new stake in Endologix during the 3rd quarter worth about $1,223,000. BlackRock Inc. grew its holdings in Endologix by 11.1% during the 2nd quarter. BlackRock Inc. now owns 5,644,438 shares of the medical instruments supplier’s stock worth $31,948,000 after acquiring an additional 565,175 shares during the last quarter. Dimensional Fund Advisors LP bought a new stake in Endologix during the 3rd quarter worth about $340,000. Marshall Wace LLP bought a new stake in Endologix during the 3rd quarter worth about $238,000. Finally, Paloma Partners Management Co bought a new stake in Endologix during the 3rd quarter worth about $184,000. 73.96% of the stock is currently owned by hedge funds and other institutional investors.

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About Endologix (NASDAQ:ELGX)

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. It offers minimally-invasive endovascular repair (EVAR) products, 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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