Endologix (NASDAQ:ELGX) Shares Up 10.4%

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Shares of Endologix, Inc. (NASDAQ:ELGX) shot up 10.4% during trading on Wednesday . The stock traded as high as $2.55 and last traded at $2.54, 244,800 shares changed hands during trading. An increase of 10% from the average session volume of 222,728 shares. The stock had previously closed at $2.30.

A number of research analysts have weighed in on the stock. ValuEngine cut shares of Endologix from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Zacks Investment Research lowered shares of Endologix from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada set a $7.00 target price on Endologix and gave the company a “hold” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.17.

The company has a debt-to-equity ratio of 2.70, a current ratio of 2.22 and a quick ratio of 1.55. The firm has a fifty day simple moving average of $2.97 and a 200 day simple moving average of $5.22. The company has a market capitalization of $45.39 million, a price-to-earnings ratio of -0.33 and a beta of 0.25.

Endologix (NASDAQ:ELGX) last posted its quarterly earnings data on Wednesday, November 6th. The medical instruments supplier reported ($0.55) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.63) by $0.08. Endologix had a negative return on equity of 99.62% and a negative net margin of 58.24%. The business had revenue of $35.78 million during the quarter, compared to analysts’ expectations of $35.26 million. Research analysts predict that Endologix, Inc. will post -2.69 EPS for the current year.

Large investors have recently bought and sold shares of the business. First Light Asset Management LLC acquired a new stake in shares of Endologix in the second quarter valued at about $17,828,000. Morgan Stanley boosted its holdings in Endologix by 1,395.2% in the 2nd quarter. Morgan Stanley now owns 722,419 shares of the medical instruments supplier’s stock worth $5,230,000 after buying an additional 674,103 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Endologix by 868.3% in the 2nd quarter. Renaissance Technologies LLC now owns 613,906 shares of the medical instruments supplier’s stock worth $4,445,000 after buying an additional 550,506 shares during the last quarter. Vanguard Group Inc. increased its stake in Endologix by 32.6% during the 2nd quarter. Vanguard Group Inc. now owns 692,351 shares of the medical instruments supplier’s stock worth $5,012,000 after buying an additional 170,316 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in Endologix during the 2nd quarter worth approximately $796,000. Institutional investors own 75.64% of the company’s stock.

Endologix Company Profile (NASDAQ:ELGX)

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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