Endologix, Inc. (NASDAQ:ELGX)’s share price dropped 13.9% on Monday . The company traded as low as $2.87 and last traded at $3.09, approximately 799,668 shares changed hands during trading. An increase of 248% from the average daily volume of 230,076 shares. The stock had previously closed at $3.59.
ELGX has been the subject of a number of analyst reports. Royal Bank of Canada set a $7.00 target price on Endologix and gave the stock a “hold” rating in a report on Friday, August 9th. ValuEngine upgraded Endologix from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Finally, Zacks Investment Research lowered Endologix from a “buy” rating to a “hold” rating in a report on Thursday, September 12th. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.88.
The business has a fifty day simple moving average of $3.85 and a two-hundred day simple moving average of $5.89. The company has a debt-to-equity ratio of 2.45, a current ratio of 2.53 and a quick ratio of 1.80. The company has a market cap of $59.71 million, a PE ratio of -0.43 and a beta of 0.34.
Endologix (NASDAQ:ELGX) last posted its earnings results on Thursday, August 8th. The medical instruments supplier reported ($0.37) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.43. Endologix had a negative return on equity of 120.57% and a negative net margin of 60.32%. The company had revenue of $36.24 million during the quarter, compared to analyst estimates of $36.09 million. On average, equities research analysts predict that Endologix, Inc. will post -2.73 EPS for the current year.
Several institutional investors and hedge funds have recently modified their holdings of the company. First Light Asset Management LLC purchased a new stake in shares of Endologix during the 2nd quarter valued at $17,828,000. Morgan Stanley raised its stake 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 acquiring an additional 674,103 shares during the last quarter. Vanguard Group Inc. raised its stake in Endologix by 32.6% in the 2nd quarter. Vanguard Group Inc. now owns 692,351 shares of the medical instruments supplier’s stock worth $5,012,000 after acquiring an additional 170,316 shares during the last quarter. Renaissance Technologies LLC raised its stake 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 acquiring an additional 550,506 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Endologix by 6.9% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 177,931 shares of the medical instruments supplier’s stock worth $1,288,000 after acquiring an additional 11,497 shares during the last quarter. Hedge funds and other institutional investors own 77.91% 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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