Zacks Investment Research Lowers Endologix (NASDAQ:ELGX) to Hold

Zacks Investment Research downgraded shares of Endologix (NASDAQ:ELGX) from a buy rating to a hold rating in a report published on Tuesday, Zacks.com reports.

According to Zacks, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis. “

ELGX has been the topic of a number of other reports. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research note on Wednesday, May 1st. Stifel Nicolaus set a $7.00 price target on shares of Endologix and gave the stock a hold rating in a report on Monday, April 1st. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Endologix has an average rating of Hold and an average target price of $25.75.



ELGX stock traded down $0.02 during midday trading on Tuesday, hitting $6.77. The stock had a trading volume of 300 shares, compared to its average volume of 357,543. The firm has a market cap of $117.64 million, a price-to-earnings ratio of -0.94 and a beta of 0.38. The company has a current ratio of 1.58, a quick ratio of 0.90 and a debt-to-equity ratio of 11.12. Endologix has a 1-year low of $5.20 and a 1-year high of $54.00. The company’s fifty day moving average price is $7.27.

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, beating the consensus estimate of ($1.56) by $0.44. Endologix had a negative net margin of 54.72% and a negative return on equity of 173.52%. The firm had revenue of $35.61 million during the quarter, compared to the consensus estimate of $34.18 million. Analysts predict that Endologix will post -3.65 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers grew its holdings in shares of Endologix by 40.2% during the 4th quarter. Rhumbline Advisers now owns 106,979 shares of the medical instruments supplier’s stock valued at $77,000 after purchasing an additional 30,701 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Endologix by 54.6% during the 4th quarter. Jane Street Group LLC now owns 93,572 shares of the medical instruments supplier’s stock valued at $67,000 after purchasing an additional 33,044 shares during the last quarter. Citigroup Inc. grew its holdings in shares of 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 during the last quarter. Macquarie Group Ltd. bought a new position in shares of Endologix during the 4th quarter valued at $46,000. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in shares of 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 valued at $71,000 after purchasing an additional 80,100 shares during the last quarter. 47.07% of the stock is currently owned by institutional investors.

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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