Zacks Investment Research Upgrades Endologix (NASDAQ:ELGX) to “Buy”

Endologix (NASDAQ:ELGX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, Zacks.com reports. The firm currently has a $7.50 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.00% from the stock’s current price.

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. “

A number of other research firms have also commented on ELGX. ValuEngine raised shares of Endologix from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Royal Bank of Canada set a $7.00 price target on shares of Endologix and gave the stock a “hold” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $20.25.



NASDAQ:ELGX traded down $0.39 during mid-day trading on Wednesday, reaching $6.41. 246,909 shares of the company’s stock were exchanged, compared to its average volume of 240,284. Endologix has a one year low of $5.20 and a one year high of $26.50. The stock has a market capitalization of $107.23 million, a price-to-earnings ratio of -0.89 and a beta of 0.37. The business’s fifty day moving average is $6.81. The company has a quick ratio of 0.90, a current ratio of 1.58 and a debt-to-equity ratio of 11.12.

Endologix (NASDAQ:ELGX) last released its quarterly earnings results on Thursday, August 8th. The medical instruments supplier reported ($0.37) EPS for the quarter, topping analysts’ consensus estimates of ($0.80) by $0.43. Endologix had a negative net margin of 60.32% and a negative return on equity of 154.23%. The business had revenue of $36.24 million for the quarter, compared to analyst estimates of $36.09 million. As a group, analysts expect that Endologix will post -3.23 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in ELGX. BlackRock Inc. boosted its stake in shares of Endologix by 8.9% in the 4th quarter. BlackRock Inc. now owns 6,208,597 shares of the medical instruments supplier’s stock valued at $4,446,000 after purchasing an additional 509,493 shares in the last quarter. First Light Asset Management LLC acquired a new stake in shares of Endologix in the 2nd quarter valued at approximately $17,828,000. Northern Trust Corp boosted its stake in shares of Endologix by 15.9% in the 4th quarter. Northern Trust Corp now owns 1,215,671 shares of the medical instruments supplier’s stock valued at $871,000 after purchasing an additional 166,409 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Endologix by 22.9% in the 4th quarter. Geode Capital Management LLC now owns 1,059,281 shares of the medical instruments supplier’s stock valued at $757,000 after purchasing an additional 197,351 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Endologix in the 4th quarter valued at approximately $545,000. Hedge funds and other institutional investors own 48.44% of the company’s stock.

Endologix Company Profile

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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