Endologix, Inc. (NASDAQ:ELGX) Short Interest Update

Endologix, Inc. (NASDAQ:ELGX) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 695,400 shares, a decrease of 42.5% from the November 14th total of 1,210,000 shares. Currently, 4.5% of the company’s shares are short sold. Based on an average trading volume of 164,100 shares, the short-interest ratio is presently 4.2 days.

ELGX has been the subject of several recent analyst reports. Zacks Investment Research cut Endologix from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. ValuEngine lowered Endologix from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $7.17.

NASDAQ ELGX traded down $0.10 during trading hours on Wednesday, reaching $2.06. The company had a trading volume of 146,700 shares, compared to its average volume of 220,784. The stock has a 50-day moving average of $2.82 and a 200 day moving average of $5.11. Endologix has a 1-year low of $2.04 and a 1-year high of $8.95. The company has a current ratio of 2.22, a quick ratio of 1.55 and a debt-to-equity ratio of 2.70. The stock has a market capitalization of $40.19 million, a P/E ratio of -0.29 and a beta of 0.25.

Endologix (NASDAQ:ELGX) last released its quarterly earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.55) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.08. Endologix had a negative net margin of 58.24% and a negative return on equity of 99.62%. The business had revenue of $35.78 million for the quarter, compared to the consensus estimate of $35.26 million. As a group, sell-side analysts predict that Endologix will post -2.84 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its position in Endologix by 859.5% in the second quarter. JPMorgan Chase & Co. now owns 114,768 shares of the medical instruments supplier’s stock valued at $838,000 after purchasing an additional 102,807 shares during the period. M&T Bank Corp acquired a new stake in shares of Endologix in the second quarter valued at $102,000. Vanguard Group Inc. grew its stake in shares of Endologix by 32.6% in the second quarter. Vanguard Group Inc. now owns 692,351 shares of the medical instruments supplier’s stock valued at $5,012,000 after buying an additional 170,316 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of Endologix by 868.3% in the 2nd quarter. Renaissance Technologies LLC now owns 613,906 shares of the medical instruments supplier’s stock valued at $4,445,000 after buying an additional 550,506 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Endologix by 1,395.2% in the 2nd quarter. Morgan Stanley now owns 722,419 shares of the medical instruments supplier’s stock valued at $5,230,000 after buying an additional 674,103 shares during the period. Hedge funds and other institutional investors own 75.64% 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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