Zacks Investment Research Downgrades Endologix (NASDAQ:ELGX) to Sell

Endologix (NASDAQ:ELGX) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “

Other research analysts have also issued reports about the company. Stephens lowered their price objective on Endologix from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Monday, March 23rd. BTIG Research lowered Endologix from a “buy” rating to a “neutral” rating in a research report on Monday, May 11th. Finally, ValuEngine cut Endologix from a “buy” rating to a “hold” rating in a research note on Tuesday, July 7th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Endologix presently has an average rating of “Hold” and a consensus target price of $3.40.

ELGX stock opened at $0.29 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 0.39 and a quick ratio of 0.28. The business has a 50 day simple moving average of $0.79 and a 200-day simple moving average of $1.02. The firm has a market capitalization of $4.22 million, a PE ratio of -0.09 and a beta of 0.73. Endologix has a 1 year low of $0.22 and a 1 year high of $7.10.

Endologix (NASDAQ:ELGX) last issued its quarterly earnings data on Monday, May 11th. The medical instruments supplier reported ($0.80) earnings per share for the quarter, missing the consensus estimate of ($0.67) by ($0.13). The business had revenue of $28.51 million during the quarter, compared to analysts’ expectations of $28.50 million. Endologix had a negative return on equity of 63.96% and a negative net margin of 44.65%. On average, equities research analysts expect that Endologix will post -2.9 EPS for the current year.

A number of large investors have recently added to or reduced their stakes in ELGX. Wedbush Securities Inc. acquired a new position in Endologix during the first quarter worth $26,000. King Wealth acquired a new position in Endologix during the first quarter worth $45,000. Invesco Ltd. lifted its stake in Endologix by 298.9% during the first quarter. Invesco Ltd. now owns 148,265 shares of the medical instruments supplier’s stock worth $102,000 after purchasing an additional 111,092 shares in the last quarter. NEA Management Company LLC acquired a new stake in shares of Endologix in the first quarter valued at $172,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Endologix by 102.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 246,936 shares of the medical instruments supplier’s stock valued at $390,000 after acquiring an additional 124,894 shares in the last quarter. Institutional investors own 51.61% of the company’s stock.

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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