ValuEngine Upgrades Endologix (ELGX) to Sell

Endologix (NASDAQ:ELGX) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research report issued on Wednesday.

Several other equities analysts also recently weighed in on ELGX. Oppenheimer set a $5.00 price target on shares of Endologix and gave the stock a “hold” rating in a report on Thursday, February 22nd. BidaskClub downgraded shares of Endologix from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Zacks Investment Research downgraded shares of Endologix from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Finally, JPMorgan Chase downgraded shares of Endologix from a “neutral” rating to an “underweight” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $5.41.

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NASDAQ:ELGX remained flat at $$4.34 during midday trading on Wednesday. 715,740 shares of the company traded hands, compared to its average volume of 627,483. Endologix has a one year low of $3.75 and a one year high of $7.65. The company has a current ratio of 2.36, a quick ratio of 1.62 and a debt-to-equity ratio of 2.77. The firm has a market cap of $366.17, a P/E ratio of -9.04 and a beta of 0.32.

Endologix (NASDAQ:ELGX) last issued its quarterly earnings results on Wednesday, May 2nd. The medical instruments supplier reported ($0.15) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.03. Endologix had a negative net margin of 35.86% and a negative return on equity of 43.33%. The company had revenue of $42.28 million for the quarter, compared to the consensus estimate of $41.14 million. During the same quarter in the prior year, the company earned ($0.18) EPS. Endologix’s quarterly revenue was down .8% on a year-over-year basis. research analysts anticipate that Endologix will post -0.73 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in ELGX. Senzar Asset Management LLC boosted its position in Endologix by 143.6% in the 4th quarter. Senzar Asset Management LLC now owns 2,196,225 shares of the medical instruments supplier’s stock worth $11,750,000 after purchasing an additional 1,294,684 shares in the last quarter. ArrowMark Colorado Holdings LLC boosted its position in Endologix by 11.8% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 9,890,106 shares of the medical instruments supplier’s stock worth $52,912,000 after purchasing an additional 1,043,986 shares in the last quarter. Prosight Management LP purchased a new stake in Endologix in the 4th quarter worth approximately $3,509,000. Millrace Asset Group Inc. purchased a new stake in Endologix in the 4th quarter worth approximately $669,000. Finally, Deutsche Bank AG boosted its position in Endologix by 111.7% in the 4th quarter. Deutsche Bank AG now owns 190,868 shares of the medical instruments supplier’s stock worth $1,019,000 after purchasing an additional 100,703 shares in the last quarter.

About Endologix

Endologix, Inc develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. It offers minimally-invasive endovascular repair (EVAR) products, 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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Analyst Recommendations for Endologix (NASDAQ:ELGX)