Endologix (ELGX) Posts Earnings Results, Beats Estimates By $0.09 EPS

Endologix (NASDAQ:ELGX) posted its quarterly earnings results on Thursday. The medical instruments supplier reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.09, Morningstar.com reports. Endologix had a negative return on equity of 69.06% and a negative net margin of 40.92%. The firm had revenue of $34.76 million during the quarter, compared to analyst estimates of $33.04 million. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was down 24.4% on a year-over-year basis.

Shares of ELGX stock traded up $0.05 on Friday, reaching $1.31. The company’s stock had a trading volume of 898,756 shares, compared to its average volume of 695,421. The company has a debt-to-equity ratio of 5.37, a quick ratio of 1.20 and a current ratio of 1.90. Endologix has a 12-month low of $1.09 and a 12-month high of $6.72. The company has a market capitalization of $103.34 million and a PE ratio of -2.73.

A number of research firms have recently commented on ELGX. Oppenheimer set a $3.00 price target on Endologix and gave the stock a “hold” rating in a report on Friday. BidaskClub downgraded Endologix from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research downgraded Endologix from a “hold” rating to a “sell” rating in a research report on Tuesday, October 9th. Piper Jaffray Companies downgraded Endologix from an “overweight” rating to a “neutral” rating in a research report on Friday, August 10th. Finally, Stifel Nicolaus set a $3.00 price objective on Endologix and gave the stock a “hold” rating in a research report on Saturday, August 11th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Endologix has an average rating of “Hold” and a consensus price target of $3.71.

In other Endologix news, CFO Vaseem Mahboob acquired 30,000 shares of the stock in a transaction that occurred on Thursday, August 16th. The shares were bought at an average price of $2.43 per share, for a total transaction of $72,900.00. Following the completion of the transaction, the chief financial officer now owns 146,812 shares of the company’s stock, valued at approximately $356,753.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.90% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Engineers Gate Manager LP raised its position in Endologix by 66.5% during the third quarter. Engineers Gate Manager LP now owns 129,959 shares of the medical instruments supplier’s stock valued at $248,000 after purchasing an additional 51,886 shares in the last quarter. MetLife Investment Advisors LLC raised its position in Endologix by 128.2% during the second quarter. MetLife Investment Advisors LLC now owns 41,313 shares of the medical instruments supplier’s stock valued at $234,000 after purchasing an additional 23,210 shares in the last quarter. BlackRock Inc. raised its position in Endologix by 11.1% during the second quarter. BlackRock Inc. now owns 5,644,438 shares of the medical instruments supplier’s stock valued at $31,948,000 after purchasing an additional 565,175 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Endologix by 13.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 429,969 shares of the medical instruments supplier’s stock valued at $2,434,000 after purchasing an additional 49,321 shares in the last quarter. Finally, C WorldWide Group Holding A S raised its position in Endologix by 22.3% during the second quarter. C WorldWide Group Holding A S now owns 364,464 shares of the medical instruments supplier’s stock valued at $2,063,000 after purchasing an additional 66,486 shares in the last quarter. Institutional investors and hedge funds own 94.01% 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. 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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Earnings History for Endologix (NASDAQ:ELGX)

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