Endologix (ELGX) Releases FY 2018 Earnings Guidance

Endologix (NASDAQ:ELGX) issued an update on its FY 2018 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $-0.91–0.87 for the period, compared to the Thomson Reuters consensus estimate of $-0.79. The company issued revenue guidance of $150-155 million, compared to the consensus revenue estimate of $151.74 million.Endologix also updated its FY 2019 guidance to EPS.

NASDAQ:ELGX traded up $0.05 during mid-day trading on Friday, reaching $1.31. The company’s stock had a trading volume of 933,816 shares, compared to its average volume of 1,031,941. Endologix has a 1 year low of $1.09 and a 1 year high of $6.72. The company has a quick ratio of 1.20, a current ratio of 1.90 and a debt-to-equity ratio of 5.37.

Endologix (NASDAQ:ELGX) last released its quarterly earnings data on Thursday, November 1st. The medical instruments supplier reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.09. Endologix had a negative net margin of 40.92% and a negative return on equity of 69.06%. The company had revenue of $34.76 million during the quarter, compared to analyst estimates of $33.04 million. During the same period in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue for the quarter was down 24.4% compared to the same quarter last year. As a group, analysts expect that Endologix will post -0.86 EPS for the current fiscal year.

ELGX has been the subject of a number of research reports. BTIG Research lowered their price objective on shares of Endologix to $4.00 and set a buy rating for the company in a research note on Thursday, August 23rd. BidaskClub downgraded shares of Endologix from a strong-buy rating to a buy rating in a report on Wednesday, July 25th. Oppenheimer reiterated a hold rating on shares of Endologix in a report on Wednesday, October 3rd. BMO Capital Markets reiterated a hold rating and issued a $4.00 target price (down from $6.50) on shares of Endologix in a report on Friday, August 10th. Finally, ValuEngine upgraded shares of Endologix from a sell rating to a hold rating in a report on Thursday, August 2nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $3.71.

In other news, CFO Vaseem Mahboob bought 30,000 shares of Endologix stock in a transaction on Thursday, August 16th. The stock was acquired at an average cost of $2.43 per share, for a total transaction of $72,900.00. Following the completion of the acquisition, the chief financial officer now owns 146,812 shares of the company’s stock, valued at approximately $356,753.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.90% 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 and Estimates for Endologix (NASDAQ:ELGX)

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