Published On: Mon, Sep 19th, 2016

Leerink Swann Analysts Reduce Earnings Estimates for Endologix Inc. (ELGX)

Endologix Inc. (NASDAQ:ELGX) – Research analysts at Leerink Swann cut their FY2020 earnings estimates for Endologix in a research report issued to clients and investors on Thursday. Leerink Swann analyst R. Misra now anticipates that the firm will earn $0.16 per share for the year, down from their previous estimate of $0.18. Leerink Swann currently has a “Hold” rating and a $13.00 target price on the stock.
Endologix (NASDAQ:ELGX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.20) by $0.07. The business had revenue of $51 million for the quarter, compared to analyst estimates of $46.30 million. Endologix had a negative return on equity of 41.88% and a negative net margin of 82.39%. The company’s quarterly revenue was up 29.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.18) earnings per share.
A number of other research firms have also weighed in on ELGX. Piper Jaffray Cos. reissued an “overweight” rating and issued a $15.00 target price on shares of Endologix in a research note on Monday, June 13th. Royal Bank Of Canada boosted their target price on Endologix from $15.00 to $17.00 and gave the company an “outperform” rating in a research note on Monday, June 13th. BMO Capital Markets raised Endologix from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $11.50 to $16.00 in a research note on Thursday, July 7th. Oppenheimer Holdings Inc. set a $15.00 target price on Endologix and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Finally, BTIG Research reissued a “buy” rating on shares of Endologix in a research note on Sunday, May 29th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $13.79.

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Endologix (NASDAQ:ELGX) opened at 12.88 on Monday. The company’s market cap is $1.06 billion. The firm has a 50-day moving average price of $12.39 and a 200 day moving average price of $11.51. Endologix has a one year low of $6.51 and a one year high of $14.50.
In other Endologix news, insider Michael V. Chobotov sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $12.40, for a total transaction of $173,600.00. Following the transaction, the insider now owns 189,269 shares in the company, valued at approximately $2,346,935.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jose A. Lima sold 4,710 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $11.68, for a total value of $55,012.80. Following the transaction, the vice president now owns 42,594 shares in the company, valued at approximately $497,497.92. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ELGX. Janus Capital Management LLC increased its position in Endologix by 2.7% in the second quarter. Janus Capital Management LLC now owns 7,345,861 shares of the company’s stock worth $91,529,000 after buying an additional 192,182 shares during the period. Vanguard Group Inc. increased its position in Endologix by 3.5% in the second quarter. Vanguard Group Inc. now owns 5,575,344 shares of the company’s stock worth $69,468,000 after buying an additional 187,246 shares during the period. Brown Capital Management LLC purchased a new position in Endologix during the second quarter worth $60,477,000. Redmile Group LLC increased its position in Endologix by 60.5% in the second quarter. Redmile Group LLC now owns 3,962,753 shares of the company’s stock worth $49,376,000 after buying an additional 1,493,906 shares during the period. Finally, TimesSquare Capital Management LLC increased its position in Endologix by 18.5% in the second quarter. TimesSquare Capital Management LLC now owns 3,136,135 shares of the company’s stock worth $39,076,000 after buying an additional 489,000 shares during the period.
About Endologix
Endologix, Inc is engaged in developing, manufacturing, marketing and selling medical devices for the treatment of aortic disorders. The Company’s products are intended for the treatment of abdominal aortic aneurysms (AAA). The AAA products are built on one of two platforms, including traditional minimally invasive endovascular repair (EVAR) or endovascular sealing (EVAS), its solution for sealing the aneurysm sac while maintaining blood flow through two blood flow lumens.

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