Endologix, Inc. (NASDAQ:ELGX) was the target of a significant drop in short interest in June. As of June 15th, there was short interest totalling 6,243,271 shares, a drop of 15.7% from the May 31st total of 7,409,544 shares. Approximately 8.2% of the shares of the stock are sold short. Based on an average trading volume of 639,950 shares, the short-interest ratio is currently 9.8 days.
A number of large investors have recently modified their holdings of the stock. Altrinsic Global Advisors LLC boosted its holdings in Endologix by 9.5% during the first quarter. Altrinsic Global Advisors LLC now owns 1,035,000 shares of the medical instruments supplier’s stock worth $4,378,000 after buying an additional 90,000 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Endologix by 8.7% during the first quarter. Schwab Charles Investment Management Inc. now owns 380,648 shares of the medical instruments supplier’s stock worth $1,611,000 after buying an additional 30,585 shares in the last quarter. Lake Street Advisors Group LLC bought a new stake in Endologix during the fourth quarter worth approximately $120,000. MetLife Investment Advisors LLC bought a new stake in Endologix during the fourth quarter worth approximately $236,000. Finally, Deutsche Bank AG boosted its holdings in Endologix by 111.7% during the fourth quarter. Deutsche Bank AG now owns 190,868 shares of the medical instruments supplier’s stock worth $1,019,000 after buying an additional 100,703 shares in the last quarter. Hedge funds and other institutional investors own 98.60% of the company’s stock.
Several research analysts have recently issued reports on ELGX shares. BidaskClub upgraded shares of Endologix from a “hold” rating to a “buy” rating in a report on Thursday, May 3rd. ValuEngine upgraded shares of Endologix from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research upgraded shares of Endologix from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Oppenheimer set a $5.00 price objective on shares of Endologix and gave the company a “hold” rating in a report on Thursday, May 3rd. Finally, Stifel Nicolaus increased their price objective on shares of Endologix from $4.50 to $5.00 and gave the company a “hold” rating in a report on Monday, May 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Endologix currently has an average rating of “Hold” and a consensus target price of $4.95.
Endologix stock opened at $5.85 on Wednesday. The company has a market capitalization of $492.30 million, a PE ratio of -11.81 and a beta of 0.44. Endologix has a 12-month low of $3.75 and a 12-month high of $6.72. The company has a quick ratio of 1.37, a current ratio of 2.13 and a debt-to-equity ratio of 3.58.
Endologix (NASDAQ:ELGX) last issued its earnings results on Wednesday, May 2nd. The medical instruments supplier reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.03. The firm had revenue of $42.28 million during the quarter, compared to analysts’ expectations of $41.14 million. Endologix had a negative net margin of 35.86% and a negative return on equity of 47.01%. The firm’s revenue for the quarter was down .8% compared to the same quarter last year. During the same period last year, the firm posted ($0.18) earnings per share. sell-side analysts anticipate that Endologix will post -0.7 EPS for the current fiscal year.
Endologix Company Profile
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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