Worth Watching: Is Endologix, Inc. a Buy? The Stock Rises Again

Worth Watching: Is Endologix, Inc. a Buy? The Stock Rises Again

The stock of Endologix, Inc. (NASDAQ:ELGX) is a huge mover today! The stock increased 4.25% or $0.32 on November 23, hitting $7.85. About 957,222 shares traded hands. Endologix, Inc. (NASDAQ:ELGX) has declined 31.08% since April 22, 2016 and is downtrending. It has underperformed by 36.49% the S&P500.
The move comes after 5 months positive chart setup for the $645.69 million company. It was reported on Nov, 24 by Barchart.com. We have $8.24 PT which if reached, will make NASDAQ:ELGX worth $32.28 million more.

Analysts await Endologix, Inc. (NASDAQ:ELGX) to report earnings on February, 27. They expect $-0.16 earnings per share, down 100.00% or $0.08 from last year’s $-0.08 per share. After $-0.11 actual earnings per share reported by Endologix, Inc. for the previous quarter, Wall Street now forecasts 45.45% negative EPS growth.

Endologix, Inc. (NASDAQ:ELGX) Ratings Coverage

Out of 10 analysts covering Endologix Inc. (NASDAQ:ELGX), 6 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 60% are positive. Endologix Inc. has been the topic of 25 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Stifel Nicolaus maintained the shares of ELGX in a report on Tuesday, February 2 with “Buy” rating. The stock of Endologix, Inc. (NASDAQ:ELGX) earned “Mkt Perform” rating by Leerink Swann on Tuesday, September 6. The stock has “Overweight” rating given by JP Morgan on Monday, April 4. BTIG Research upgraded the shares of ELGX in a report on Monday, September 28 to “Buy” rating. Piper Jaffray maintained the stock with “Overweight” rating in Tuesday, November 3 report. As per Thursday, November 17, the company rating was downgraded by Canaccord Genuity. BMO Capital Markets downgraded the shares of ELGX in a report on Tuesday, October 27 to “Market Perform” rating. Oppenheimer upgraded the shares of ELGX in a report on Friday, August 7 to “Outperform” rating. The stock of Endologix, Inc. (NASDAQ:ELGX) earned “Outperform” rating by RBC Capital Markets on Monday, October 19. The rating was upgraded by JP Morgan to “Overweight” on Thursday, August 6.

According to Zacks Investment Research, “Endologix, Inc. develops, manufactures and markets products for the treatment of coronary and vascular diseases. A leader in the emerging field of vascular brachytherapy, Endologix, has developed a unique method for the delivery of radiation to prevent restenosis following the interventional treatment of atherosclerosis.”

Insitutional Activity: The institutional sentiment decreased to 1.18 in 2016 Q2. Its down 0.78, from 1.96 in 2016Q1. The ratio turned negative, as 19 funds sold all Endologix, Inc. shares owned while 29 reduced positions. 41 funds bought stakes while 53 increased positions. They now own 88.15 million shares or 13.23% more from 77.85 million shares in 2016Q1.
Capstone Investment Ltd Llc has 12,600 shares for 0% of their US portfolio. Principal Fincl Grp reported 10,841 shares or 0% of all its holdings. Broadfin Cap Limited Liability Com, a New York-based fund reported 1.00M shares. Tcw Grp Inc Inc holds 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX) for 29,434 shares. The California-based Redmile Gru Ltd Liability Corp has invested 4.72% in Endologix, Inc. (NASDAQ:ELGX). Price T Rowe Md holds 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX) for 50,300 shares. Adage Cap Prns Grp Limited Liability Company has 0.01% invested in the company for 150,000 shares. Mackenzie Fincl Corporation owns 1.80M shares or 0.13% of their US portfolio. Sei Co has invested 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX). Rhenman & Prtnrs Asset Management Ab owns 435,000 shares or 0.96% of their US portfolio. Quantbot Technologies L P last reported 18,153 shares in the company. Ghost Tree Cap Ltd Limited Liability Company accumulated 1.44% or 400,000 shares. Mpm Asset Mgmt Ltd last reported 4.53% of its portfolio in the stock. Morgan Stanley has 0% invested in the company for 112,801 shares. State Street Corporation has 1.33 million shares for 0% of their US portfolio.

Insider Transactions: Since May 26, 2016, the stock had 2 buys, and 9 insider sales for $312,501 net activity. NEELS GUIDO J also bought $99,970 worth of Endologix, Inc. (NASDAQ:ELGX) shares. $12,010 worth of shares were sold by Machek James Edward on Wednesday, June 1. On Wednesday, June 1 the insider Mitchell Robert D sold $28,790. Shares for $173,600 were sold by Chobotov Michael V.. McDermott John D sold $76,756 worth of stock. Lima Jose A. sold $12,010 worth of stock. 689 shares were sold by DePalma Amanda L., worth $8,647 on Wednesday, June 1.

More news for Endologix, Inc. (NASDAQ:ELGX) were recently published by: Fool.com, which released: “Why Endologix, Inc. Is Crashing 21.3% Today” on November 16, 2016. Prnewswire.com‘s article titled: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” and published on November 17, 2016 is yet another important article.

ELGX Company Profile

Endologix, Inc., incorporated on June 2, 1993, 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. The EVAR products include the Endologix AFX Endovascular AAA System (AFX), the VELA Proximal Endograft (VELA) and the Endologix Powerlink with Intuitrak Delivery System (Intuitrak). The EVAS product is the Nellix EndoVascular Aneurysm Sealing System (Nellix EVAS System). The Company’s EVAS product is the Nellix EndoVascular Aneurysm Sealing System (Nellix EVAS System). Sales of the Company’s EVAR and EVAS platforms (including extensions and accessories) to hospitals in the United States and Europe, and to third-party international distributors provide the sole source of its revenue. It offers various accessories to facilitate the optimal delivery of its EVAR products, including compatible guidewires, snares, and catheter introducer sheaths.

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