Endologix (NASDAQ:ELGX) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Endologix (NASDAQ:ELGX) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Zacks.com reports.

According to Zacks, “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. “

Other equities analysts have also recently issued reports about the company. ValuEngine cut Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st. Stifel Nicolaus set a $7.00 price target on Endologix and gave the stock a hold rating in a report on Monday, April 1st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $25.75.

Shares of ELGX stock opened at $6.68 on Tuesday. The firm has a 50 day moving average of $7.26. Endologix has a one year low of $5.20 and a one year high of $53.70. The company has a market capitalization of $115.90 million, a PE ratio of -0.93 and a beta of 0.38. The company has a debt-to-equity ratio of 11.12, a current ratio of 1.58 and a quick ratio of 0.90.

Endologix (NASDAQ:ELGX) last posted its quarterly earnings results on Thursday, May 2nd. The medical instruments supplier reported ($1.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.56) by $0.44. The firm had revenue of $35.61 million for the quarter, compared to analysts’ expectations of $34.18 million. Endologix had a negative return on equity of 173.52% and a negative net margin of 54.72%. Sell-side analysts predict that Endologix will post -3.65 earnings per share for the current year.

Institutional investors have recently bought and sold shares of the business. Citigroup Inc. boosted its holdings in shares of Endologix by 279.2% during the 4th quarter. Citigroup Inc. now owns 51,448 shares of the medical instruments supplier’s stock worth $37,000 after buying an additional 37,882 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Endologix in the 4th quarter worth $46,000. Jane Street Group LLC lifted its holdings in shares of Endologix by 54.6% in the 4th quarter. Jane Street Group LLC now owns 93,572 shares of the medical instruments supplier’s stock worth $67,000 after purchasing an additional 33,044 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Endologix by 408.0% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 99,731 shares of the medical instruments supplier’s stock worth $71,000 after purchasing an additional 80,100 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Endologix by 40.2% in the 4th quarter. Rhumbline Advisers now owns 106,979 shares of the medical instruments supplier’s stock worth $77,000 after purchasing an additional 30,701 shares in the last quarter. Hedge funds and other institutional investors own 47.07% 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. The company offers minimally-invasive endovascular aneurysm repair (EVAR), 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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