Endologix (NASDAQ:ELGX) Shares Gap Down to $0.25

Shares of Endologix, Inc. (NASDAQ:ELGX) gapped down before the market opened on Tuesday . The stock had previously closed at $0.12, but opened at $0.25. Endologix shares last traded at $0.39, with a volume of 31,300,071 shares trading hands.

A number of equities research analysts recently weighed in on the company. BTIG Research cut Endologix from a “buy” rating to a “neutral” rating in a report on Monday, May 11th. ValuEngine cut Endologix from a “buy” rating to a “hold” rating in a report on Tuesday. Stephens dropped their price target on Endologix from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Monday, March 23rd. Finally, Zacks Investment Research lowered Endologix from a “buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Five equities research analysts have rated the stock with a hold rating, Endologix has an average rating of “Hold” and a consensus target price of $3.40.

The stock has a market capitalization of $14.76 million, a P/E ratio of -0.11 and a beta of 0.73. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.28 and a current ratio of 0.39. The stock has a 50-day simple moving average of $0.86 and a 200 day simple moving average of $1.09.

Endologix (NASDAQ:ELGX) last announced its quarterly earnings data on Monday, May 11th. The medical instruments supplier reported ($0.80) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.67) by ($0.13). The firm had revenue of $28.51 million during the quarter, compared to the consensus estimate of $28.50 million. Endologix had a negative net margin of 44.65% and a negative return on equity of 63.96%. Equities analysts predict that Endologix, Inc. will post -3.02 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. ArrowMark Colorado Holdings LLC raised its stake in Endologix by 2.9% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,366,321 shares of the medical instruments supplier’s stock worth $5,319,000 after buying an additional 94,327 shares during the period. Renaissance Technologies LLC raised its stake in shares of Endologix by 6.2% in the 4th quarter. Renaissance Technologies LLC now owns 755,668 shares of the medical instruments supplier’s stock valued at $1,194,000 after purchasing an additional 44,400 shares during the period. NEA Management Company LLC acquired a new stake in shares of Endologix in the 1st quarter valued at about $172,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Endologix by 102.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 246,936 shares of the medical instruments supplier’s stock valued at $390,000 after purchasing an additional 124,894 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Endologix by 298.9% in the 1st quarter. Invesco Ltd. now owns 148,265 shares of the medical instruments supplier’s stock valued at $102,000 after purchasing an additional 111,092 shares during the period. Hedge funds and other institutional investors own 51.84% of the company’s stock.

About Endologix (NASDAQ:ELGX)

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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