Endologix, Inc. Forecasted to Post FY2019 Earnings of ($2.57) Per Share (NASDAQ:ELGX)

Endologix, Inc. (NASDAQ:ELGX) – Research analysts at Piper Jaffray Companies increased their FY2019 earnings per share estimates for shares of Endologix in a report issued on Wednesday, November 6th, according to Zacks Investment Research. Piper Jaffray Companies analyst M. O’brien now forecasts that the medical instruments supplier will earn ($2.57) per share for the year, up from their prior forecast of ($2.69). Piper Jaffray Companies also issued estimates for Endologix’s Q4 2019 earnings at ($0.70) EPS, Q1 2020 earnings at ($0.47) EPS, Q2 2020 earnings at ($0.38) EPS, Q3 2020 earnings at ($0.42) EPS, Q4 2020 earnings at ($0.62) EPS, FY2020 earnings at ($1.89) EPS and FY2021 earnings at ($0.95) EPS.

A number of other equities analysts have also weighed in on the company. Zacks Investment Research lowered Endologix from a “hold” rating to a “sell” rating in a research note on Friday, November 8th. Royal Bank of Canada set a $7.00 target price on Endologix and gave the stock a “hold” rating in a research note on Friday, August 9th. Finally, ValuEngine lowered Endologix from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Endologix presently has an average rating of “Hold” and a consensus price target of $7.17.

NASDAQ ELGX traded up $0.25 during trading on Monday, reaching $2.55. The company’s stock had a trading volume of 244,800 shares, compared to its average volume of 222,728. The stock has a market capitalization of $46.65 million, a PE ratio of -0.35 and a beta of 0.25. The company has a debt-to-equity ratio of 2.70, a current ratio of 2.22 and a quick ratio of 1.55. The firm has a fifty day moving average of $3.03 and a 200 day moving average of $5.29. Endologix has a one year low of $2.28 and a one year high of $8.95.

Endologix (NASDAQ:ELGX) last announced its earnings results on Wednesday, November 6th. The medical instruments supplier reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.08. The business had revenue of $35.78 million for the quarter, compared to analyst estimates of $35.26 million. Endologix had a negative return on equity of 99.62% and a negative net margin of 58.24%.

Several institutional investors and hedge funds have recently bought and sold shares of the company. First Light Asset Management LLC purchased a new position in shares of Endologix in the 2nd quarter worth about $17,828,000. Morgan Stanley boosted its holdings in Endologix by 1,395.2% during the 2nd quarter. Morgan Stanley now owns 722,419 shares of the medical instruments supplier’s stock valued at $5,230,000 after acquiring an additional 674,103 shares during the period. Vanguard Group Inc. boosted its holdings in Endologix by 32.6% during the 2nd quarter. Vanguard Group Inc. now owns 692,351 shares of the medical instruments supplier’s stock valued at $5,012,000 after acquiring an additional 170,316 shares during the period. Renaissance Technologies LLC boosted its holdings in Endologix by 868.3% during the 2nd quarter. Renaissance Technologies LLC now owns 613,906 shares of the medical instruments supplier’s stock valued at $4,445,000 after acquiring an additional 550,506 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in Endologix by 6.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 177,931 shares of the medical instruments supplier’s stock valued at $1,288,000 after acquiring an additional 11,497 shares during the period. Hedge funds and other institutional investors own 75.64% 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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Earnings History and Estimates for Endologix (NASDAQ:ELGX)

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