The stock of Endologix, Inc. (NASDAQ:ELGX) hit a new 52-week low and has $7.02 target or 6.00% below today’s $7.47 share price. The 9 months bearish chart indicates high risk for the $614.58M company. The 1-year low was reported on Nov, 16 by Barchart.com. If the $7.02 price target is reached, the company will be worth $36.87 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 4.02M shares traded hands or 224.19% up from the average. Endologix, Inc. (NASDAQ:ELGX) has declined 0.51% since April 14, 2016 and is downtrending. It has underperformed by 5.19% the S&P500.
Endologix, Inc. (NASDAQ:ELGX) Ratings Coverage
Out of 10 analysts covering Endologix Inc. (NASDAQ:ELGX), 8 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 80% are positive. Endologix Inc. has been the topic of 23 analyst reports since August 4, 2015 according to StockzIntelligence Inc. As per Friday, August 7, the company rating was upgraded by Oppenheimer. On Monday, June 13 the stock rating was upgraded by Canaccord Genuity to “Buy”. The firm earned “Overweight” rating on Monday, April 4 by JP Morgan. The firm earned “Buy” rating on Tuesday, February 2 by Stifel Nicolaus. The firm has “Outperform” rating given on Tuesday, May 10 by RBC Capital Markets. RBC Capital Markets initiated Endologix, Inc. (NASDAQ:ELGX) on Monday, October 19 with “Outperform” rating. As per Thursday, August 6, the company rating was upgraded by JP Morgan. Canaccord Genuity initiated the stock with “Hold” rating in Tuesday, October 27 report. RBC Capital Markets maintained Endologix, Inc. (NASDAQ:ELGX) rating on Monday, June 13. RBC Capital Markets has “Outperform” rating and $17 price target. The firm has “Overweight” rating by Piper Jaffray given on Tuesday, November 3.
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 increased to 1.96 in 2016 Q2. Its up 0.27, from 1.69 in 2016Q1. The ratio improved, 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.
Great West Life Assurance Can holds 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX) for 6,683 shares. Senzar Asset Management Ltd Com has 809,800 shares for 0% of their US portfolio. Morgan Stanley accumulated 0% or 112,801 shares. California State Teachers Retirement Sys has invested 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX). Vanguard Gp Inc holds 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX) for 5.58M shares. Highland Mgmt Limited Partnership accumulated 184,600 shares or 0.1% of the stock. New York State Common Retirement Fund has 831,508 shares for 0.02% of their US portfolio. Blackrock Institutional Na reported 1.89M shares or 0% of all its holdings. Pier Capital accumulated 0.51% or 226,427 shares. Plante Moran Advsr Ltd Llc owns 1,661 shares or 0.02% of their US portfolio. State Street owns 1.33M shares or 0% of their US portfolio. Metropolitan Life Ny owns 63,043 shares or 0.01% of their US portfolio. Citigroup holds 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX) for 6,693 shares. Gam Holdg Ag holds 0.08% or 419,400 shares in its portfolio. Springbok Capital Mngmt Lc owns 15,955 shares or 0.03% of their US portfolio.
Insider Transactions: Since May 26, 2016, the stock had 0 insider buys, and 10 insider sales for $519,081 net activity. The insider DePalma Amanda L. sold 689 shares worth $8,647. Lima Jose A. had sold 957 shares worth $12,010 on Wednesday, June 1. 6,500 shares were sold by Machek James Edward, worth $82,940. On Wednesday, June 1 McDermott John D sold $76,756 worth of the stock or 6,116 shares. Chobotov Michael V. sold $173,600 worth of stock. Shares for $28,790 were sold by Mitchell Robert D on Wednesday, June 1. $12,010 worth of Endologix, Inc. (NASDAQ:ELGX) was sold by DeJohn Joseph A. on Wednesday, June 1.
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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