Today’s Price Action: How Analysts Feel About Endologix, Inc. After Today’s Huge Decline?

Today's Price Action: How Analysts Feel About Endologix, Inc. After Today's Huge Decline?

The stock of Endologix, Inc. (NASDAQ:ELGX) is a huge mover today! About 9.93M shares traded hands or 700.81% 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.
The move comes after 5 months negative chart setup for the $630.70M company. It was reported on Nov, 16 by Barchart.com. We have $6.98 PT which if reached, will make NASDAQ:ELGX worth $56.76M less.

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. The firm earned “Overweight” rating on Monday, April 4 by JP Morgan. The company was upgraded on Friday, August 7 by Oppenheimer. The company was initiated on Tuesday, September 6 by Leerink Swann. BTIG Research upgraded the stock to “Buy” rating in Monday, September 28 report. The stock has “Outperform” rating given by RBC Capital Markets on Monday, October 19. Piper Jaffray maintained the shares of ELGX in a report on Tuesday, November 3 with “Overweight” rating. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, May 10 report. The firm has “Buy” rating by Stifel Nicolaus given on Tuesday, February 2. On Tuesday, October 27 the stock rating was initiated by Canaccord Genuity with “Hold”. BMO Capital Markets downgraded the shares of ELGX in a report on Tuesday, October 27 to “Market Perform” rating.

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 is positive, 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.
Elk Creek Partners Ltd Liability Corporation accumulated 1.17% or 1.48M shares. Mackenzie Fincl Corp, a Ontario – Canada-based fund reported 1.80 million shares. Moreover, Rathbone Brothers Plc has 0.01% invested in Endologix, Inc. (NASDAQ:ELGX) for 21,650 shares. Moreover, Essex Woodlands Healthcare Ventures has 5.59% invested in Endologix, Inc. (NASDAQ:ELGX) for 1.26 million shares. Old Natl Fincl Bank In owns 10,365 shares or 0.01% of their US portfolio. Polar Capital Llp reported 847,669 shares or 0.2% of all its holdings. The Illinois-based Columbia Wanger Asset Mngmt Ltd Liability has invested 0.17% in Endologix, Inc. (NASDAQ:ELGX). Nuveen Asset Mngmt Lc last reported 0.01% of its portfolio in the stock. Palisade Lc Nj owns 1.72M shares or 0.78% of their US portfolio. Ameritas Inc, a Nebraska-based fund reported 3,000 shares. The Georgia-based Signaturefd Lc has invested 0% in Endologix, Inc. (NASDAQ:ELGX). Moreover, Metropolitan Life Insurance New York has 0.01% invested in Endologix, Inc. (NASDAQ:ELGX) for 63,043 shares. Geode Cap Mgmt Lc owns 505,393 shares or 0% of their US portfolio. Partner Invest Mgmt L P accumulated 31,800 shares or 0.65% of the stock. Capstone Invest Advisors Ltd Liability Corp owns 12,600 shares or 0% of their US portfolio.

Insider Transactions: Since May 26, 2016, the stock had 0 buys, and 10 insider sales for $519,081 net activity. 2,294 shares were sold by Mitchell Robert D, worth $28,790 on Wednesday, June 1. Machek James Edward sold 6,500 shares worth $82,940. Chobotov Michael V. sold 14,000 shares worth $173,600. WALLER GREGORY D sold $100,308 worth of stock or 7,800 shares. Another trade for 6,116 shares valued at $76,756 was sold by McDermott John D. $12,010 worth of shares were sold by DeJohn Joseph A. on Wednesday, June 1. Shares for $12,010 were sold by Lima Jose A..

Another recent and important Endologix, Inc. (NASDAQ:ELGX) news was published by Nasdaq.com which published an article titled: “Endologix Inc. (ELGX) Is Sinking After FDA Asks For More Data On Nellix” on November 16, 2016.

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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