Cadian Capital Management Lp buys $67.9 Million stake in Endologix (ELGX)

Endologix (ELGX) : Cadian Capital Management Lp scooped up 313,058 additional shares in Endologix during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 5,989,400 shares of Endologix which is valued at $67.9 Million.Endologix makes up approximately 4.40% of Cadian Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Wellington Management Group Llp reduced its stake in ELGX by selling 1,868,907 shares or 35.77% in the most recent quarter. The Hedge Fund company now holds 3,355,660 shares of ELGX which is valued at $38.1 Million. Endologix makes up approx 0.01% of Wellington Management Group Llp’s portfolio. Landscape Capital Management L.l.c. sold out all of its stake in ELGX during the most recent quarter. The investment firm sold 55,939 shares of ELGX which is valued $634,348.Blackrock Group Ltd reduced its stake in ELGX by selling 22,340 shares or 8.68% in the most recent quarter. The Hedge Fund company now holds 234,987 shares of ELGX which is valued at $2.7 Million.Rhumbline Advisers boosted its stake in ELGX in the latest quarter, The investment management firm added 5,355 additional shares and now holds a total of 76,048 shares of Endologix which is valued at $859,342.

Endologix opened for trading at $12.04 and hit $12.59 on the upside on Wednesday, eventually ending the session at $12.32, with a gain of 2.41% or 0.29 points. The heightened volatility saw the trading volume jump to 20,52,533 shares. Company has a market cap of $1,008 M.

On the company’s financial health, Endologix reported $-0.25 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $-0.20. The company had revenue of $42.40 million for the quarter, compared to analysts expectations of $38.70 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.14 EPS.

Many Wall Street Analysts have commented on Endologix. Company shares were Reiterated by RBC Capital Mkts on May 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 15 from a previous price target of $11 .Endologix was Resumed by JP Morgan to “Overweight” on Apr 4, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 23, 2016 to “Outperform” and Lowered the Price Target to $ 11 from a previous price target of $15 .

Endologix Inc. 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: 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) and the Endologix Powerlink with Intuitrak Delivery System (Intuitrak). The Company’s EVAS product is based on the Nellix platform to seal the aneurysm and provide blood flow to the legs through two blood lumens.

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