Endologix (ELGX) is Downgraded by RBC Capital Mkts to Sector Perform, Lowers Price Target to $ 12

Endologix (ELGX) was Downgraded by RBC Capital Mkts to ” Sector Perform” while Lowering the Price Target of the company shares to $ 12 from a previous price target of $17 . Earlier the firm had a rating of “Outperform ” on the company shares. RBC Capital Mkts advised their investors in a research report released on Aug 3, 2016.

Many Wall Street Analysts have commented on Endologix. Company shares were Reiterated by RBC Capital Mkts on Jun 13, 2016 to “Outperform”, Firm has raised the Price Target to $ 17 from a previous price target of $15 .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 .

On the company’s financial health, Endologix reported $-0.20 EPS for the quarter, based on the information available during the earnings call on Aug 2, 2016. Analyst had a consensus estimate of $-0.20. The company had revenue of $50.97 million for the quarter, compared to analysts expectations of $46.21 million. The company’s revenue was up 29.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.18 EPS.

Endologix closed down -0.13 points or -0.94% at $13.75 with 9,96,908 shares getting traded on Tusday. Post opening the session at $13.88, the shares hit an intraday low of $13.67 and an intraday high of $13.96 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.

In a different news, on Jun 6, 2016, Gregory D Waller (director) sold 7,800 shares at $12.86 per share price. According to the SEC, on Jun 2, 2016, David M. Jennings (VP-Human Resources) sold 957 shares at $12.55 per share price. On Jun 2, 2016, James Edward Machek (VP-Research & Development) sold 957 shares at $12.55 per share price, according to the Form-4 filing with the securities and exchange commission.

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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