Time to Buy Endologix, Inc. (ELGX) After Reaching 52 Week Low?

February 22, 2018 - By Adrian Mccoy

Investors sentiment increased to 1.07 in Q3 2017. Its up 0.25, from 0.82 in 2017Q2. It improved, as 21 investors sold Endologix, Inc. shares while 22 reduced holdings. 17 funds opened positions while 29 raised stakes. 83.13 million shares or 3.94% less from 86.54 million shares in 2017Q2 were reported.
Schwab Charles Invest Mngmt has invested 0% in Endologix, Inc. (NASDAQ:ELGX). Cubist Systematic Strategies Ltd Liability Com, a Connecticut-based fund reported 15,354 shares. Palisade Capital Nj holds 1.25 million shares or 0.2% of its portfolio. Moreover, Redmile Group has 1.44% invested in Endologix, Inc. (NASDAQ:ELGX) for 6.54M shares. 1.12 million are owned by Mpm Asset Mngmt Ltd Co. Millennium Mgmt Limited Liability Co reported 55,473 shares. Columbia Wanger Asset Ltd accumulated 1.99M shares. Wells Fargo Mn owns 0% invested in Endologix, Inc. (NASDAQ:ELGX) for 110,900 shares. Lombard Odier Asset Management (Usa), New York-based fund reported 1.60 million shares. Great West Life Assurance Company Can holds 0% of its portfolio in Endologix, Inc. (NASDAQ:ELGX) for 6,683 shares. 12,429 were reported by Bnp Paribas Arbitrage. Principal Grp Inc has invested 0% in Endologix, Inc. (NASDAQ:ELGX). Legal General Grp Public Limited Co, a United Kingdom-based fund reported 24,333 shares. California State Teachers Retirement Systems invested in 0% or 133,282 shares. Rhenman And Prtnrs Asset Mngmt Ab holds 1.49 million shares or 0.85% of its portfolio.

The stock of Endologix, Inc. (NASDAQ:ELGX) hit a new 52-week low and has $3.76 target or 8.00 % below today’s $4.09 share price. The 7 months bearish chart indicates high risk for the $341.33 million company. The 1-year low was reported on Feb, 22 by Barchart.com. If the $3.76 price target is reached, the company will be worth $27.31 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.

The stock decreased 6.62% or $0.29 during the last trading session, reaching $4.09. About 396,970 shares traded. Endologix, Inc. (NASDAQ:ELGX) has declined 63.00% since February 22, 2017 and is downtrending. It has underperformed by 79.70% the S&P500.

Endologix, Inc. (NASDAQ:ELGX) Ratings Coverage

Among 10 analysts covering Endologix Inc. (NASDAQ:ELGX), 3 have Buy rating, 1 Sell and 6 Hold. Therefore 30% are positive. Endologix Inc. had 44 analyst reports since August 4, 2015 according to SRatingsIntel. The rating was upgraded by Oppenheimer on Friday, August 7 to “Outperform”. The rating was maintained by RBC Capital Markets with “Hold” on Friday, September 1. Stifel Nicolaus maintained Endologix, Inc. (NASDAQ:ELGX) on Wednesday, August 2 with “Hold” rating. The firm has “Overweight” rating given on Monday, April 4 by JP Morgan. RBC Capital Markets maintained the shares of ELGX in report on Monday, June 13 with “Outperform” rating. The rating was downgraded by BMO Capital Markets to “Market Perform” on Tuesday, October 27. RBC Capital Markets maintained the stock with “Outperform” rating in Tuesday, February 23 report. Stifel Nicolaus maintained it with “Buy” rating and $15 target in Tuesday, February 2 report. RBC Capital Markets maintained it with “Hold” rating and $500 target in Monday, July 31 report. As per Tuesday, September 6, the company rating was initiated by Leerink Swann.

More notable recent Endologix, Inc. (NASDAQ:ELGX) news were published by: Businesswire.com which released: “Endologix, Inc. to Announce Fourth Quarter and Fiscal Year 2017 Financial …” on January 25, 2018, also Businesswire.com with their article: “John McDermott Steps Down as Chief Executive Officer of Endologix, Inc.” published on February 21, 2018, Businesswire.com published: “Endologix, Inc. to Present at the Leerink Partners 7” on January 30, 2018. More interesting news about Endologix, Inc. (NASDAQ:ELGX) were released by: Businesswire.com and their article: “Endologix, Inc. Completes Patient Enrollment in the ELEVATE IDE Clinical Study” published on February 05, 2018 as well as Benzinga.com‘s news article titled: “Endologix Q4 Earnings Preview” with publication date: February 21, 2018.

Endologix, Inc. develops, manufactures, markets, and sells medical devices for the treatment of abdominal aortic aneurysms in the United States and internationally. The company has market cap of $341.33 million. It offers minimally-invasive endovascular repair products, 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. It currently has negative earnings. The firm also provides endovascular sealing (EVAS) product that is based on the Nellix EVAS system to seal the aneurysm, and provides blood flow to the legs through two blood lumens.

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