Endologix Inc Gets a Hold Rating from RBC Capital

By Jason Carr

RBC Capital analyst Glenn Novarro reiterated a Hold rating on Endologix Inc (NASDAQ: ELGX) today and set a price target of $5. The company’s shares opened today at $5.11, close to its 52-week high of $14.15.

According to TipRanks.com, Novarro is a top 100 analyst with an average return of 13.3% and a 79.1% success rate. Novarro covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Varian Medical Systems, and Zimmer Biomet Holdings.

Endologix Inc has an analyst consensus of Hold, with a price target consensus of $5.58.

Based on Endologix Inc’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $42.61 million and GAAP net loss of $21.31 million. In comparison, last year the company earned revenue of $50.97 million and had a GAAP net loss of $66.84 million.

Based on the recent corporate insider activity of 45 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ELGX in relation to earlier this year.

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Endologix, Inc. engages in the research, development, manufacture, and trade of medical devices for the treatment of aortic disorders such as abdominal aortic aneurysms (AAA). Its products include AFX Endovascular AAA System, VELA Proximal Endograft, and Ovation Abdominal Stent Graft System.