Boston, MA 03\/03\/2014 (wallstreetpr) – Endologix, Inc. (NASDAQ:ELGX)<\/b> underwent significant haircut in the last trading session and all that was because the company failed to impress in its guidance.<\/p>\n
Shares of Endologix, Inc. (NASDAQ:ELGX) were down to $13.50 on Friday after the medical devices company lost more than 24 percent of its market value. That loss of value happened even though the company managed to beat estimates in the most recent quarter where it reported earning loss of $3.4 million or$0.05 per share, better than $6.5 million or $0.11 per share in the previous year.<\/p>\n
The adjusted EPS in the just reported fourth quarter was $0.1 million loss and breakeven per share, comparing with $5.5 million loss or $0.09 per share in adjusted loss in the previous year. In fact, the EPS was better than the average estimate of $0.05 per share loss from seven analysts polled by Thomson Reuters. Endologix, Inc. (NASDAQ:ELGX) announced that revenue in the fourth quarter was up 21 percent to $35.2 million. Yet analysts were looking for $35.8 million in the quarter.<\/p>\n
Disappointing guidance<\/b><\/p>\n
Endologix, Inc. (NASDAQ:ELGX) did good to exceed estimates in the most recent quarter. But the company lacked good news in its guidance column. The management declared that they expect full-year 2014 loss per share in the range of 31 and 44 cents on revenue between $146 and $152 million. Yet, analysts have modeled breakeven per share and $161.5 million in revenue.<\/p>\n
As it happens more often than not, dim guidance is not the kind of thing that keeps investor spirit high. So then, the poor guidance that Endologix, Inc. (NASDAQ:ELGX) has issued for the current fiscal year has already attracted bearish sentiments from brokerages. The stock was downgraded to \u201cperform\u201d from \u201coutperform\u201d by analysts at Oppenheiner. And analysts at Stifel Nicolaus have reduced their price target on the stock by 15 percent to $17.<\/p>\n
Glimmer of hope<\/b><\/p>\n
Endologix, Inc. (NASDAQ:ELGX) is not all bad news, 2014 many not be attractive as it has been pointed out because the company will be spending a lot in introducing its new products to physicians overseas and in the U.S. So thereafter, 2015 should be a much better year for the company.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 03\/03\/2014 (wallstreetpr) – Endologix, Inc. (NASDAQ:ELGX) underwent significant haircut in the last trading session and all that was because the company failed to […]<\/p>\n","protected":false},"author":13,"featured_media":16310,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[4085,263],"tags":[4797,4798],"stock_ticker":[],"class_list":["post-16287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analyst-reports-on-stocks","category-technology","tag-endologix-inc-nasdaqelgx","tag-nasdaqelgx","entry"],"acf":[],"yoast_head":"\n