- Endologix (ELGX -23.9%) shares plummet after the medical device maker reports mixed Q4 results and forecasts FY 2014 revenues below analyst consensus due to slow growth in U.S. device sales.
- ELGX sees FY 2014 GAAP EPS loss of $0.44-$0.31 vs. analyst consensus estimate of flat earnings, and revenues of $146M-$152M vs. $161M consensus.
- Oppenheimer downgrades shares to Perform from Outperform and lowers its price target to $16 from $20 on ELGX's disappointing 6%-10% 2014 U.S. growth forecast following 18% growth in 2013; the firm still sees Nellix as a long-term growth driver, but there's little to offset near-term U.S. uncertainty with no Nellix data read-outs expected this year and EU constraints not expected to be alleviated until Q4.
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