In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Endologix Inc. (NASDAQ:ELGX) reported that Brown Capital Management Llc. has picked up 8,755,102 of common stock as of 2017-03-07.
The acquisition brings the aggregate amount owned by Brown Capital Management Llc. to a total of 8,755,102 representing a 10.58% stake in the company.
For those not familiar with the company, 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, including 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), the VELA Proximal Endograft (VELA) and the Endologix Powerlink with Intuitrak Delivery System (Intuitrak). The EVAS product is the Nellix EndoVascular Aneurysm Sealing System (Nellix EVAS System). Its EVAS product is the Nellix EndoVascular Aneurysm Sealing System (Nellix EVAS System). It offers accessories to facilitate the optimal delivery of its EVAR products, including compatible guidewires, snares, and catheter introducer sheaths.
A glance at Endologix Inc. (NASDAQ:ELGX)’s key stats reveals a current market capitalization of 519.30 Million based on 82.93 Million shares outstanding and a price at last close of $6.54 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-12-14, Zenty picked up 3,000 at a purchase price of $6.51. This brings their total holding to 41,574 as of the date of the filing.
On the sell side, the most recent transaction saw Lima unload 4,710 shares at a sale price of $11.68. This brings their total holding to 37,884.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Endologix Inc. (NASDAQ:ELGX) as things move forward to see if its progress aligns with these transactions.
Subscribe below and we’ll keep you on top of what’s happening before it moves markets.
