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A key reason for this move has been the negative trend in earnings estimate revisions. For the full year, we have seen 3 estimates moving down in the past 30 days, with no upward revision. This trend has caused the consensus estimate to trend lower, worsening from a loss of 1 cent a share a month ago to its current level of 24 cent per share.
Also, for the current quarter, Endologix has seen 1 downward estimate, with no revision in the upside, dragging the consensus estimate to a loss of 8 cents a share from a loss of 2 cents over the past 30 days.
The stock also has seen some pretty dismal trading lately, as the share price has dropped 14.3% in the past month.
So it may not be a good decision to keep this stock in your portfolio anymore, at least if you don't have a long time horizon to wait.
If you are still interested in the Medical sector, you may instead consider some better-ranked stocks including Align Technology Inc. (NASDAQ: ALGN), CR Bard Inc. (NYSE: BCR) and Becton, Dickinson and Company (NYSE: BDX). All these stocks hold a Zacks Rank #2 (Buy) and may be better selections at this time.
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ALIGN TECH INC (NASDAQ: ALGN): Free Stock Analysis Report
BARD C R INC (NYSE: BCR): Free Stock Analysis Report
BECTON DICKINSO (NYSE: BDX): Free Stock Analysis Report
ENDOLOGIX INC (NASDAQ: ELGX): Free Stock Analysis Report
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