Lake Street Capital Comments on Invuity Inc.’s Q3 2016 Earnings (IVTY)
Invuity Inc. (NASDAQ:IVTY) – Research analysts at Lake Street Capital issued their Q3 2016 earnings estimates for shares of Invuity in a research report issued on Monday. Lake Street Capital analyst B. Jackson anticipates that the firm will earn ($0.53) per share for the quarter. Lake Street Capital has a “Buy” rating and a $18.00 price objective on the stock. Lake Street Capital also issued estimates for Invuity’s Q4 2016 earnings at ($0.45) EPS, FY2016 earnings at ($2.43) EPS, Q1 2017 earnings at ($0.47) EPS, Q2 2017 earnings at ($0.38) EPS, Q3 2017 earnings at ($0.28) EPS, Q4 2017 earnings at ($0.17) EPS, FY2017 earnings at ($1.29) EPS, Q1 2018 earnings at ($0.18) EPS, Q2 2018 earnings at ($0.10) EPS and FY2018 earnings at ($0.27) EPS.
Invuity (NASDAQ:IVTY) last posted its quarterly earnings results on Tuesday, July 19th. The company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.05. The business earned $8.20 million during the quarter, compared to analysts’ expectations of $8.04 million. Invuity had a negative return on equity of 113.16% and a negative net margin of 156.54%.
Several other research analysts have also recently commented on IVTY. Zacks Investment Research upgraded Invuity from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research note on Tuesday. Piper Jaffray Cos. restated an “overweight” rating and set a $12.00 price objective on shares of Invuity in a research note on Wednesday, July 20th. Craig Hallum began coverage on Invuity in a research note on Monday, August 29th. They set a “buy” rating and a $25.00 price objective on the stock. TheStreet cut Invuity to a “sell” rating in a research note on Tuesday, July 19th. Finally, Leerink Swann restated a “buy” rating and set a $15.00 price objective on shares of Invuity in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $17.00.
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Invuity (NASDAQ:IVTY) traded up 0.07% during mid-day trading on Thursday, hitting $13.89. The stock had a trading volume of 94,740 shares. The stock’s market cap is $186.76 million. The company has a 50-day moving average of $12.34 and a 200-day moving average of $8.92. Invuity has a 12-month low of $4.80 and a 12-month high of $15.46.
In other news, Director Eric W. Roberts sold 42,000 shares of the company’s stock in a transaction that occurred on Thursday, July 21st. The stock was sold at an average price of $12.00, for a total transaction of $504,000.00. Following the completion of the transaction, the director now directly owns 69,945 shares of the company’s stock, valued at $839,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eric W. Roberts sold 26,839 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $14.00, for a total value of $375,746.00. Following the transaction, the director now directly owns 69,945 shares of the company’s stock, valued at $979,230. The disclosure for this sale can be found here. Insiders own 13.84% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. bought a new position in Invuity during the first quarter valued at approximately $100,000. Paloma Partners Management Co bought a new position in Invuity during the second quarter valued at approximately $179,000. State Street Corp raised its position in Invuity by 4.9% in the first quarter. State Street Corp now owns 36,116 shares of the company’s stock valued at $259,000 after buying an additional 1,700 shares during the period. Coe Capital Management LLC bought a new position in Invuity during the second quarter valued at approximately $552,000. Finally, Cowen Prime Services LLC bought a new position in Invuity during the second quarter valued at approximately $581,000. 48.42% of the stock is owned by institutional investors.
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