Zacks: Transenterix Inc (NASDAQ:TRXC) Given Consensus Recommendation of “Strong Buy” by Analysts
Transenterix Inc (NASDAQ:TRXC) has been assigned an average broker rating score of 1.33 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a buy rating and two have issued a strong buy rating on the company. Transenterix’s rating score has improved by 16.9% in the last 90 days as a result of various analysts’ ratings changes.
Brokerages have set a 12-month consensus target price of $3.58 for the company and are predicting that the company will post ($0.11) EPS for the current quarter, according to Zacks. Zacks has also given Transenterix an industry rank of 156 out of 265 based on the ratings given to its competitors.
Several research firms recently commented on TRXC. B. Riley began coverage on shares of Transenterix in a report on Thursday. They issued a “buy” rating and a $3.00 price target on the stock. Zacks Investment Research lowered shares of Transenterix from a “hold” rating to a “sell” rating in a research note on Wednesday, July 13th.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/07/zacks-transenterix-inc-nasdaqtrxc-given-consensus-recommendation-of-strong-buy-by-analysts.html
In other news, Director Andrea Biffi acquired 40,000 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were bought at an average price of $1.40 per share, for a total transaction of $56,000.00. Following the completion of the purchase, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $126,000. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada raised its stake in Transenterix by 2.7% in the second quarter. Royal Bank of Canada now owns 446,327 shares of the company’s stock worth $544,000 after buying an additional 11,800 shares in the last quarter. Teachers Advisors Inc. increased its stake in Transenterix by 19.4% in the second quarter. Teachers Advisors Inc. now owns 106,250 shares of the company’s stock worth $130,000 after buying an additional 17,271 shares during the last quarter. BlackRock Investment Management LLC increased its stake in Transenterix by 32.9% in the second quarter. BlackRock Investment Management LLC now owns 238,240 shares of the company’s stock worth $291,000 after buying an additional 58,984 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Transenterix by 170.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 143,700 shares of the company’s stock worth $176,000 after buying an additional 90,600 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Transenterix by 29.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,027,284 shares of the company’s stock worth $1,253,000 after buying an additional 234,681 shares during the last quarter.
Shares of Transenterix (NASDAQ:TRXC) traded up 7.02% during mid-day trading on Friday, hitting $1.83. 1,390,516 shares of the stock traded hands. The firm’s 50 day moving average price is $1.51 and its 200 day moving average price is $2.04. The firm’s market cap is $210.45 million. Transenterix has a 12-month low of $1.03 and a 12-month high of $6.10.
Transenterix (NASDAQ:TRXC) last posted its quarterly earnings results on Friday, August 5th. The company reported ($0.11) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.15) by $0.04. On average, equities research analysts predict that Transenterix will post ($0.59) EPS for the current fiscal year.
TransEnterix, Inc is a medical device company. The Company is focused on the development and commercialization of ALF-X Surgical Robotic System (the ALF-X System), and SurgiBot System. The Company’s ALF-X System is a multi-port robotic surgery system, which allows multiple robotic arms to control instruments and a camera.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Transenterix Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transenterix Inc and related companies with MarketBeat.com's FREE daily email newsletter.