Transenterix Inc (TRXC) Downgraded by Zacks Investment Research to Hold
Transenterix Inc (NASDAQ:TRXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “TransEnterix Inc. designs, develops and manufactures medical-devices. It offers SPIDER(R) Surgical System, a laparoscopic surgical platform that allows intra-abdominal triangulation procedures to be performed with articulating instruments through a single site. The company is primarily focused on the development and commercialization of SurgiBot, a patient-side minimally invasive surgical robotic system. TransEnterix Inc., formerly known as SafeStitch Medical, Inc., is based in United States. “
Separately, B. Riley assumed coverage on Transenterix in a research report on Tuesday. They set a “buy” rating and a $3.00 price objective on the stock.
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Transenterix (NASDAQ:TRXC) opened at 1.96 on Wednesday. Transenterix has a 12-month low of $1.03 and a 12-month high of $6.10. The stock’s market capitalization is $225.40 million. The firm’s 50-day moving average price is $1.55 and its 200 day moving average price is $1.97.
Transenterix (NASDAQ:TRXC) last posted its quarterly earnings data on Friday, August 5th. The company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.04. On average, equities analysts anticipate that Transenterix will post ($0.59) EPS for the current year.
In other Transenterix news, Director Andrea Biffi bought 40,000 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were purchased at an average price of $1.40 per share, with a total value of $56,000.00. Following the completion of the acquisition, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $126,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Institutional investors have recently bought and sold shares of the stock. Teachers Advisors Inc. raised its position in Transenterix by 19.4% in the second quarter. Teachers Advisors Inc. now owns 106,250 shares of the company’s stock valued at $130,000 after buying an additional 17,271 shares during the period. Schwab Charles Investment Management Inc. raised its position in Transenterix by 170.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 143,700 shares of the company’s stock valued at $176,000 after buying an additional 90,600 shares during the period. BlackRock Investment Management LLC raised its position in Transenterix by 32.9% in the second quarter. BlackRock Investment Management LLC now owns 238,240 shares of the company’s stock valued at $291,000 after buying an additional 58,984 shares during the period. Advisor Group Inc. acquired a new position in Transenterix during the second quarter valued at approximately $301,000. Finally, Royal Bank of Canada raised its position in Transenterix by 2.7% in the second quarter. Royal Bank of Canada now owns 446,327 shares of the company’s stock valued at $544,000 after buying an additional 11,800 shares during the period.
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.
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