Transenterix Inc (TRXC) Downgraded to “Hold” at Zacks Investment Research
Transenterix Inc (NASDAQ:TRXC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report 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 began coverage on Transenterix in a research report on Tuesday. They issued a “buy” rating and a $3.00 price objective on the stock.
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/2016/10/12/transenterix-inc-trxc-downgraded-to-hold-at-zacks-investment-research.html
Shares of Transenterix (NASDAQ:TRXC) opened at 1.96 on Wednesday. The company has a 50 day moving average price of $1.55 and a 200 day moving average price of $1.97. The stock’s market cap is $225.40 million. Transenterix has a 12-month low of $1.03 and a 12-month high of $6.10.
Transenterix (NASDAQ:TRXC) last issued its earnings results on Friday, August 5th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. Analysts anticipate that Transenterix will post ($0.59) earnings per share for the current fiscal year.
In related news, Director Andrea Biffi acquired 40,000 shares of the business’s stock in a transaction on Monday, August 22nd. The shares were bought at an average cost of $1.40 per share, with a total value of $56,000.00. Following the completion of the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $126,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds have recently made changes to their positions in the company. Teachers Advisors Inc. raised its stake in shares of 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. Schwab Charles Investment Management Inc. raised its stake in shares of 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. BlackRock Investment Management LLC raised its stake in shares of 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. Advisor Group Inc. acquired a new stake in shares of Transenterix during the second quarter worth about $301,000. Finally, Royal Bank of Canada raised its stake in shares of 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 during the last quarter.
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.