Invuity Inc. (IVTY) Upgraded to Hold by Zacks Investment Research
Invuity Inc. (NASDAQ:IVTY) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “Invuity, Inc. is a medical technology company. Its products include Eikon Illuminated Retractor System, Saber Yankauer, Saber Frazier, Eika Illuminated Retractor System, Breiten Illuminated Retractor System, Eipex Illuminated Retractor System, Eivector Illuminated Retractor System and Waveguide XT System. The Company sells its devices through its direct sales representatives and original equipment manufacturers of surgical systems. Invuity, Inc. is based in San Francisco, California. “
A number of other research firms have also recently commented on IVTY. Leerink Swann reiterated a “buy” rating and issued a $15.00 target price on shares of Invuity in a research note on Thursday, June 23rd. TheStreet cut shares of Invuity to a “sell” rating in a research note on Tuesday, July 19th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $12.00 target price on shares of Invuity in a research note on Wednesday, July 20th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $17.00.
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Invuity (NASDAQ:IVTY) traded down 2.07% during trading on Tuesday, hitting $12.30. 44,849 shares of the company’s stock were exchanged. Invuity has a 12-month low of $4.80 and a 12-month high of $14.40. The company’s 50-day moving average price is $13.35 and its 200 day moving average price is $9.62. The firm’s market cap is $165.39 million.
Invuity (NASDAQ:IVTY) last released its quarterly earnings results on Tuesday, July 19th. The company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.05. Invuity had a negative net margin of 156.54% and a negative return on equity of 113.16%. The business had revenue of $8.20 million for the quarter, compared to analysts’ expectations of $8.04 million. Equities analysts forecast that Invuity will post ($2.74) earnings per share for the current fiscal year.
In related news, insider Alex Vayser sold 3,000 shares of Invuity stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $13.18, for a total value of $39,540.00. Following the sale, the insider now owns 168,407 shares of the company’s stock, valued at approximately $2,219,604.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Eric W. Roberts sold 2,201 shares of Invuity stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $14.00, for a total transaction of $30,814.00. Following the completion of the sale, the director now directly owns 69,945 shares in the company, valued at approximately $979,230. The disclosure for this sale can be found here. Company insiders own 13.84% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in IVTY. Napier Park Global Capital US LP boosted its stake in Invuity by 44.1% in the fourth quarter. Napier Park Global Capital US LP now owns 210,900 shares of the company’s stock worth $1,860,000 after buying an additional 64,557 shares in the last quarter. Novo A S bought a new stake in Invuity during the fourth quarter worth about $8,158,000. Granite Investment Partners LLC bought a new stake in Invuity during the first quarter worth about $866,000. RTW Investments LLC boosted its stake in Invuity by 4.9% in the first quarter. RTW Investments LLC now owns 212,808 shares of the company’s stock worth $1,536,000 after buying an additional 10,000 shares in the last quarter. Finally, State Street Corp boosted its stake in Invuity by 4.9% in the first quarter. State Street Corp now owns 36,116 shares of the company’s stock worth $259,000 after buying an additional 1,700 shares in the last quarter. 48.42% of the stock is currently owned by hedge funds and other institutional investors.
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