Invuity, Inc. (IVTY) Receives Average Recommendation of “Buy” from Brokerages
Shares of Invuity, Inc. (NASDAQ:IVTY) have earned a consensus rating of “Buy” from the six analysts that are covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $11.00.
Several equities research analysts have commented on IVTY shares. Zacks Investment Research lowered shares of Invuity from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. ValuEngine upgraded shares of Invuity from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Piper Jaffray Companies restated a “buy” rating and set a $10.00 target price on shares of Invuity in a research report on Wednesday, July 26th. Finally, Northland Securities restated a “buy” rating and set a $13.00 target price on shares of Invuity in a research report on Tuesday, September 26th.
Invuity (NASDAQ IVTY) traded up 6.25% during trading on Friday, reaching $9.35. 52,688 shares of the company’s stock were exchanged. Invuity has a 52 week low of $4.50 and a 52 week high of $11.43. The stock has a 50-day moving average price of $8.69 and a 200 day moving average price of $8.69. The firm’s market capitalization is $159.42 million.
Invuity (NASDAQ:IVTY) last issued its earnings results on Tuesday, July 25th. The medical instruments supplier reported ($0.61) EPS for the quarter, missing the consensus estimate of ($0.54) by ($0.07). The company had revenue of $9.77 million for the quarter, compared to analysts’ expectations of $10.30 million. Invuity had a negative return on equity of 140.69% and a negative net margin of 114.61%. Equities research analysts forecast that Invuity will post ($2.38) earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently modified their holdings of the business. Citadel Advisors LLC purchased a new stake in shares of Invuity during the 2nd quarter worth $101,000. UBS Group AG boosted its position in shares of Invuity by 53.4% during the 1st quarter. UBS Group AG now owns 13,200 shares of the medical instruments supplier’s stock worth $105,000 after purchasing an additional 4,594 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Invuity during the 1st quarter worth $151,000. Spark Investment Management LLC purchased a new stake in shares of Invuity during the 2nd quarter worth $158,000. Finally, Boston Advisors LLC boosted its position in shares of Invuity by 55.6% during the 2nd quarter. Boston Advisors LLC now owns 28,280 shares of the medical instruments supplier’s stock worth $205,000 after purchasing an additional 10,111 shares in the last quarter. Institutional investors own 68.87% of the company’s stock.
Invuity, Inc, a medical technology company, develops various surgical devices to address various surgical procedures in the United States. The company integrates its intelligent photonics technology platform into its single-use and reusable advanced surgical devices to address various critical intracavity illumination and visualization challenges.
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