Zacks: Transenterix Inc (TRXC) Given Average Rating of “Buy” by Brokerages
Shares of Transenterix Inc (NASDAQ:TRXC) have received a consensus broker rating score of 1.67 (Buy) from the three analysts that cover the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating and two have given a strong buy rating to the company.
Analysts have set a 1 year consensus target price of $4.25 for the company and are forecasting that the company will post ($0.10) earnings per share for the current quarter, according to Zacks. Zacks has also given Transenterix an industry rank of 169 out of 265 based on the ratings given to its competitors.
TRXC has been the topic of several analyst reports. Zacks Investment Research raised shares of Transenterix from a “hold” rating to a “buy” rating and set a $0.75 target price on the stock in a research note on Thursday, July 13th. Ladenburg Thalmann Financial Services set a $5.00 price objective on shares of Transenterix and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $4.00 price objective (up from $3.75) on shares of Transenterix in a research report on Monday, October 30th.
In other news, insider Todd Pope sold 600,000 shares of the company’s stock in a transaction dated Wednesday, October 18th. The shares were sold at an average price of $3.68, for a total value of $2,208,000.00. Following the sale, the insider now directly owns 462,644 shares of the company’s stock, valued at approximately $1,702,529.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several large investors have recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in shares of Transenterix by 17.1% in the 2nd quarter. Royal Bank of Canada now owns 418,867 shares of the company’s stock worth $298,000 after buying an additional 61,034 shares during the period. Global X Management Co. LLC grew its position in shares of Transenterix by 238.3% in the 2nd quarter. Global X Management Co. LLC now owns 331,075 shares of the company’s stock worth $235,000 after buying an additional 233,213 shares during the period. LMR Partners LLP purchased a new stake in shares of Transenterix in the 2nd quarter worth about $189,000. UBS Oconnor LLC purchased a new stake in shares of Transenterix in the 2nd quarter worth about $390,000. Finally, Goldman Sachs Group Inc. grew its position in shares of Transenterix by 7,137.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,203,199 shares of the company’s stock worth $854,000 after buying an additional 1,186,575 shares during the period.
Transenterix (NASDAQ:TRXC) opened at $2.84 on Friday.
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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