Invuity, Inc. (IVTY) Expected to Announce Quarterly Sales of $11.84 Million

Wall Street analysts expect Invuity, Inc. (NASDAQ:IVTY) to post sales of $11.84 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Invuity’s earnings, with estimates ranging from $11.60 million to $12.20 million. Invuity reported sales of $9.36 million in the same quarter last year, which would suggest a positive year over year growth rate of 26.5%. The business is scheduled to issue its next earnings results on Tuesday, February 13th.

According to Zacks, analysts expect that Invuity will report full year sales of $11.84 million for the current financial year, with estimates ranging from $40.00 million to $41.10 million. For the next fiscal year, analysts expect that the business will post sales of $52.70 million per share, with estimates ranging from $50.10 million to $55.40 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Invuity.

Invuity (NASDAQ:IVTY) last posted its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported ($0.52) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.56) by $0.04. Invuity had a negative net margin of 111.43% and a negative return on equity of 212.38%. The company had revenue of $9.60 million during the quarter, compared to analyst estimates of $9.87 million.

IVTY has been the topic of a number of research analyst reports. Northland Securities reissued a “buy” rating and set a $13.00 price objective on shares of Invuity in a research report on Tuesday, September 26th. Piper Jaffray Companies reissued a “buy” rating and set a $12.00 price objective on shares of Invuity in a research report on Friday, November 10th. ValuEngine raised shares of Invuity from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research raised shares of Invuity from a “sell” rating to a “hold” rating in a research report on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $11.67.

Large investors have recently added to or reduced their stakes in the company. Discovery Group I LLC grew its position in Invuity by 9,587.9% during the 3rd quarter. Discovery Group I LLC now owns 1,258,849 shares of the medical instruments supplier’s stock valued at $11,204,000 after purchasing an additional 1,245,855 shares during the last quarter. B. Riley Financial Inc. purchased a new stake in Invuity during the 2nd quarter valued at about $3,625,000. Summit Partners Public Asset Management LLC purchased a new stake in Invuity during the 2nd quarter valued at about $1,549,000. Cowen Prime Services LLC grew its position in Invuity by 37.3% during the 2nd quarter. Cowen Prime Services LLC now owns 470,050 shares of the medical instruments supplier’s stock valued at $3,408,000 after purchasing an additional 127,800 shares during the last quarter. Finally, Lyon Street Capital LLC grew its position in Invuity by 15.5% during the 3rd quarter. Lyon Street Capital LLC now owns 883,355 shares of the medical instruments supplier’s stock valued at $7,862,000 after purchasing an additional 118,825 shares during the last quarter. 69.06% of the stock is currently owned by hedge funds and other institutional investors.

Invuity (NASDAQ IVTY) traded down $0.10 during trading hours on Thursday, reaching $6.90. 196,900 shares of the company were exchanged, compared to its average volume of 113,232. Invuity has a 52 week low of $5.70 and a 52 week high of $9.70. The company has a debt-to-equity ratio of 5.39, a current ratio of 2.90 and a quick ratio of 2.47.

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Invuity Company Profile

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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Earnings History and Estimates for Invuity (NASDAQ:IVTY)

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