Invuity (NASDAQ:IVTY) was downgraded by analysts at William Blair from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Tuesday, The Fly reports.
IVTY has been the subject of several other reports. Zacks Investment Research raised shares of Invuity from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research report on Thursday, July 5th. ValuEngine cut shares of Invuity from a “hold” rating to a “sell” rating in a research report on Thursday, September 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Invuity currently has an average rating of “Hold” and a consensus price target of $6.81.
Shares of Invuity stock traded up $1.62 during trading on Tuesday, hitting $7.37. 83,373 shares of the stock were exchanged, compared to its average volume of 207,036. The stock has a market cap of $138.42 million, a P/E ratio of -3.35 and a beta of 0.13. Invuity has a 12-month low of $2.35 and a 12-month high of $9.55. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 10.57.
Invuity (NASDAQ:IVTY) last released its quarterly earnings data on Thursday, August 2nd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.10. The business had revenue of $10.50 million during the quarter, compared to analysts’ expectations of $10.73 million. Invuity had a negative net margin of 89.29% and a negative return on equity of 724.87%. sell-side analysts forecast that Invuity will post -1.41 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Deerfield Management Co. lifted its position in Invuity by 31.8% in the fourth quarter. Deerfield Management Co. now owns 1,690,498 shares of the medical instruments supplier’s stock valued at $9,720,000 after acquiring an additional 407,900 shares during the last quarter. Cannell Capital LLC lifted its position in Invuity by 36.2% in the second quarter. Cannell Capital LLC now owns 1,498,034 shares of the medical instruments supplier’s stock valued at $5,842,000 after acquiring an additional 398,034 shares during the last quarter. Novo A S lifted its position in Invuity by 2.6% in the fourth quarter. Novo A S now owns 1,318,448 shares of the medical instruments supplier’s stock valued at $7,581,000 after acquiring an additional 33,000 shares during the last quarter. Discovery Group I LLC lifted its position in Invuity by 9,587.9% in the third quarter. Discovery Group I LLC now owns 1,258,849 shares of the medical instruments supplier’s stock valued at $11,204,000 after acquiring an additional 1,245,855 shares during the last quarter. Finally, Interwest Venture Management Co. purchased a new stake in Invuity in the fourth quarter valued at $6,212,000. 59.95% of the stock is owned by hedge funds and other institutional investors.
Invuity, Inc, a medical technology company, develops and markets surgical devices in the United States and Asia. The company through its intelligent photonics technology platform develops single-use and reusable illuminated surgical devices, which provide surgeons with illumination and direct visualization of surgical cavities.
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