Equities research analysts expect Invuity Inc (NASDAQ:IVTY) to announce sales of $11.38 million for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Invuity’s earnings. The highest sales estimate is $11.60 million and the lowest is $11.00 million. Invuity posted sales of $9.60 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 18.5%. The business is expected to report its next quarterly earnings report on Tuesday, November 6th.
On average, analysts expect that Invuity will report full-year sales of $45.88 million for the current fiscal year, with estimates ranging from $45.00 million to $46.40 million. For the next fiscal year, analysts anticipate that the company will post sales of $56.10 million per share, with estimates ranging from $54.00 million to $58.30 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Invuity.
Invuity (NASDAQ:IVTY) last issued its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.10. The firm had revenue of $10.50 million during the quarter, compared to analyst estimates of $10.73 million. Invuity had a negative return on equity of 837.22% and a negative net margin of 89.29%.
IVTY has been the subject of several research reports. Zacks Investment Research raised Invuity from a “hold” rating to a “buy” rating and set a $4.25 price objective for the company in a research note on Thursday, July 5th. Leerink Swann lowered Invuity from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Stifel Nicolaus lowered Invuity from a “buy” rating to a “hold” rating in a research note on Tuesday. ValuEngine lowered Invuity from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. Finally, William Blair lowered Invuity from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $6.81.
IVTY opened at $7.35 on Friday. The firm has a market cap of $176.94 million, a PE ratio of -3.35 and a beta of 0.14. The company has a debt-to-equity ratio of 10.57, a current ratio of 2.13 and a quick ratio of 1.69. Invuity has a fifty-two week low of $2.35 and a fifty-two week high of $9.55.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IVTY. Wells Fargo & Company MN boosted its stake in shares of Invuity by 25.3% during the 1st quarter. Wells Fargo & Company MN now owns 80,451 shares of the medical instruments supplier’s stock worth $310,000 after acquiring an additional 16,253 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in shares of Invuity during the 1st quarter worth $485,000. JPMorgan Chase & Co. boosted its stake in shares of Invuity by 5,196.9% during the 1st quarter. JPMorgan Chase & Co. now owns 47,672 shares of the medical instruments supplier’s stock worth $184,000 after acquiring an additional 46,772 shares in the last quarter. Cannell Capital LLC bought a new stake in shares of Invuity during the 1st quarter worth $4,235,000. Finally, CVI Holdings LLC bought a new stake in shares of Invuity during the 1st quarter worth $302,000. 59.95% of the stock is owned by institutional investors and hedge funds.
Invuity Company Profile
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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