Invuity Inc. (IVTY) Upgraded to “Buy” at Zacks Investment Research
According to Zacks, “Invuity, Inc. is a medical technology company. Its products include Eikon Illuminated Retractor System, Saber Yankauer, Saber Frazier, Eika Illuminated Retractor System, Breiten Illuminated Retractor System, Eipex Illuminated Retractor System, Eivector Illuminated Retractor System and Waveguide XT System. The Company sells its devices through its direct sales representatives and original equipment manufacturers of surgical systems. Invuity, Inc. is based in San Francisco, California. “
Other research analysts have also issued research reports about the stock. Leerink Swann reaffirmed a buy rating and set a $15.00 price objective on shares of Invuity in a research report on Thursday, June 23rd. Lake Street Capital initiated coverage on shares of Invuity in a research report on Monday. They set a buy rating and a $18.00 price objective for the company. Craig Hallum initiated coverage on shares of Invuity in a research report on Monday, August 29th. They set a buy rating and a $25.00 price objective for the company. Piper Jaffray Cos. reaffirmed an overweight rating and set a $12.00 price objective on shares of Invuity in a research report on Wednesday, July 20th. Finally, TheStreet cut shares of Invuity to a sell rating in a research note on Tuesday, July 19th. One research analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $17.00.
Shares of Invuity (NASDAQ:IVTY) opened at 13.74 on Tuesday. The stock’s 50 day moving average price is $12.24 and its 200-day moving average price is $8.89. Invuity has a 12-month low of $4.80 and a 12-month high of $15.46. The company’s market cap is $184.75 million.
Invuity (NASDAQ:IVTY) last announced its quarterly earnings data on Tuesday, July 19th. The company reported ($0.76) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.05. The business earned $8.20 million during the quarter, compared to analyst estimates of $8.04 million. Invuity had a negative net margin of 156.54% and a negative return on equity of 113.16%. On average, equities research analysts forecast that Invuity will post ($2.74) earnings per share for the current year.
In other Invuity news, Director Eric W. Roberts sold 5,000 shares of the company’s stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $13.47, for a total transaction of $67,350.00. Following the sale, the director now directly owns 69,945 shares of the company’s stock, valued at $942,159.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert Gerberich sold 10,500 shares of the company’s stock in a transaction dated Wednesday, August 24th. The stock was sold at an average price of $12.53, for a total transaction of $131,565.00. Following the sale, the vice president now directly owns 10,500 shares in the company, valued at $131,565. The disclosure for this sale can be found here. 13.84% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Invuity by 15.9% in the second quarter. FMR LLC now owns 2,009,300 shares of the company’s stock valued at $19,149,000 after buying an additional 276,200 shares in the last quarter. Deerfield Management Co. boosted its stake in shares of Invuity by 23.1% in the first quarter. Deerfield Management Co. now owns 1,327,009 shares of the company’s stock valued at $9,581,000 after buying an additional 248,791 shares in the last quarter. Granite Investment Partners LLC purchased a new stake in shares of Invuity during the first quarter valued at $866,000. Fiera Capital Corp purchased a new stake in shares of Invuity during the second quarter valued at $687,000. Finally, Cowen Prime Services LLC purchased a new stake in shares of Invuity during the second quarter valued at $581,000. 48.42% of the stock is currently owned by hedge funds and other institutional investors.
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