Lake Street Capital Begins Coverage on Invuity Inc. (IVTY)
Other analysts have also issued reports about the company. Leerink Swann restated a buy rating and issued a $15.00 target price on shares of Invuity in a research note on Thursday, June 23rd. Craig Hallum initiated coverage on Invuity in a research note on Monday, August 29th. They issued a buy rating and a $25.00 target price for the company. Zacks Investment Research upgraded Invuity from a sell rating to a hold rating in a research note on Tuesday, July 26th. Piper Jaffray Cos. restated an overweight rating and issued a $12.00 target price on shares of Invuity in a research note on Wednesday, July 20th. Finally, TheStreet lowered Invuity to a sell rating in a research note on Tuesday, July 19th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Invuity presently has an average rating of Buy and a consensus price target of $17.00.
Invuity (NASDAQ:IVTY) opened at 13.88 on Monday. Invuity has a one year low of $4.80 and a one year high of $15.46. The stock has a 50 day moving average price of $12.34 and a 200-day moving average price of $8.92. The firm’s market cap is $186.63 million.
Invuity (NASDAQ:IVTY) last announced its earnings results on Tuesday, July 19th. The company reported ($0.76) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.81) by $0.05. Invuity had a negative return on equity of 113.16% and a negative net margin of 156.54%. The company earned $8.20 million during the quarter, compared to analyst estimates of $8.04 million. Analysts predict that Invuity will post ($2.74) EPS for the current fiscal year.
In related news, Director Eric W. Roberts sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $13.47, for a total value of $67,350.00. Following the transaction, the director now owns 69,945 shares in the company, valued at $942,159.15. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Alex Vayser sold 12,000 shares of the firm’s stock in a transaction dated Thursday, July 21st. The shares were sold at an average price of $12.00, for a total value of $144,000.00. Following the completion of the transaction, the insider now owns 190,702 shares in the company, valued at approximately $2,288,424. The disclosure for this sale can be found here. 13.84% of the stock is owned by corporate insiders.
A number of institutional investors have recently modified their holdings of IVTY. Granite Investment Partners LLC bought a new position in shares of Invuity during the first quarter worth about $866,000. Goldman Sachs Group Inc. bought a new position in shares of Invuity during the first quarter worth about $100,000. Deerfield Management Co. boosted its position 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 worth $9,581,000 after buying an additional 248,791 shares during the period. State Street Corp boosted its position in shares of Invuity by 4.9% in the first quarter. State Street Corp now owns 36,116 shares of the company’s stock worth $259,000 after buying an additional 1,700 shares during the period. Finally, RTW Investments LLC boosted its position in shares of Invuity by 4.9% in the first quarter. RTW Investments LLC now owns 212,808 shares of the company’s stock worth $1,536,000 after buying an additional 10,000 shares during the period. Hedge funds and other institutional investors own 48.42% of the company’s stock.
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