Transenterix Inc (TRXC) Downgraded by Zacks Investment Research
According to Zacks, “TransEnterix Inc. designs, develops and manufactures medical-devices. It offers SPIDER(R) Surgical System, a laparoscopic surgical platform that allows intra-abdominal triangulation procedures to be performed with articulating instruments through a single site. The company is primarily focused on the development and commercialization of SurgiBot, a patient-side minimally invasive surgical robotic system. TransEnterix Inc., formerly known as SafeStitch Medical, Inc., is based in United States. “
Separately, B. Riley started coverage on Transenterix in a report on Tuesday, October 11th. They set a buy rating and a $3.00 target price for the company.
Transenterix (NASDAQ:TRXC) opened at 2.04 on Wednesday. Transenterix has a 52-week low of $1.03 and a 52-week high of $6.10. The company’s 50-day moving average price is $1.60 and its 200 day moving average price is $1.96. The firm’s market capitalization is $234.60 million.
Transenterix (NASDAQ:TRXC) last announced its earnings results on Friday, August 5th. The company reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.04. Equities research analysts predict that Transenterix will post ($0.59) earnings per share for the current year.
In other Transenterix news, Director Andrea Biffi acquired 40,000 shares of Transenterix stock in a transaction that occurred on Monday, August 22nd. The stock was purchased at an average cost of $1.40 per share, with a total value of $56,000.00. Following the purchase, the director now owns 90,000 shares in the company, valued at $126,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
A number of large investors have recently made changes to their positions in TRXC. AQR Capital Management LLC increased its stake in shares of Transenterix by 2,356.8% in the second quarter. AQR Capital Management LLC now owns 2,262,310 shares of the company’s stock valued at $2,760,000 after buying an additional 2,170,226 shares in the last quarter. BlackRock Fund Advisors increased its stake in shares of Transenterix by 52.5% in the second quarter. BlackRock Fund Advisors now owns 1,819,488 shares of the company’s stock valued at $2,220,000 after buying an additional 626,019 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in shares of Transenterix by 29.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,027,284 shares of the company’s stock valued at $1,253,000 after buying an additional 234,681 shares in the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Transenterix during the second quarter valued at about $656,000. Finally, Royal Bank of Canada increased its stake in shares of Transenterix by 2.7% in the second quarter. Royal Bank of Canada now owns 446,327 shares of the company’s stock valued at $544,000 after buying an additional 11,800 shares in the last quarter.
TransEnterix, Inc is a medical device company. The Company is focused on the development and commercialization of ALF-X Surgical Robotic System (the ALF-X System), and SurgiBot System. The Company’s ALF-X System is a multi-port robotic surgery system, which allows multiple robotic arms to control instruments and a camera.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Transenterix Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Transenterix Inc and related companies with MarketBeat.com's FREE daily email newsletter.