Granite Investment Partners LLC Decreases Stake in Invuity, Inc. (NASDAQ:IVTY)
Granite Investment Partners LLC lowered its stake in Invuity, Inc. (NASDAQ:IVTY) by 4.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,667 shares of the medical instruments supplier’s stock after selling 12,653 shares during the period. Granite Investment Partners LLC’s holdings in Invuity were worth $1,905,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of IVTY. CAPROCK Group Inc. acquired a new stake in Invuity during the second quarter worth about $254,000. Spark Investment Management LLC acquired a new stake in Invuity during the second quarter worth about $158,000. Boston Advisors LLC boosted its stake in Invuity by 55.6% in the second quarter. Boston Advisors LLC now owns 28,280 shares of the medical instruments supplier’s stock worth $205,000 after buying an additional 10,111 shares during the period. Lyon Street Capital LLC boosted its stake in Invuity by 84.3% in the first quarter. Lyon Street Capital LLC now owns 727,032 shares of the medical instruments supplier’s stock worth $5,780,000 after buying an additional 332,593 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in Invuity during the first quarter worth about $151,000. Institutional investors and hedge funds own 69.58% of the company’s stock.
Invuity, Inc. (NASDAQ:IVTY) opened at 6.20 on Friday. The company’s 50-day moving average is $7.28 and its 200-day moving average is $7.59. Invuity, Inc. has a 12 month low of $4.50 and a 12 month high of $14.25. The company’s market cap is $105.71 million.
Invuity (NASDAQ:IVTY) last announced its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported ($0.61) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.54) by $0.07. The business had revenue of $9.77 million for the quarter, compared to analyst estimates of $10.30 million. Invuity had a negative net margin of 114.61% and a negative return on equity of 140.69%. On average, equities research analysts anticipate that Invuity, Inc. will post ($2.38) earnings per share for the current year.
A number of analysts have issued reports on IVTY shares. Stifel Nicolaus reiterated a “buy” rating and issued a $10.00 target price (up from $9.00) on shares of Invuity in a research note on Thursday, April 27th. Northland Securities reiterated an “outperform” rating and issued a $13.00 target price on shares of Invuity in a research note on Sunday, April 23rd. Zacks Investment Research cut shares of Invuity from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. Piper Jaffray Companies reiterated a “buy” rating and issued a $10.00 target price on shares of Invuity in a research note on Wednesday, July 26th. Finally, William Blair reiterated a “buy” rating on shares of Invuity in a research note on Tuesday, May 23rd. One equities research analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $15.17.
In other news, Director Eric W. Roberts acquired 6,500 shares of the stock in a transaction on Thursday, May 18th. The shares were purchased at an average price of $7.07 per share, for a total transaction of $45,955.00. Following the transaction, the director now directly owns 106,029 shares of the company’s stock, valued at $749,625.03. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Eric W. Roberts acquired 5,000 shares of the stock in a transaction on Monday, May 15th. The shares were purchased at an average price of $7.88 per share, for a total transaction of $39,400.00. Following the transaction, the director now directly owns 101,529 shares in the company, valued at $800,048.52. The disclosure for this purchase can be found here. 10.50% of the stock is owned by company insiders.
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