Invuity Inc. (NASDAQ:IVTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
IVTY has been the topic of several other research reports. Lake Street Capital started coverage on Invuity in a report on Monday, September 19th. They issued a “buy” rating and a $18.00 price target on the stock. Craig Hallum started coverage on Invuity in a report on Monday, August 29th. They issued a “buy” rating and a $25.00 price target on the stock. TheStreet cut Invuity to a “sell” rating in a report on Tuesday, July 19th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $12.00 price target on shares of Invuity in a report on Wednesday, July 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $17.00.
Shares of Invuity (NASDAQ:IVTY) traded down 0.72% during mid-day trading on Wednesday, reaching $6.90. The company had a trading volume of 55,986 shares. The stock has a 50 day moving average price of $9.55 and a 200 day moving average price of $9.96. Invuity has a 12-month low of $4.50 and a 12-month high of $14.25. The firm’s market capitalization is $116.82 million.
In related news, insider Alex Vayser sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $14.00, for a total transaction of $98,000.00. Following the transaction, the insider now directly owns 174,702 shares of the company’s stock, valued at approximately $2,445,828. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Eric W. Roberts sold 26,839 shares of the firm’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $14.00, for a total value of $375,746.00. Following the transaction, the director now directly owns 69,945 shares in the company, valued at $979,230. The disclosure for this sale can be found here. Corporate insiders own 13.84% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Invuity by 4.7% in the second quarter. Vanguard Group Inc. now owns 115,244 shares of the company’s stock worth $1,098,000 after buying an additional 5,141 shares in the last quarter. RTW Investments LLC boosted its position in shares of Invuity by 6.2% in the second quarter. RTW Investments LLC now owns 226,042 shares of the company’s stock worth $2,154,000 after buying an additional 13,234 shares in the last quarter. Paloma Partners Management Co purchased a new position in shares of Invuity during the second quarter worth $179,000. Spark Investment Management LLC purchased a new position in shares of Invuity during the third quarter worth $323,000. Finally, Northern Trust Corp purchased a new position in shares of Invuity during the third quarter worth $567,000. 48.36% of the stock is currently owned by institutional investors.