Trading Report: The Transenterix Inc (TRXC) Lowered to “Hold” at Zacks Investment Research

The Transenterix Inc (TRXC) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Transenterix Inc (NASDAQ:TRXC) from a buy rating to a hold rating in a research note issued to investors on Wednesday morning.

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 shares of Transenterix in a report on Tuesday. They set a buy rating and a $3.00 price target for the company.

Shares of Transenterix (NASDAQ:TRXC) traded down 5.96% on Wednesday, hitting $2.05. The stock had a trading volume of 517,438 shares. Transenterix has a one year low of $1.03 and a one year high of $6.10. The stock’s market cap is $235.75 million. The company’s 50 day moving average is $1.57 and its 200 day moving average is $1.98.

Transenterix (NASDAQ:TRXC) last announced its earnings results on Friday, August 5th. The company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.04. Equities research analysts predict that Transenterix will post ($0.59) EPS for the current fiscal year.

In other news, Director Andrea Biffi purchased 40,000 shares of the business’s 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 completion of the acquisition, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $126,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in 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 boosted its position in 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. boosted its position in 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 purchased a new position in Transenterix during the second quarter valued at about $656,000. Finally, Royal Bank of Canada boosted its position in 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.

About Transenterix

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.

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