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.
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.