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

Today, Transenterix Inc (TRXC) Raised to “Hold” at The Zacks Investment Research

Zacks Investment Research upgraded shares of Transenterix Inc (NASDAQ:TRXC) from a sell rating to a hold rating in a report published on Saturday 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 Transenterix in a research report on Friday, October 7th. They set a buy rating and a $3.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Transenterix presently has a consensus rating of Hold and a consensus price target of $3.13.

Transenterix (NASDAQ:TRXC) opened at 1.65 on Friday. The stock’s market cap is $189.85 million. Transenterix has a 52 week low of $1.03 and a 52 week high of $6.10. The stock’s 50 day moving average price is $1.66 and its 200 day moving average price is $1.54.

Transenterix (NASDAQ:TRXC) last issued its quarterly earnings results on Wednesday, November 9th. The company reported ($0.11) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The company earned $1.50 million during the quarter, compared to analysts’ expectations of $1.80 million. On average, analysts forecast that Transenterix will post ($0.60) earnings per share for the current year.

Hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC boosted 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 during the last quarter. BlackRock Fund Advisors boosted 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 during the last quarter. A.R.T. Advisors LLC bought a new stake in shares of Transenterix during the second quarter valued at about $656,000. Advisor Group Inc. bought a new stake in shares of Transenterix during the second quarter valued at about $301,000. Finally, BlackRock Institutional Trust Company N.A. boosted 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 during 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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