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.
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.