Transenterix Inc (NASDAQ:TRXC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.
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 assumed coverage on shares of Transenterix in a research report on Friday, October 7th. They set a “buy” rating and a $3.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $3.13.
Transenterix (NASDAQ:TRXC) opened at 1.65 on Friday. The firm has a 50 day moving average of $1.66 and a 200 day moving average of $1.54. Transenterix has a 1-year low of $1.03 and a 1-year high of $6.10. The firm’s market cap is $189.85 million.
Transenterix (NASDAQ:TRXC) last released its quarterly earnings results on Wednesday, November 9th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of ($0.10) by $0.01. The firm had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.80 million. On average, equities research analysts expect that Transenterix will post ($0.60) EPS for the current year.
A number of institutional investors have recently bought and sold shares of TRXC. BlackRock Investment Management LLC increased its position in Transenterix by 32.9% in the second quarter. BlackRock Investment Management LLC now owns 238,240 shares of the company’s stock worth $291,000 after buying an additional 58,984 shares in the last quarter. BlackRock Fund Advisors increased 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 worth $2,220,000 after buying an additional 626,019 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased 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 worth $1,253,000 after buying an additional 234,681 shares in the last quarter. Teachers Advisors Inc. increased its position in Transenterix by 19.4% in the second quarter. Teachers Advisors Inc. now owns 106,250 shares of the company’s stock worth $130,000 after buying an additional 17,271 shares in the last quarter. Finally, Advisor Group Inc. bought a new position in Transenterix during the second quarter worth $301,000.
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.