Transenterix Inc (NASDAQ:TRXC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a 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 started coverage on Transenterix in a research report on Thursday, October 6th. 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 has a consensus rating of “Hold” and an average target price of $3.13.
Transenterix (NASDAQ:TRXC) opened at 1.65 on Friday. The stock has a 50 day moving average price of $1.66 and a 200 day moving average price of $1.54. The firm’s market capitalization is $189.85 million. Transenterix has a 1-year low of $1.03 and a 1-year high of $6.10.
Transenterix (NASDAQ:TRXC) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by $0.01. The firm earned $1.50 million during the quarter, compared to the consensus estimate of $1.80 million. Analysts predict that Transenterix will post ($0.60) EPS for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of TRXC. BlackRock Investment Management LLC raised 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 valued at $291,000 after buying an additional 58,984 shares during the last quarter. BlackRock Fund Advisors raised 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 during the last quarter. BlackRock Institutional Trust Company N.A. raised 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 during the last quarter. Teachers Advisors Inc. raised its position in Transenterix by 19.4% in the second quarter. Teachers Advisors Inc. now owns 106,250 shares of the company’s stock valued at $130,000 after buying an additional 17,271 shares during the last quarter. Finally, Advisor Group Inc. acquired a new position in Transenterix during the second quarter valued at $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.