Zacks Investment Research Downgrades TransEnterix (TRXC) to Sell

TransEnterix (NYSEAMERICAN:TRXC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday, Zacks.com reports.

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, BTIG Research upgraded shares of TransEnterix from a “neutral” rating to a “buy” rating and set a $3.00 price target for the company in a report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. TransEnterix presently has an average rating of “Hold” and an average price target of $3.52.

NYSEAMERICAN:TRXC opened at $1.28 on Tuesday. TransEnterix has a one year low of $1.03 and a one year high of $6.98.

TransEnterix (NYSEAMERICAN:TRXC) last posted its earnings results on Thursday, May 9th. The medical instruments supplier reported ($0.09) EPS for the quarter, hitting the consensus estimate of ($0.09). The business had revenue of $2.18 million for the quarter, compared to analyst estimates of $4.50 million.

In other TransEnterix news, CFO Joseph P. Slattery sold 88,871 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $3.25, for a total transaction of $288,830.75. Following the completion of the transaction, the chief financial officer now owns 44,929 shares in the company, valued at approximately $146,019.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

A number of institutional investors have recently added to or reduced their stakes in TRXC. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in TransEnterix during the 4th quarter worth approximately $29,000. Hsbc Holdings PLC bought a new stake in shares of TransEnterix in the 1st quarter valued at $29,000. Cetera Advisors LLC bought a new stake in shares of TransEnterix in the 4th quarter valued at $34,000. Whitnell & Co. bought a new stake in shares of TransEnterix in the 1st quarter valued at $35,000. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of TransEnterix in the 1st quarter valued at $44,000.

About TransEnterix

TransEnterix, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery. The company offers Senhance System, a multi-port robotic surgery system, which allows up to four arms to control robotic instruments and a camera in Europe.

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