TransEnterix (NYSEAMERICAN:TRXC) Lowered to Sell at Zacks Investment Research

Zacks Investment Research cut shares of TransEnterix (NYSEAMERICAN:TRXC) from a hold rating to a sell rating in a report released on Saturday morning, 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. “

Several other equities analysts have also issued reports on TRXC. Piper Jaffray Companies decreased their price target on Pure Storage from $25.00 to $20.00 and set an overweight rating on the stock in a research note on Wednesday, May 22nd. BTIG Research set a $27.00 price target on Invitation Homes and gave the company a buy rating in a research note on Tuesday, May 14th.

Shares of NYSEAMERICAN TRXC opened at $1.41 on Friday. TransEnterix has a fifty-two week low of $1.03 and a fifty-two week high of $6.98.

TransEnterix (NYSEAMERICAN:TRXC) last announced its quarterly earnings data on Thursday, May 9th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.09). The company had revenue of $2.18 million during the quarter, compared to analyst estimates of $4.50 million.

Several institutional investors and hedge funds have recently modified their holdings of the company. Legal & General Group Plc grew its position in TransEnterix by 16.6% during the 4th quarter. Legal & General Group Plc now owns 28,558 shares of the medical instruments supplier’s stock worth $64,000 after acquiring an additional 4,059 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in TransEnterix by 13.2% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 65,706 shares of the medical instruments supplier’s stock worth $156,000 after acquiring an additional 7,644 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in TransEnterix by 45.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 32,000 shares of the medical instruments supplier’s stock worth $76,000 after acquiring an additional 10,000 shares during the last quarter. Sheets Smith Wealth Management grew its position in TransEnterix by 100.0% during the 1st quarter. Sheets Smith Wealth Management now owns 20,000 shares of the medical instruments supplier’s stock worth $48,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Northern Trust Corp grew its position in TransEnterix by 0.6% during the 4th quarter. Northern Trust Corp now owns 1,968,519 shares of the medical instruments supplier’s stock worth $4,448,000 after acquiring an additional 10,930 shares during the last quarter.

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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