TransEnterix (NYSEAMERICAN:TRXC) Trading Down 6.2%

TransEnterix, Inc. (NYSEAMERICAN:TRXC)’s share price traded down 6.2% during mid-day trading on Monday . The stock traded as low as $1.17 and last traded at $1.22, 1,932,306 shares were traded during mid-day trading. A decline of 22% from the average session volume of 2,486,934 shares. The stock had previously closed at $1.30.

Several equities research analysts recently issued reports on the stock. Piper Jaffray Companies assumed coverage on shares of TransEnterix in a report on Wednesday, May 22nd. They issued a “neutral” rating and a $1.60 target price for the company. BTIG Research upgraded TransEnterix from a “neutral” rating to a “buy” rating and set a $3.00 price target for the company in a research note on Tuesday, May 14th. Finally, Zacks Investment Research downgraded TransEnterix from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th.

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

Hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of TransEnterix by 9.1% during the 4th quarter. BlackRock Inc. now owns 13,722,308 shares of the medical instruments supplier’s stock valued at $31,014,000 after acquiring an additional 1,146,566 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of TransEnterix by 7.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,285,135 shares of the medical instruments supplier’s stock valued at $19,719,000 after acquiring an additional 557,305 shares during the last quarter. First Trust Advisors LP boosted its position in shares of TransEnterix by 62.4% during the 2nd quarter. First Trust Advisors LP now owns 706,949 shares of the medical instruments supplier’s stock valued at $961,000 after acquiring an additional 271,502 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of TransEnterix by 36.6% during the 4th quarter. Bank of New York Mellon Corp now owns 741,871 shares of the medical instruments supplier’s stock valued at $1,677,000 after acquiring an additional 198,793 shares during the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of TransEnterix by 921.4% during the 2nd quarter. SG Americas Securities LLC now owns 212,259 shares of the medical instruments supplier’s stock valued at $289,000 after acquiring an additional 191,477 shares during the last quarter.

About TransEnterix (NYSEAMERICAN:TRXC)

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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