Invuity, Inc. (IVTY) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Invuity, Inc. (NASDAQ:IVTY) from a hold rating to a sell rating in a report published on Friday, April 14th.

According to Zacks, “Invuity, Inc. is a medical technology company. Its products include Eikon Illuminated Retractor System, Saber Yankauer, Saber Frazier, Eika Illuminated Retractor System, Breiten Illuminated Retractor System, Eipex Illuminated Retractor System, Eivector Illuminated Retractor System and Waveguide XT System. The Company sells its devices through its direct sales representatives and original equipment manufacturers of surgical systems. Invuity, Inc. is based in San Francisco, California. “

Separately, Stifel Nicolaus reissued a buy rating and issued a $9.00 price objective (up previously from $8.00) on shares of Invuity in a research note on Wednesday, February 15th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $15.43.

Shares of Invuity (NASDAQ:IVTY) traded up 6.47% during trading on Friday, reaching $7.40. 510,778 shares of the company traded hands. Invuity has a 12 month low of $4.50 and a 12 month high of $14.25. The stock’s 50 day moving average price is $8.27 and its 200-day moving average price is $7.35. The stock’s market cap is $125.61 million.

Invuity (NASDAQ:IVTY) last released its earnings results on Wednesday, April 26th. The medical instruments supplier reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.61) by $0.03. Invuity had a negative return on equity of 119.36% and a negative net margin of 140.08%. The business had revenue of $9.02 million for the quarter, compared to analyst estimates of $8.71 million. On average, equities research analysts expect that Invuity will post ($2.24) EPS for the current fiscal year.

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In other Invuity news, Director Eric W. Roberts purchased 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were acquired at an average cost of $7.88 per share, for a total transaction of $39,400.00. Following the completion of the acquisition, the director now owns 101,529 shares of the company’s stock, valued at approximately $800,048.52. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Reza Zadno sold 4,000 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $9.16, for a total value of $36,640.00. Following the completion of the sale, the director now owns 8,800 shares in the company, valued at $80,608. The disclosure for this sale can be found here. Company insiders own 13.84% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Interwest Venture Management Co. acquired a new position in Invuity during the fourth quarter valued at approximately $6,212,000. Deerfield Management Co. raised its position in Invuity by 31.8% in the fourth quarter. Deerfield Management Co. now owns 1,690,498 shares of the medical instruments supplier’s stock worth $9,720,000 after buying an additional 407,900 shares during the last quarter. Lyon Street Capital LLC acquired a new position in Invuity during the fourth quarter worth approximately $2,268,000. Venator Capital Management Ltd. acquired a new position in Invuity during the third quarter worth approximately $3,780,000. Finally, Kingdon Capital Management L.L.C. raised its position in Invuity by 55.9% in the fourth quarter. Kingdon Capital Management L.L.C. now owns 723,432 shares of the medical instruments supplier’s stock worth $4,160,000 after buying an additional 259,282 shares during the last quarter. Hedge funds and other institutional investors own 66.48% of the company’s stock.

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