Zacks Investment Research Lowers Transenterix (TRXC) to Sell

Zacks Investment Research lowered shares of Transenterix (NYSEAMERICAN:TRXC) from a hold rating to a sell rating in a research note released on Thursday.

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. “

TRXC has been the subject of a number of other reports. Ladenburg Thalmann Financial Services set a $5.00 price target on Transenterix and gave the stock a buy rating in a report on Friday, October 20th. BTIG Research reaffirmed a hold rating on shares of Transenterix in a report on Monday, December 18th. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $4.00 price target (up from $3.75) on shares of Transenterix in a report on Monday, October 30th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Transenterix presently has a consensus rating of Hold and an average price target of $2.61.

Shares of Transenterix (NYSEAMERICAN:TRXC) remained flat at $$1.99 during midday trading on Thursday. The stock had a trading volume of 1,960,000 shares, compared to its average volume of 2,800,000. The company has a market capitalization of $396.49, a PE ratio of -3.21 and a beta of 2.02. Transenterix has a 1-year low of $0.45 and a 1-year high of $5.00.

In other news, CFO Joseph P. Slattery sold 333,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $2.93, for a total value of $975,690.00. Following the completion of the sale, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at approximately $1,292,053.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joseph P. Slattery sold 529,609 shares of the business’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $2.80, for a total value of $1,482,905.20. Following the completion of the sale, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at $1,234,727.20. The disclosure for this sale can be found here. Insiders sold a total of 1,462,609 shares of company stock valued at $4,666,595 over the last three months.

A hedge fund recently raised its stake in Transenterix stock. Ladenburg Thalmann Financial Services Inc. increased its position in Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 79,150 shares of the medical instruments supplier’s stock after purchasing an additional 37,000 shares during the period. Ladenburg Thalmann Financial Services Inc. owned 0.05% of Transenterix worth $113,000 at the end of the most recent quarter.

COPYRIGHT VIOLATION NOTICE: This report was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this report on another publication, it was illegally copied and republished in violation of U.S. and international trademark and copyright laws. The original version of this report can be accessed at https://www.com-unik.info/2018/01/13/zacks-investment-research-lowers-transenterix-trxc-to-sell.html.

About Transenterix

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.

Get a free copy of the Zacks research report on Transenterix (TRXC)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Transenterix? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Transenterix and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit