TransEnterix (TRXC) Shares Down 4.7%

Shares of TransEnterix, Inc. (NYSEAMERICAN:TRXC) dropped 4.7% during mid-day trading on Thursday . The company traded as low as $1.17 and last traded at $1.22. Approximately 45,603 shares traded hands during trading, a decline of 98% from the average daily volume of 2,689,882 shares. The stock had previously closed at $1.28.

A number of research firms recently weighed in on TRXC. BTIG Research raised shares of TransEnterix from a “neutral” rating to a “buy” rating and set a $3.00 price objective for the company in a research note on Tuesday, May 14th. Piper Jaffray Companies began coverage on shares of TransEnterix in a research note on Wednesday. They issued a “neutral” rating and a $1.60 price objective for the company. Finally, Zacks Investment Research lowered shares of TransEnterix from a “hold” rating to a “sell” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $3.52.

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

In other TransEnterix news, CFO Joseph P. Slattery sold 88,871 shares of the business’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $3.25, for a total value of $288,830.75. Following the completion of the transaction, the chief financial officer now directly owns 44,929 shares in the company, valued at $146,019.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in shares of TransEnterix by 9.1% during the fourth 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 in the last quarter. Vanguard Group Inc. increased its holdings in shares of TransEnterix by 13.5% during the third quarter. Vanguard Group Inc. now owns 8,455,056 shares of the medical instruments supplier’s stock valued at $49,039,000 after acquiring an additional 1,003,091 shares in the last quarter. Vanguard Group Inc increased its holdings in shares of TransEnterix by 13.5% during the third quarter. Vanguard Group Inc now owns 8,455,056 shares of the medical instruments supplier’s stock valued at $49,039,000 after acquiring an additional 1,003,091 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of TransEnterix by 7.2% during the first 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 in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of TransEnterix by 13.7% during the first quarter. Geode Capital Management LLC now owns 2,072,060 shares of the medical instruments supplier’s stock valued at $4,931,000 after acquiring an additional 250,261 shares in the last quarter.

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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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