TransEnterix (TRXC) Upgraded by Zacks Investment Research to Hold

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Zacks Investment Research upgraded shares of TransEnterix (NYSEAMERICAN:TRXC) from a sell rating to a hold rating in a report published on Friday.

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. “

Other analysts have also issued reports about the stock. LADENBURG THALM/SH SH raised shares of TransEnterix from a neutral rating to a buy rating and set a $5.00 price objective on the stock in a research report on Friday. BTIG Research reissued a hold rating on shares of TransEnterix in a research report on Tuesday, September 25th.

Shares of NYSEAMERICAN:TRXC traded down $0.20 during trading on Friday, reaching $3.22. The company’s stock had a trading volume of 6,759,706 shares, compared to its average volume of 5,110,673. TransEnterix has a 12 month low of $1.27 and a 12 month high of $6.98.

TransEnterix (NYSEAMERICAN:TRXC) last announced its quarterly earnings results on Thursday, November 8th. The medical instruments supplier reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.07) by $0.01. The business had revenue of $5.40 million during the quarter, compared to the consensus estimate of $5.40 million. The firm’s revenue for the quarter was up 2850.8% on a year-over-year basis.

In related news, Director William N. Starling, Jr. sold 1,700,000 shares of the stock in a transaction dated Tuesday, September 25th. The shares were sold at an average price of $6.40, for a total value of $10,880,000.00. Following the sale, the director now directly owns 66,987 shares of the company’s stock, valued at approximately $428,716.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William N. Starling, Jr. sold 1,139,649 shares of the stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $6.13, for a total transaction of $6,986,048.37. Following the completion of the sale, the director now directly owns 66,987 shares in the company, valued at $410,630.31. The disclosure for this sale can be found here. Insiders sold a total of 2,909,224 shares of company stock worth $18,271,761 over the last three months.

Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new position in shares of TransEnterix during the second quarter worth approximately $101,000. Amalgamated Bank purchased a new position in shares of TransEnterix during the second quarter worth approximately $104,000. Ardsley Advisory Partners purchased a new position in shares of TransEnterix during the second quarter worth approximately $109,000. Steward Partners Investment Advisory LLC purchased a new position in shares of TransEnterix during the third quarter worth approximately $119,000. Finally, Global Financial Private Capital LLC purchased a new position in shares of TransEnterix during the third quarter worth approximately $127,000.

TransEnterix Company Profile

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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