TransEnterix (NYSEAMERICAN:TRXC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday, Zacks.com reports. The firm presently has a $0.25 price objective on the medical instruments supplier’s stock. Zacks Investment Research‘s price objective suggests a potential downside of 4.25% from the company’s previous close.
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. “
Separately, Royal Bank of Canada lowered shares of TransEnterix from an “outperform” rating to a “sector perform” rating and set a $1.00 price target on the stock. in a research report on Thursday, August 8th.
TransEnterix (NYSEAMERICAN:TRXC) last issued its earnings results on Tuesday, November 12th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business had revenue of $2.02 million for the quarter, compared to the consensus estimate of $4.68 million.
A number of hedge funds and other institutional investors have recently made changes to their positions in TRXC. Nuveen Asset Management LLC acquired a new stake in TransEnterix during the second quarter worth approximately $2,136,000. Morgan Stanley boosted its position in TransEnterix by 225.2% during the second quarter. Morgan Stanley now owns 1,448,957 shares of the medical instruments supplier’s stock worth $1,970,000 after acquiring an additional 1,003,339 shares during the last quarter. Vanguard Group Inc. boosted its position in TransEnterix by 12.0% during the second quarter. Vanguard Group Inc. now owns 9,231,406 shares of the medical instruments supplier’s stock worth $12,554,000 after acquiring an additional 991,120 shares during the last quarter. First Trust Advisors LP boosted its position in TransEnterix by 89.1% during the third quarter. First Trust Advisors LP now owns 1,336,607 shares of the medical instruments supplier’s stock worth $828,000 after acquiring an additional 629,658 shares during the last quarter. Finally, Alps Advisors Inc. boosted its position in TransEnterix by 129.6% during the second quarter. Alps Advisors Inc. now owns 491,900 shares of the medical instruments supplier’s stock worth $669,000 after acquiring an additional 277,678 shares during the last quarter.
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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