Transenterix (TRXC) Cut to Sell at Zacks Investment Research

Transenterix (NYSEAMERICAN:TRXC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report 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. “

Several other equities research analysts have also commented on TRXC. Ladenburg Thalmann Financial Services set a $5.00 price objective on Transenterix and gave the stock a “buy” rating in a research note on Friday, October 20th. Stifel Nicolaus restated a “buy” rating and issued a $4.00 price objective (up from $3.75) on shares of Transenterix in a research note on Monday, October 30th. Finally, BTIG Research restated a “hold” rating on shares of Transenterix in a research note on Monday, December 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. Transenterix presently has an average rating of “Hold” and an average target price of $2.61.

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

In related news, insider Todd Pope sold 600,000 shares of the company’s stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $3.68, for a total value of $2,208,000.00. Following the completion of the transaction, the insider now owns 462,644 shares of the company’s stock, valued at approximately $1,702,529.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Joseph P. Slattery sold 529,609 shares of the company’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $2.80, for a total transaction of $1,482,905.20. Following the completion of the transaction, the chief financial officer now directly owns 440,974 shares of the company’s stock, valued at approximately $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 90 days.

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 13F filing with the SEC. The firm owned 79,150 shares of the medical instruments supplier’s stock after buying an additional 37,000 shares during the period. Ladenburg Thalmann Financial Services Inc. owned about 0.05% of Transenterix worth $113,000 at the end of the most recent quarter.

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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.

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