Transenterix (TRXC) Stock Rating Upgraded by Zacks Investment Research

Transenterix (NYSEAMERICAN:TRXC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

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. “

A number of other analysts have also recently commented on the stock. BTIG Research reiterated a “hold” rating on shares of Transenterix in a research note on Monday, December 18th. Stifel Nicolaus increased their price target on shares of Transenterix from $3.75 to $4.00 and gave the company a “buy” rating in a research note on Tuesday, October 31st. Finally, Ladenburg Thalmann Financial Services set a $5.00 price target on shares of Transenterix and gave the company a “buy” rating in a research note on Friday, October 20th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $2.61.

Shares of Transenterix (NYSEAMERICAN TRXC) traded down $0.03 on Tuesday, reaching $1.97. 2,463,300 shares of the company traded hands, compared to its average volume of 2,276,014. Transenterix has a fifty-two week low of $0.45 and a fifty-two week high of $5.00. The firm has a market capitalization of $398.48, a PE ratio of -3.18 and a beta of 2.02.

Transenterix (NYSEAMERICAN:TRXC) last announced its quarterly earnings results on Thursday, November 9th. The medical instruments supplier reported ($0.09) EPS for the quarter, meeting analysts’ consensus estimates of ($0.09). Transenterix had a negative net margin of 21,045.36% and a negative return on equity of 137.69%.

In other news, CFO Joseph P. Slattery sold 333,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $2.93, for a total transaction of $975,690.00. Following the completion of the sale, the chief financial officer now owns 440,974 shares in the company, valued at approximately $1,292,053.82. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Joseph P. Slattery sold 529,609 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now 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.

A hedge fund recently raised its stake in Transenterix stock. Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,150 shares of the medical instruments supplier’s stock after acquiring an additional 37,000 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.05% of Transenterix worth $113,000 as of its most recent filing with the SEC.

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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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