TransEnterix (TRXC) Trading 9.9% Higher

TransEnterix, Inc. (NYSEAMERICAN:TRXC) shares traded up 9.9% during mid-day trading on Tuesday . The stock traded as high as $3.02 and last traded at $3.01. 4,965,766 shares changed hands during mid-day trading, a decline of 3% from the average session volume of 5,110,143 shares. The stock had previously closed at $2.74.

Several research analysts have recently issued reports on the company. BTIG Research restated a “hold” rating on shares of TransEnterix in a research note on Tuesday, September 25th. Zacks Investment Research upgraded TransEnterix from a “sell” rating to a “hold” rating in a research note on Wednesday, August 1st. Finally, Stifel Nicolaus restated a “buy” rating and issued a $5.50 price objective on shares of TransEnterix in a research note on Thursday, July 5th.

TransEnterix (NYSEAMERICAN:TRXC) last announced its quarterly earnings data on Tuesday, August 7th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.06). TransEnterix had a negative return on equity of 137.69% and a negative net margin of 21,045.36%. The firm had revenue of $6.39 million during the quarter, compared to analysts’ expectations of $6.20 million.

In related news, CFO Joseph P. Slattery sold 64,651 shares of TransEnterix stock in a transaction that occurred on Tuesday, October 2nd. The stock was sold at an average price of $5.74, for a total transaction of $371,096.74. Following the completion of the transaction, the chief financial officer now directly owns 11,951 shares in the company, valued at $68,598.74. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Joseph P. Slattery sold 4,924 shares of TransEnterix stock in a transaction that occurred on Tuesday, September 25th. The shares were sold at an average price of $7.03, for a total value of $34,615.72. Following the transaction, the chief financial officer now owns 4,924 shares of the company’s stock, valued at $34,615.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,909,224 shares of company stock valued at $18,271,761.

A number of hedge funds have recently made changes to their positions in TRXC. UBS Group AG increased its position in shares of TransEnterix by 1,658.3% in the first quarter. UBS Group AG now owns 906,280 shares of the medical instruments supplier’s stock valued at $1,541,000 after buying an additional 854,737 shares in the last quarter. Barclays PLC purchased a new stake in shares of TransEnterix in the first quarter valued at approximately $164,000. Millennium Management LLC increased its position in shares of TransEnterix by 787.5% in the first quarter. Millennium Management LLC now owns 1,895,115 shares of the medical instruments supplier’s stock valued at $3,222,000 after buying an additional 1,681,583 shares in the last quarter. Royal Bank of Canada increased its position in shares of TransEnterix by 12.0% in the first quarter. Royal Bank of Canada now owns 1,161,692 shares of the medical instruments supplier’s stock valued at $1,975,000 after buying an additional 124,071 shares in the last quarter. Finally, Prospera Financial Services Inc increased its position in shares of TransEnterix by 290.9% in the second quarter. Prospera Financial Services Inc now owns 86,000 shares of the medical instruments supplier’s stock valued at $353,000 after buying an additional 64,000 shares in the last quarter.

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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