Invuity (IVTY) Given Buy Rating at Northland Securities

Northland Securities reiterated their buy rating on shares of Invuity (NASDAQ:IVTY) in a research note published on Wednesday. The firm currently has a $6.00 target price on the medical instruments supplier’s stock.

“We would be remiss in not expressing our disappointment, and are lowering our PT to $6.”,” Northland Securities’ analyst commented.

A number of other analysts have also recently weighed in on IVTY. Piper Jaffray Companies reiterated a buy rating and set a $12.00 price target on shares of Invuity in a research report on Friday, November 10th. Zacks Investment Research cut Invuity from a hold rating to a sell rating in a research report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. Invuity has a consensus rating of Buy and a consensus price target of $8.50.

Shares of Invuity (IVTY) opened at $3.85 on Wednesday. Invuity has a one year low of $3.75 and a one year high of $9.70. The company has a quick ratio of 2.47, a current ratio of 2.90 and a debt-to-equity ratio of 5.39.

Invuity (NASDAQ:IVTY) last announced its quarterly earnings data on Tuesday, February 13th. The medical instruments supplier reported ($0.43) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.50) by $0.07. Invuity had a negative return on equity of 279.04% and a negative net margin of 100.75%. The firm had revenue of $11.23 million for the quarter, compared to analysts’ expectations of $11.84 million. analysts predict that Invuity will post -1.91 earnings per share for the current year.

Several institutional investors have recently made changes to their positions in IVTY. Discovery Group I LLC raised its position in shares of Invuity by 9,587.9% during the 3rd quarter. Discovery Group I LLC now owns 1,258,849 shares of the medical instruments supplier’s stock worth $11,204,000 after purchasing an additional 1,245,855 shares during the period. Lyon Street Capital LLC increased its position in Invuity by 15.5% in the 3rd quarter. Lyon Street Capital LLC now owns 883,355 shares of the medical instruments supplier’s stock valued at $7,862,000 after acquiring an additional 118,825 shares during the period. Millennium Management LLC increased its position in Invuity by 26.5% in the 4th quarter. Millennium Management LLC now owns 418,116 shares of the medical instruments supplier’s stock valued at $2,592,000 after acquiring an additional 87,587 shares during the period. Wells Fargo & Company MN increased its position in Invuity by 987.0% in the 4th quarter. Wells Fargo & Company MN now owns 64,198 shares of the medical instruments supplier’s stock valued at $398,000 after acquiring an additional 58,292 shares during the period. Finally, Vanguard Group Inc. increased its position in Invuity by 16.3% in the 2nd quarter. Vanguard Group Inc. now owns 402,680 shares of the medical instruments supplier’s stock valued at $2,919,000 after acquiring an additional 56,527 shares during the period. Institutional investors and hedge funds own 67.57% of the company’s stock.

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Invuity Company Profile

Invuity, Inc, a medical technology company, develops various surgical devices to address various surgical procedures in the United States. The company integrates its intelligent photonics technology platform into its single-use and reusable advanced surgical devices to address various critical intracavity illumination and visualization challenges.

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