Invuity Inc (IVTY) Short Interest Down 76.6% in September

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Invuity Inc (NASDAQ:IVTY) was the recipient of a significant decrease in short interest in September. As of September 28th, there was short interest totalling 157,848 shares, a decrease of 76.6% from the September 14th total of 674,048 shares. Based on an average trading volume of 452,141 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.8% of the company’s stock are short sold.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Cannell Capital LLC boosted its position in Invuity by 36.2% in the second quarter. Cannell Capital LLC now owns 1,498,034 shares of the medical instruments supplier’s stock valued at $5,842,000 after buying an additional 398,034 shares during the last quarter. Millennium Management LLC boosted its position in Invuity by 30.1% in the second quarter. Millennium Management LLC now owns 668,280 shares of the medical instruments supplier’s stock valued at $2,606,000 after buying an additional 154,614 shares during the last quarter. Perkins Capital Management Inc. boosted its position in Invuity by 42.8% in the second quarter. Perkins Capital Management Inc. now owns 311,450 shares of the medical instruments supplier’s stock valued at $1,215,000 after buying an additional 93,400 shares during the last quarter. Royce & Associates LP boosted its position in Invuity by 27.1% in the second quarter. Royce & Associates LP now owns 166,480 shares of the medical instruments supplier’s stock valued at $649,000 after buying an additional 35,500 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS boosted its position in Invuity by 38.1% in the second quarter. Kornitzer Capital Management Inc. KS now owns 103,600 shares of the medical instruments supplier’s stock valued at $404,000 after buying an additional 28,600 shares during the last quarter. Hedge funds and other institutional investors own 59.95% of the company’s stock.

Several research firms have recently issued reports on IVTY. Zacks Investment Research upgraded shares of Invuity from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Thursday, July 5th. Piper Jaffray Companies downgraded shares of Invuity from an “overweight” rating to a “neutral” rating in a report on Tuesday, September 11th. William Blair downgraded shares of Invuity from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 11th. ValuEngine upgraded shares of Invuity from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, Northland Securities downgraded shares of Invuity from an “outperform” rating to a “market perform” rating in a report on Monday, September 17th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Invuity currently has a consensus rating of “Hold” and a consensus target price of $6.81.

IVTY opened at $7.39 on Friday. Invuity has a 52-week low of $2.35 and a 52-week high of $9.55. The company has a debt-to-equity ratio of 10.57, a quick ratio of 1.69 and a current ratio of 2.13. The stock has a market cap of $178.15 million, a PE ratio of -3.36 and a beta of 0.01.

Invuity (NASDAQ:IVTY) last posted its quarterly earnings data on Thursday, August 2nd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.47) by $0.10. The firm had revenue of $10.50 million for the quarter, compared to the consensus estimate of $10.73 million. Invuity had a negative net margin of 89.29% and a negative return on equity of 724.87%. On average, analysts anticipate that Invuity will post -1.41 earnings per share for the current fiscal year.

Invuity Company Profile

Invuity, Inc, a medical technology company, develops and markets surgical devices in the United States and Asia. The company through its intelligent photonics technology platform develops single-use and reusable illuminated surgical devices, which provide surgeons with illumination and direct visualization of surgical cavities.

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