TransEnterix (TRXC) Shares Gap Up to $4.87

Share on StockTwits

TransEnterix, Inc. (NYSEAMERICAN:TRXC)’s share price gapped up before the market opened on Friday . The stock had previously closed at $4.77, but opened at $4.87. TransEnterix shares last traded at $4.73, with a volume of 193660 shares changing hands.

Several brokerages have recently weighed in on TRXC. BTIG Research downgraded TransEnterix from a “buy” rating to a “neutral” rating in a report on Thursday, June 28th. Zacks Investment Research upgraded TransEnterix from a “sell” rating to a “hold” rating in a report on Wednesday, August 1st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $5.50 price objective on shares of TransEnterix in a report on Thursday, July 5th.

TransEnterix (NYSEAMERICAN:TRXC) last released its quarterly earnings data on Tuesday, August 7th. The medical instruments supplier reported ($0.06) 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 company had revenue of $6.39 million during the quarter, compared to the consensus estimate of $6.20 million.

In other TransEnterix news, CFO Joseph P. Slattery sold 124,398 shares of the firm’s stock in a transaction dated Thursday, July 19th. The stock was sold at an average price of $5.00, for a total value of $621,990.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William N. Starling, Jr. sold 1,700,000 shares of the firm’s stock in a transaction dated Tuesday, September 25th. The stock was sold at an average price of $6.40, for a total value of $10,880,000.00. Following the completion of the transaction, the director now directly owns 66,987 shares in the company, valued at $428,716.80. The disclosure for this sale can be found here. Insiders sold a total of 3,033,622 shares of company stock valued at $18,893,751 over the last quarter.

A number of large investors have recently made changes to their positions in TRXC. JPMorgan Chase & Co. boosted its position in TransEnterix by 2.1% in the first quarter. JPMorgan Chase & Co. now owns 7,278,527 shares of the medical instruments supplier’s stock worth $12,374,000 after purchasing an additional 151,921 shares during the last quarter. UBS Group AG lifted its position in shares of TransEnterix by 1,658.3% during the 1st 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 position in shares of TransEnterix during the 1st quarter valued at about $164,000. Element Capital Management LLC purchased a new position in shares of TransEnterix during the 1st quarter valued at about $344,000. Finally, Millennium Management LLC lifted its position in shares of TransEnterix by 787.5% during the 1st 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.

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.

Featured Story: Penny Stocks, Risk and Reward Factors

Receive News & Ratings for TransEnterix Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TransEnterix and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply