TransEnterix (TRXC) Downgraded by Zacks Investment Research to “Sell”

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Zacks Investment Research downgraded shares of TransEnterix (NYSEAMERICAN:TRXC) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

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. “

Separately, BTIG Research upgraded shares of TransEnterix from a neutral rating to a buy rating and set a $3.00 target price for the company in a report on Tuesday.

Shares of TransEnterix stock traded down $0.03 during trading on Wednesday, hitting $1.38. The stock had a trading volume of 19,064 shares, compared to its average volume of 2,751,060. TransEnterix has a 12 month low of $1.03 and a 12 month high of $6.98.

TransEnterix (NYSEAMERICAN:TRXC) last released its earnings results on Thursday, May 9th. The medical instruments supplier reported ($0.09) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.09). The firm had revenue of $2.18 million during the quarter, compared to the consensus estimate of $4.50 million.

In other news, CFO Joseph P. Slattery sold 88,871 shares of the firm’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $3.25, for a total value of $288,830.75. Following the completion of the sale, the chief financial officer now owns 44,929 shares in the company, valued at approximately $146,019.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in TransEnterix during the 4th quarter valued at about $29,000. Hsbc Holdings PLC bought a new stake in TransEnterix during the 1st quarter valued at about $29,000. Cetera Advisors LLC purchased a new position in TransEnterix during the 4th quarter valued at about $34,000. Whitnell & Co. purchased a new position in TransEnterix during the 1st quarter valued at about $35,000. Finally, BlueCrest Capital Management Ltd purchased a new position in TransEnterix during the 1st quarter valued at about $44,000.

TransEnterix Company Profile

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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