TransEnterix, Inc. (NYSEAMERICAN:TRXC) fell 12.9% during trading on Wednesday following a dissappointing earnings announcement. The stock traded as low as $0.25 and last traded at $0.27, 3,090,300 shares changed hands during trading. An increase of 11% from the average session volume of 2,774,130 shares. The stock had previously closed at $0.31.
The medical instruments supplier reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The business had revenue of $2.02 million during the quarter, compared to the consensus estimate of $4.68 million.
Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada downgraded shares of TransEnterix from an “outperform” rating to a “sector perform” rating and set a $1.00 price objective on the stock. in a research note on Thursday, August 8th. Zacks Investment Research downgraded shares of TransEnterix from a “hold” rating to a “sell” rating in a research note on Thursday, October 10th.
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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