Transenterix (NYSEAMERICAN:TRXC) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Transenterix (NYSEAMERICAN:TRXC) from a hold rating to a sell rating in a research note published on Thursday, January 11th.

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. “

A number of other analysts have also recently weighed in on TRXC. Stifel Nicolaus increased their target price on shares of Transenterix from $3.75 to $4.00 and gave the stock a buy rating in a report on Tuesday, October 31st. BTIG Research reissued a hold rating on shares of Transenterix in a report on Monday, December 18th. Finally, Ladenburg Thalmann Financial Services set a $5.00 price objective on shares of Transenterix and gave the stock a buy rating in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Transenterix presently has a consensus rating of Hold and a consensus price target of $2.61.

Shares of Transenterix (TRXC) traded up $0.13 during mid-day trading on Thursday, reaching $2.00. 3,240,000 shares of the company traded hands, compared to its average volume of 2,580,000. Transenterix has a 1 year low of $0.45 and a 1 year high of $5.00. The firm has a market capitalization of $398.48, a price-to-earnings ratio of -3.23 and a beta of 2.02.

Transenterix (NYSEAMERICAN:TRXC) last released its quarterly earnings data on Thursday, November 9th. The medical instruments supplier reported ($0.09) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.09). Transenterix had a negative net margin of 21,045.36% and a negative return on equity of 137.69%.

In other news, CFO Joseph P. Slattery sold 529,609 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $2.80, for a total transaction of $1,482,905.20. Following the completion of the transaction, the chief financial officer now owns 440,974 shares in the company, valued at approximately $1,234,727.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Joseph P. Slattery sold 333,000 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $2.93, for a total transaction of $975,690.00. Following the completion of the transaction, the chief financial officer now owns 440,974 shares of the company’s stock, valued at $1,292,053.82. The disclosure for this sale can be found here.

A hedge fund recently raised its stake in Transenterix stock. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Transenterix Inc (NYSEAMERICAN:TRXC) by 87.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 79,150 shares of the medical instruments supplier’s stock after purchasing an additional 37,000 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned approximately 0.05% of Transenterix worth $113,000 as of its most recent filing with the SEC.

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About Transenterix

TransEnterix, Inc is a medical device company. The Company is focused on the development and commercialization of ALF-X Surgical Robotic System (the ALF-X System), and SurgiBot System. The Company’s ALF-X System is a multi-port robotic surgery system, which allows multiple robotic arms to control instruments and a camera.

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