TransEnterix (TRXC) Trading Up 8%
TransEnterix, Inc. (NYSEAMERICAN:TRXC) was up 8% on Thursday . The stock traded as high as $5.07 and last traded at $4.87. Approximately 8,350,386 shares were traded during trading, an increase of 67% from the average daily volume of 4,985,349 shares. The stock had previously closed at $4.51.
Several brokerages have recently commented on TRXC. Zacks Investment Research cut TransEnterix from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $5.50 target price on shares of TransEnterix in a research report on Thursday, July 5th. Finally, BTIG Research reaffirmed a “hold” rating on shares of TransEnterix in a research report on Tuesday, September 25th.
TransEnterix (NYSEAMERICAN:TRXC) last issued its earnings results on Tuesday, August 7th. The medical instruments supplier reported ($0.06) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.06). The business had revenue of $6.39 million during the quarter, compared to analysts’ expectations of $6.20 million. TransEnterix had a negative return on equity of 137.69% and a negative net margin of 21,045.36%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRXC. BlackRock Inc. raised its holdings in TransEnterix by 467.9% during the second quarter. BlackRock Inc. now owns 9,870,565 shares of the medical instruments supplier’s stock valued at $43,036,000 after buying an additional 8,132,481 shares in the last quarter. Global X Management Co LLC bought a new position in TransEnterix during the second quarter valued at about $11,212,000. Millennium Management LLC raised its holdings in TransEnterix by 787.5% during the first 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. UBS Group AG raised its holdings in TransEnterix by 1,658.3% during the first 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. Finally, Eagle Asset Management Inc. raised its holdings in TransEnterix by 152.9% during the second quarter. Eagle Asset Management Inc. now owns 791,165 shares of the medical instruments supplier’s stock valued at $3,449,000 after buying an additional 478,286 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.
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