TransEnterix (NYSEAMERICAN:TRXC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday, 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 raised shares of TransEnterix from a “neutral” rating to a “buy” rating and set a $3.00 price objective for the company in a report on Tuesday.

TRXC stock traded up $0.05 during trading hours on Wednesday, hitting $1.42. The company’s stock had a trading volume of 86,127 shares, compared to its average volume of 2,730,564. TransEnterix has a 12 month low of $1.03 and a 12 month high of $6.98.

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

In related news, CFO Joseph P. Slattery sold 88,871 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $3.25, for a total transaction of $288,830.75. Following the completion of the sale, the chief financial officer now directly owns 44,929 shares of the company’s stock, valued at approximately $146,019.25. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Several hedge funds and other institutional investors have recently bought and sold shares of TRXC. Bank of New York Mellon Corp raised its stake in TransEnterix by 8.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 543,078 shares of the medical instruments supplier’s stock valued at $3,149,000 after purchasing an additional 40,448 shares during the last quarter. MetLife Investment Advisors LLC raised its stake in TransEnterix by 51.3% during the 3rd quarter. MetLife Investment Advisors LLC now owns 114,956 shares of the medical instruments supplier’s stock valued at $667,000 after purchasing an additional 38,953 shares during the last quarter. Morgan Stanley raised its stake in TransEnterix by 32.8% during the 3rd quarter. Morgan Stanley now owns 1,014,078 shares of the medical instruments supplier’s stock valued at $5,881,000 after purchasing an additional 250,199 shares during the last quarter. Vanguard Group Inc. raised its stake in TransEnterix by 13.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,455,056 shares of the medical instruments supplier’s stock valued at $49,039,000 after purchasing an additional 1,003,091 shares during the last quarter. Finally, Vanguard Group Inc raised its stake in TransEnterix by 13.5% during the 3rd quarter. Vanguard Group Inc now owns 8,455,056 shares of the medical instruments supplier’s stock valued at $49,039,000 after purchasing an additional 1,003,091 shares during the last quarter.

About TransEnterix

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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