TransEnterix (NYSEAMERICAN:TRXC) Shares Down 5.8%

TransEnterix, Inc. (NYSEAMERICAN:TRXC) dropped 5.8% during trading on Wednesday . The company traded as low as $0.95 and last traded at $0.98, approximately 4,070,129 shares traded hands during mid-day trading. An increase of 58% from the average daily volume of 2,574,701 shares. The stock had previously closed at $1.04.

A number of research analysts have issued reports on the company. Piper Jaffray Companies assumed coverage on TransEnterix in a research report on Wednesday, May 22nd. They issued a “neutral” rating and a $1.60 target price on the stock. Royal Bank of Canada cut TransEnterix from an “outperform” rating to a “sector perform” rating and set a $1.00 target price on the stock. in a research report on Thursday, August 8th. BTIG Research upgraded TransEnterix from a “neutral” rating to a “buy” rating and set a $3.00 target price on the stock in a research report on Tuesday, May 14th. Finally, Zacks Investment Research cut TransEnterix from a “hold” rating to a “sell” rating in a research report on Saturday, July 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $2.62.

TransEnterix (NYSEAMERICAN:TRXC) last posted its quarterly earnings data on Wednesday, August 7th. The medical instruments supplier reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). The company had revenue of $3.64 million during the quarter, compared to the consensus estimate of $5.13 million.

A number of institutional investors and hedge funds have recently modified their holdings of TRXC. Morgan Stanley increased its holdings in shares of TransEnterix by 225.2% during the second quarter. Morgan Stanley now owns 1,448,957 shares of the medical instruments supplier’s stock valued at $1,970,000 after acquiring an additional 1,003,339 shares in the last quarter. Paloma Partners Management Co bought a new stake in shares of TransEnterix during the second quarter valued at approximately $27,000. Vanguard Group Inc. increased its holdings in shares of TransEnterix by 12.0% during the second quarter. Vanguard Group Inc. now owns 9,231,406 shares of the medical instruments supplier’s stock valued at $12,554,000 after acquiring an additional 991,120 shares in the last quarter. Prospera Financial Services Inc bought a new stake in shares of TransEnterix during the second quarter valued at approximately $195,000. Finally, A.R.T. Advisors LLC bought a new stake in shares of TransEnterix during the second quarter valued at approximately $108,000.

TransEnterix Company Profile (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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