TransEnterix (TRXC) Trading Down 5%

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Shares of TransEnterix, Inc. (NYSEAMERICAN:TRXC) were down 5% on Wednesday . The stock traded as low as $5.35 and last traded at $5.68. Approximately 6,357,207 shares were traded during mid-day trading, an increase of 38% from the average daily volume of 4,620,475 shares. The stock had previously closed at $5.98.

Several analysts have recently weighed in on TRXC shares. Stifel Nicolaus reissued a “buy” rating and issued a $5.50 target price on shares of TransEnterix in a report on Thursday, July 5th. BTIG Research upgraded TransEnterix from a “neutral” rating to a “buy” rating in a research report on Wednesday, May 9th. Zacks Investment Research cut TransEnterix from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Finally, LADENBURG THALM/SH SH cut TransEnterix from a “buy” rating to a “neutral” rating and boosted their price target for the company from $3.50 to $4.00 in a research report on Tuesday, May 29th.

TransEnterix (NYSEAMERICAN:TRXC) last issued its quarterly earnings results on Tuesday, August 7th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The firm had revenue of $6.39 million for 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%.

In other TransEnterix news, CFO Joseph P. Slattery sold 289,787 shares of the business’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $4.00, for a total transaction of $1,159,148.00. Following the transaction, the chief financial officer now owns 428,527 shares in the company, valued at approximately $1,714,108. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph P. Slattery sold 233,841 shares of the business’s stock in a transaction that occurred on Monday, June 25th. The stock was sold at an average price of $5.00, for a total value of $1,169,205.00. Following the transaction, the chief financial officer now owns 201,240 shares in the company, valued at approximately $1,006,200. The disclosure for this sale can be found here. Insiders sold a total of 1,759,309 shares of company stock worth $8,716,630 in the last 90 days.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legal & General Group Plc acquired a new position in TransEnterix during the 2nd quarter worth approximately $101,000. Amalgamated Bank acquired a new position in TransEnterix during the 2nd quarter worth approximately $104,000. Ardsley Advisory Partners acquired a new position in TransEnterix during the 2nd quarter worth approximately $109,000. State Board of Administration of Florida Retirement System acquired a new position in TransEnterix during the 2nd quarter worth approximately $138,000. Finally, Cozad Asset Management Inc. acquired a new position in TransEnterix during the 2nd quarter worth approximately $228,000.

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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