TransEnterix (NYSEAMERICAN:TRXC) Shares Gap Down to $1.01

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Shares of TransEnterix, Inc. (NYSEAMERICAN:TRXC) gapped down before the market opened on Tuesday . The stock had previously closed at $1.06, but opened at $1.01. TransEnterix shares last traded at $0.98, with a volume of 2,519,043 shares changing hands.

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

TransEnterix (NYSEAMERICAN:TRXC) last issued its earnings results on Wednesday, August 7th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). The business had revenue of $3.64 million during the quarter, compared to analysts’ expectations of $5.13 million.

A number of hedge funds and other institutional investors have recently modified their holdings of TRXC. Paloma Partners Management Co bought a new position in shares of TransEnterix in the second quarter worth $27,000. Tradewinds Capital Management LLC grew its stake in shares of TransEnterix by 1,222.2% in the second quarter. Tradewinds Capital Management LLC now owns 23,800 shares of the medical instruments supplier’s stock worth $32,000 after purchasing an additional 22,000 shares in the last quarter. Whitnell & Co. bought a new position in shares of TransEnterix in the first quarter worth $35,000. Sheets Smith Wealth Management grew its stake in shares of TransEnterix by 100.0% in the first quarter. Sheets Smith Wealth Management now owns 20,000 shares of the medical instruments supplier’s stock worth $48,000 after purchasing an additional 10,000 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of TransEnterix by 16.6% in the fourth quarter. Legal & General Group Plc now owns 28,558 shares of the medical instruments supplier’s stock worth $64,000 after purchasing an additional 4,059 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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