Zacks Investment Research cut shares of Invuity, Inc. (NASDAQ:IVTY) from a hold rating to a sell rating in a report issued on Thursday.

According to Zacks, “Invuity, Inc. is a medical technology company. Its products include Eikon Illuminated Retractor System, Saber Yankauer, Saber Frazier, Eika Illuminated Retractor System, Breiten Illuminated Retractor System, Eipex Illuminated Retractor System, Eivector Illuminated Retractor System and Waveguide XT System. The Company sells its devices through its direct sales representatives and original equipment manufacturers of surgical systems. Invuity, Inc. is based in San Francisco, California. “

Several other research analysts have also recently weighed in on IVTY. Northland Securities restated a buy rating and issued a $13.00 price objective on shares of Invuity in a research report on Tuesday, September 26th. Piper Jaffray Companies restated a buy rating and issued a $10.00 price objective on shares of Invuity in a research report on Wednesday, July 26th. Finally, ValuEngine upgraded shares of Invuity from a strong sell rating to a sell rating in a research report on Friday, September 1st. Two research analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average target price of $11.00.

Invuity (IVTY) opened at 8.90 on Thursday. The firm’s 50-day moving average price is $8.40 and its 200-day moving average price is $8.40. The company’s market capitalization is $151.74 million. Invuity has a 52 week low of $4.50 and a 52 week high of $13.95.

Invuity (NASDAQ:IVTY) last posted its quarterly earnings data on Tuesday, July 25th. The medical instruments supplier reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.54) by ($0.07). Invuity had a negative return on equity of 140.69% and a negative net margin of 114.61%. The company had revenue of $9.77 million during the quarter, compared to the consensus estimate of $10.30 million. On average, equities analysts expect that Invuity will post ($2.38) earnings per share for the current year.

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Hedge funds have recently bought and sold shares of the stock. FMR LLC raised its position in Invuity by 0.5% in the 1st quarter. FMR LLC now owns 829,564 shares of the medical instruments supplier’s stock worth $6,595,000 after purchasing an additional 4,264 shares during the last quarter. B. Riley Financial Inc. bought a new position in Invuity in the 2nd quarter worth approximately $3,625,000. Royce & Associates LP raised its position in Invuity by 141.9% in the 2nd quarter. Royce & Associates LP now owns 98,939 shares of the medical instruments supplier’s stock worth $717,000 after purchasing an additional 58,033 shares during the last quarter. UBS Group AG raised its position in Invuity by 53.4% in the 1st quarter. UBS Group AG now owns 13,200 shares of the medical instruments supplier’s stock worth $105,000 after purchasing an additional 4,594 shares during the last quarter. Finally, Spark Investment Management LLC bought a new position in Invuity in the 2nd quarter worth approximately $158,000. Hedge funds and other institutional investors own 68.87% of the company’s stock.

Invuity Company Profile

Invuity, Inc, a medical technology company, develops various surgical devices to address various surgical procedures in the United States. The company integrates its intelligent photonics technology platform into its single-use and reusable advanced surgical devices to address various critical intracavity illumination and visualization challenges.

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