Invuity, Inc. (IVTY) Lowered to “Sell” at Zacks Investment Research
Zacks Investment Research lowered shares of Invuity, Inc. (NASDAQ:IVTY) from a hold rating to a sell rating in a report released on Friday morning.
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 firms have also recently weighed in on IVTY. Northland Securities restated a buy rating and set a $13.00 target price on shares of Invuity in a research note on Tuesday, May 16th. Piper Jaffray Companies restated a buy rating and set a $10.00 target price on shares of Invuity in a research note on Wednesday, July 26th. William Blair restated a buy rating on shares of Invuity in a research note on Tuesday, May 23rd. Finally, Stifel Nicolaus restated a buy rating and set a $10.00 target price (up from $9.00) on shares of Invuity in a research note on Thursday, April 27th. One research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus target price of $15.17.
Invuity (NASDAQ IVTY) opened at 6.35 on Friday. The company’s market cap is $108.27 million. Invuity has a 12 month low of $4.50 and a 12 month high of $14.25. The firm has a 50-day moving average price of $7.38 and a 200 day moving average price of $7.63.
Invuity (NASDAQ:IVTY) last released its earnings results 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 business had revenue of $9.77 million for 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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In other news, Director Eric W. Roberts purchased 6,500 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was bought at an average cost of $7.07 per share, for a total transaction of $45,955.00. Following the purchase, the director now owns 106,029 shares of the company’s stock, valued at $749,625.03. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eric W. Roberts purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was purchased at an average price of $7.88 per share, with a total value of $39,400.00. Following the completion of the purchase, the director now directly owns 101,529 shares in the company, valued at approximately $800,048.52. The disclosure for this purchase can be found here. Insiders have acquired 13,500 shares of company stock valued at $102,955 over the last 90 days. Corporate insiders own 10.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in IVTY. UBS Group AG boosted its position in shares of Invuity by 53.4% in the first quarter. UBS Group AG now owns 13,200 shares of the medical instruments supplier’s stock worth $105,000 after buying an additional 4,594 shares during the last quarter. Bank of Montreal Can purchased a new position in shares of Invuity during the first quarter worth approximately $112,000. Boston Advisors LLC purchased a new position in shares of Invuity during the first quarter worth approximately $144,000. Renaissance Technologies LLC purchased a new position in shares of Invuity during the first quarter worth approximately $151,000. Finally, Spark Investment Management LLC purchased a new position in shares of Invuity during the second quarter worth approximately $158,000. Institutional investors own 69.42% of the company’s stock.
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