Invuity Inc (NASDAQ:IVTY) was the target of a significant decrease in short interest in September. As of September 28th, there was short interest totalling 157,848 shares, a decrease of 76.6% from the September 14th total of 674,048 shares. Currently, 0.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 452,141 shares, the days-to-cover ratio is currently 0.3 days.

Several large investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its stake in shares of Invuity by 32.4% during the second quarter. Northern Trust Corp now owns 45,244 shares of the medical instruments supplier’s stock valued at $176,000 after purchasing an additional 11,073 shares during the period. Wells Fargo & Company MN boosted its stake in shares of Invuity by 25.3% during the first quarter. Wells Fargo & Company MN now owns 80,451 shares of the medical instruments supplier’s stock valued at $310,000 after purchasing an additional 16,253 shares during the period. BlackRock Inc. boosted its stake in shares of Invuity by 43.4% during the second quarter. BlackRock Inc. now owns 56,511 shares of the medical instruments supplier’s stock valued at $221,000 after purchasing an additional 17,091 shares during the period. Spark Investment Management LLC boosted its stake in shares of Invuity by 138.2% during the second quarter. Spark Investment Management LLC now owns 45,500 shares of the medical instruments supplier’s stock valued at $177,000 after purchasing an additional 26,400 shares during the period. Finally, Kornitzer Capital Management Inc. KS boosted its stake in shares of Invuity by 38.1% during the second quarter. Kornitzer Capital Management Inc. KS now owns 103,600 shares of the medical instruments supplier’s stock valued at $404,000 after purchasing an additional 28,600 shares during the period. 59.95% of the stock is owned by hedge funds and other institutional investors.

Several analysts have issued reports on IVTY shares. Zacks Investment Research raised Invuity from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Thursday, July 5th. ValuEngine lowered Invuity from a “hold” rating to a “sell” rating in a research note on Thursday, September 6th. William Blair lowered Invuity from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 11th. Piper Jaffray Companies lowered Invuity from an “overweight” rating to a “neutral” rating in a research note on Tuesday, September 11th. Finally, Stifel Nicolaus lowered Invuity from a “buy” rating to a “hold” rating in a research note on Tuesday, September 11th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Invuity currently has a consensus rating of “Hold” and a consensus price target of $6.81.

Shares of IVTY opened at $7.39 on Friday. The company has a market capitalization of $178.15 million, a price-to-earnings ratio of -3.36 and a beta of 0.01. The company has a quick ratio of 1.69, a current ratio of 2.13 and a debt-to-equity ratio of 10.57. Invuity has a 1 year low of $2.35 and a 1 year high of $9.55.

Invuity (NASDAQ:IVTY) last issued its earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.10. The business had revenue of $10.50 million during the quarter, compared to analyst estimates of $10.73 million. Invuity had a negative return on equity of 724.87% and a negative net margin of 89.29%. Sell-side analysts anticipate that Invuity will post -1.41 earnings per share for the current fiscal year.

Invuity Company Profile

Invuity, Inc, a medical technology company, develops and markets surgical devices in the United States and Asia. The company through its intelligent photonics technology platform develops single-use and reusable illuminated surgical devices, which provide surgeons with illumination and direct visualization of surgical cavities.

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