Invuity (IVTY) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research lowered shares of Invuity (NASDAQ:IVTY) from a hold rating to a sell rating in a report issued on Wednesday 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. “
A number of other equities research analysts also recently issued reports on the company. Piper Jaffray Companies reiterated a buy rating and issued a $12.00 price objective on shares of Invuity in a research report on Friday, November 10th. Northland Securities reiterated a buy rating and issued a $13.00 price objective on shares of Invuity in a research report on Tuesday, September 26th. Two analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $11.67.
Invuity (NASDAQ IVTY) traded down $0.10 during trading on Wednesday, hitting $5.60. The stock had a trading volume of 64,073 shares, compared to its average volume of 138,993. Invuity has a 52-week low of $5.40 and a 52-week high of $9.70. The company has a quick ratio of 2.47, a current ratio of 2.90 and a debt-to-equity ratio of 5.39. The company has a market capitalization of $95.98, a price-to-earnings ratio of -2.27 and a beta of -0.25.
Invuity (NASDAQ:IVTY) last posted its quarterly earnings results on Tuesday, November 7th. The medical instruments supplier reported ($0.52) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.56) by $0.04. Invuity had a negative return on equity of 212.38% and a negative net margin of 111.43%. The firm had revenue of $9.60 million during the quarter, compared to analyst estimates of $9.87 million. research analysts forecast that Invuity will post -2.41 earnings per share for the current year.
Several hedge funds have recently modified their holdings of the stock. CAPROCK Group Inc. raised its position in shares of Invuity by 28.6% in the third quarter. CAPROCK Group Inc. now owns 45,000 shares of the medical instruments supplier’s stock worth $401,000 after buying an additional 10,000 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Invuity in the second quarter worth $101,000. Lyon Street Capital LLC raised its position in shares of Invuity by 5.2% in the second quarter. Lyon Street Capital LLC now owns 764,530 shares of the medical instruments supplier’s stock worth $5,543,000 after buying an additional 37,498 shares in the last quarter. OxFORD Asset Management LLP purchased a new stake in shares of Invuity in the second quarter worth $374,000. Finally, Vanguard Group Inc. raised its position in shares of Invuity by 16.3% in the second quarter. Vanguard Group Inc. now owns 402,680 shares of the medical instruments supplier’s stock worth $2,919,000 after buying an additional 56,527 shares in the last quarter. Institutional investors own 69.06% 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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