Principal Financial Group Inc. Invests $266,000 in Asensus Surgical, Inc. (NYSE:ASXC)

Principal Financial Group Inc. acquired a new stake in Asensus Surgical, Inc. (NYSE:ASXC) during the 2nd quarter, Holdings Channel reports. The fund acquired 83,902 shares of the company’s stock, valued at approximately $266,000.

A number of other large investors have also added to or reduced their stakes in ASXC. Renaissance Technologies LLC acquired a new stake in Asensus Surgical in the first quarter valued at about $8,776,000. BlackRock Inc. acquired a new stake in Asensus Surgical in the first quarter valued at about $8,156,000. Rafferty Asset Management LLC acquired a new stake in Asensus Surgical in the second quarter valued at about $4,108,000. Geode Capital Management LLC acquired a new stake in Asensus Surgical in the first quarter valued at about $3,341,000. Finally, Millennium Management LLC acquired a new stake in Asensus Surgical in the first quarter valued at about $2,513,000. 24.76% of the stock is currently owned by institutional investors and hedge funds.

Separately, Zacks Investment Research raised Asensus Surgical from a “hold” rating to a “buy” rating and set a $2.00 price objective on the stock in a research note on Tuesday, October 5th.

Shares of ASXC stock opened at $1.80 on Thursday. The business’s 50-day moving average price is $2.04 and its 200-day moving average price is $2.36. Asensus Surgical, Inc. has a 12 month low of $0.35 and a 12 month high of $6.95. The firm has a market capitalization of $421.78 million, a price-to-earnings ratio of -4.29 and a beta of 1.50.

Asensus Surgical (NYSE:ASXC) last announced its quarterly earnings results on Wednesday, August 4th. The company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Asensus Surgical had a negative return on equity of 35.38% and a negative net margin of 1,162.78%. The firm had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.63 million. As a group, analysts forecast that Asensus Surgical, Inc. will post -0.26 EPS for the current year.

Asensus Surgical Company Profile

Asensus Surgical, Inc is a medical device company, which digitizes the interface between the surgeon and the patient to improve minimally invasive surgery through digital laparoscopy. It enables the use of advanced capabilities like augmented intelligence, connectivity and robotics in laparoscopy, and addresses the current clinical, cognitive, economic shortcomings in surgery.

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Institutional Ownership by Quarter for Asensus Surgical (NYSE:ASXC)

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