TransEnterix, Inc. (TRXC) Sees Large Growth in Short Interest
TransEnterix, Inc. (NYSEAMERICAN:TRXC) was the target of a significant growth in short interest in the month of September. As of September 14th, there was short interest totalling 34,813,378 shares, a growth of 10.9% from the August 31st total of 31,383,304 shares. Based on an average trading volume of 4,917,524 shares, the days-to-cover ratio is presently 7.1 days. Approximately 21.3% of the company’s shares are sold short.
TRXC traded down $0.46 on Tuesday, reaching $6.41. 12,802,162 shares of the company traded hands, compared to its average volume of 4,829,963. TransEnterix has a 52-week low of $1.20 and a 52-week high of $6.98.
TransEnterix (NYSEAMERICAN:TRXC) last announced its quarterly earnings data on Tuesday, August 7th. The medical instruments supplier reported ($0.06) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.06). TransEnterix had a negative net margin of 21,045.36% and a negative return on equity of 137.69%. The firm had revenue of $6.39 million for the quarter, compared to the consensus estimate of $6.20 million.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. California Public Employees Retirement System grew its position in TransEnterix by 12.4% during the second quarter. California Public Employees Retirement System now owns 181,463 shares of the medical instruments supplier’s stock valued at $791,000 after purchasing an additional 20,063 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in TransEnterix by 20.0% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 134,658 shares of the medical instruments supplier’s stock valued at $587,000 after purchasing an additional 22,402 shares in the last quarter. Legal & General Group Plc bought a new stake in TransEnterix in the second quarter worth approximately $101,000. Amalgamated Bank bought a new stake in TransEnterix in the second quarter worth approximately $104,000. Finally, Ardsley Advisory Partners bought a new stake in TransEnterix in the second quarter worth approximately $109,000.
A number of brokerages recently commented on TRXC. BTIG Research reaffirmed a “hold” rating on shares of TransEnterix in a research report on Tuesday. Zacks Investment Research raised shares of TransEnterix from a “sell” rating to a “hold” rating in a research report on Wednesday, August 1st. LADENBURG THALM/SH SH downgraded shares of TransEnterix from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $3.50 to $4.00 in a research report on Tuesday, May 29th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $5.50 price objective on shares of TransEnterix in a research report on Thursday, July 5th.
TransEnterix, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery. The company offers Senhance System, a multi-port robotic surgery system, which allows up to four arms to control robotic instruments and a camera in Europe.
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