Zacks: Brokerages Anticipate Invuity Inc (IVTY) Will Post Earnings of -$0.26 Per Share

Equities analysts predict that Invuity Inc (NASDAQ:IVTY) will report earnings per share of ($0.26) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Invuity’s earnings, with the highest EPS estimate coming in at ($0.21) and the lowest estimate coming in at ($0.37). Invuity reported earnings of ($0.52) per share during the same quarter last year, which would suggest a positive year over year growth rate of 50%. The business is expected to report its next quarterly earnings report on Tuesday, November 6th.

On average, analysts expect that Invuity will report full-year earnings of ($1.41) per share for the current fiscal year, with EPS estimates ranging from ($1.61) to ($1.32). For the next fiscal year, analysts anticipate that the business will post earnings of ($1.00) per share, with EPS estimates ranging from ($1.31) to ($0.79). Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that cover Invuity.

Invuity (NASDAQ:IVTY) last announced its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.37) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.10. Invuity had a negative net margin of 89.29% and a negative return on equity of 724.87%. The firm had revenue of $10.50 million for the quarter, compared to the consensus estimate of $10.73 million.



Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of Invuity from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. Zacks Investment Research upgraded shares of Invuity from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a research report on Thursday, July 5th. Finally, Stifel Nicolaus decreased their price objective on shares of Invuity from $6.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $6.81.

Shares of Invuity stock traded down $0.15 on Thursday, reaching $3.35. The stock had a trading volume of 242,151 shares, compared to its average volume of 161,882. Invuity has a 1 year low of $2.35 and a 1 year high of $9.55. The company has a market cap of $86.67 million, a price-to-earnings ratio of -1.52 and a beta of 0.01. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 10.57.

In related news, Director Eric W. Roberts acquired 12,500 shares of the firm’s stock in a transaction that occurred on Friday, June 8th. The shares were bought at an average cost of $3.73 per share, for a total transaction of $46,625.00. Following the completion of the transaction, the director now owns 163,795 shares in the company, valued at $610,955.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 8.41% of the stock is currently owned by corporate insiders.

Several hedge funds have recently bought and sold shares of IVTY. Spark Investment Management LLC increased its position in shares of Invuity by 138.2% in the second quarter. Spark Investment Management LLC now owns 45,500 shares of the medical instruments supplier’s stock worth $177,000 after purchasing an additional 26,400 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Invuity by 5,196.9% in the first quarter. JPMorgan Chase & Co. now owns 47,672 shares of the medical instruments supplier’s stock worth $184,000 after purchasing an additional 46,772 shares during the last quarter. BlackRock Inc. increased its position in shares of Invuity by 43.4% in the second quarter. BlackRock Inc. now owns 56,511 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 17,091 shares during the last quarter. Kornitzer Capital Management Inc. KS bought a new position in shares of Invuity in the first quarter worth approximately $289,000. Finally, CVI Holdings LLC bought a new position in shares of Invuity in the first quarter worth approximately $302,000. Institutional investors own 58.21% of the company’s stock.

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.

Featured Story: Google Finance

Get a free copy of the Zacks research report on Invuity (IVTY)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Invuity (NASDAQ:IVTY)

Receive News & Ratings for Invuity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Invuity and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply