TransEnterix (NYSEAMERICAN:TRXC) Trading Down 7.4%

TransEnterix, Inc. (NYSEAMERICAN:TRXC) dropped 7.4% during trading on Tuesday . The company traded as low as $0.63 and last traded at $0.63, approximately 2,201,245 shares were traded during mid-day trading. A decline of 15% from the average daily volume of 2,597,942 shares. The stock had previously closed at $0.68.

TRXC has been the topic of a number of recent research reports. Zacks Investment Research downgraded TransEnterix from a “hold” rating to a “sell” rating in a research note on Saturday, July 13th. Royal Bank of Canada downgraded TransEnterix from an “outperform” rating to a “sector perform” rating and set a $1.00 target price on the stock. in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $2.62.

TransEnterix (NYSEAMERICAN:TRXC) last released its quarterly earnings results on Wednesday, August 7th. The medical instruments supplier reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $3.64 million during the quarter, compared to the consensus estimate of $5.13 million.



Several institutional investors and hedge funds have recently added to or reduced their stakes in TRXC. First Trust Advisors LP lifted its position in shares of TransEnterix by 62.4% during the 2nd quarter. First Trust Advisors LP now owns 706,949 shares of the medical instruments supplier’s stock worth $961,000 after purchasing an additional 271,502 shares during the last quarter. Brown Advisory Inc. acquired a new position in shares of TransEnterix during the 2nd quarter worth about $91,000. Alps Advisors Inc. lifted its position in shares of TransEnterix by 129.6% during the 2nd quarter. Alps Advisors Inc. now owns 491,900 shares of the medical instruments supplier’s stock worth $669,000 after purchasing an additional 277,678 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of TransEnterix by 7.2% during the 1st quarter. JPMorgan Chase & Co. now owns 8,285,135 shares of the medical instruments supplier’s stock worth $19,719,000 after purchasing an additional 557,305 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of TransEnterix by 921.4% during the 2nd quarter. SG Americas Securities LLC now owns 212,259 shares of the medical instruments supplier’s stock worth $289,000 after purchasing an additional 191,477 shares during the last quarter.

About TransEnterix (NYSEAMERICAN:TRXC)

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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