Zacks Investment Research downgraded shares of Transenterix Inc (NASDAQ:TRXC) from a buy rating to a hold rating in a report published on Wednesday morning.

According to Zacks, “TransEnterix Inc. designs, develops and manufactures medical-devices. It offers SPIDER(R) Surgical System, a laparoscopic surgical platform that allows intra-abdominal triangulation procedures to be performed with articulating instruments through a single site. The company is primarily focused on the development and commercialization of SurgiBot, a patient-side minimally invasive surgical robotic system. TransEnterix Inc., formerly known as SafeStitch Medical, Inc., is based in United States. “

Separately, B. Riley initiated coverage on Transenterix in a research note on Thursday, October 6th. They issued a buy rating and a $3.00 target price for the company.

Transenterix (NASDAQ:TRXC) traded down 5.96% on Wednesday, hitting $2.05. The stock had a trading volume of 517,438 shares. The company has a 50-day moving average price of $1.57 and a 200 day moving average price of $1.98. The firm’s market cap is $235.75 million. Transenterix has a 52-week low of $1.03 and a 52-week high of $6.10.

Transenterix (NASDAQ:TRXC) last issued its earnings results on Friday, August 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.04. Equities analysts forecast that Transenterix will post ($0.59) earnings per share for the current fiscal year.

In other news, Director Andrea Biffi acquired 40,000 shares of the stock in a transaction that occurred on Monday, August 22nd. The shares were bought at an average cost of $1.40 per share, for a total transaction of $56,000.00. Following the acquisition, the director now owns 90,000 shares in the company, valued at approximately $126,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its stake in Transenterix by 2.7% in the second quarter. Royal Bank of Canada now owns 446,327 shares of the company’s stock valued at $544,000 after buying an additional 11,800 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Transenterix by 170.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 143,700 shares of the company’s stock valued at $176,000 after buying an additional 90,600 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Transenterix by 2,356.8% in the second quarter. AQR Capital Management LLC now owns 2,262,310 shares of the company’s stock valued at $2,760,000 after buying an additional 2,170,226 shares in the last quarter. A.R.T. Advisors LLC bought a new position in shares of Transenterix during the second quarter valued at $656,000. Finally, Advisor Group Inc. bought a new position in shares of Transenterix during the second quarter valued at $301,000.

About Transenterix

TransEnterix, Inc is a medical device company. The Company is focused on the development and commercialization of ALF-X Surgical Robotic System (the ALF-X System), and SurgiBot System. The Company’s ALF-X System is a multi-port robotic surgery system, which allows multiple robotic arms to control instruments and a camera.

5 Day Chart for NASDAQ:TRXC

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