Zacks Investment Research Downgrades Invuity Inc. (IVTY) to Hold
Invuity Inc. (NASDAQ:IVTY) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “Invuity, Inc. is a medical technology company. Its products include Eikon Illuminated Retractor System, Saber Yankauer, Saber Frazier, Eika Illuminated Retractor System, Breiten Illuminated Retractor System, Eipex Illuminated Retractor System, Eivector Illuminated Retractor System and Waveguide XT System. The Company sells its devices through its direct sales representatives and original equipment manufacturers of surgical systems. Invuity, Inc. is based in San Francisco, California. “
A number of other brokerages have also issued reports on IVTY. Lake Street Capital started coverage on Invuity in a research note on Monday, September 19th. They issued a “buy” rating and a $18.00 price target for the company. Craig Hallum started coverage on Invuity in a research note on Monday, August 29th. They issued a “buy” rating and a $25.00 price target for the company. TheStreet lowered Invuity to a “sell” rating in a research note on Tuesday, July 19th. Finally, Piper Jaffray Cos. reiterated an “overweight” rating and issued a $12.00 price target on shares of Invuity in a research note on Wednesday, July 20th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $17.00.
Shares of Invuity (NASDAQ:IVTY) opened at 6.30 on Wednesday. The company’s market cap is $98.85 million. Invuity has a 1-year low of $4.50 and a 1-year high of $14.25. The stock has a 50 day moving average price of $11.13 and a 200-day moving average price of $9.92.
In other news, Director Eric W. Roberts sold 26,839 shares of the firm’s stock in a transaction dated Friday, September 2nd. The stock was sold at an average price of $14.00, for a total transaction of $375,746.00. Following the completion of the transaction, the director now owns 69,945 shares in the company, valued at $979,230. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Eric W. Roberts sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $12.00, for a total value of $60,000.00. Following the transaction, the director now owns 69,945 shares of the company’s stock, valued at approximately $839,340. The disclosure for this sale can be found here. Insiders own 13.84% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Invuity by 4.7% in the second quarter. Vanguard Group Inc. now owns 115,244 shares of the company’s stock worth $1,098,000 after buying an additional 5,141 shares during the last quarter. RTW Investments LLC increased its position in shares of Invuity by 6.2% in the second quarter. RTW Investments LLC now owns 226,042 shares of the company’s stock worth $2,154,000 after buying an additional 13,234 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Invuity during the second quarter worth approximately $179,000. Spark Investment Management LLC acquired a new position in shares of Invuity during the third quarter worth approximately $323,000. Finally, Northern Trust Corp acquired a new position in shares of Invuity during the third quarter worth approximately $567,000. Hedge funds and other institutional investors own 48.43% of the company’s stock.
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