Zacks Investment Research lowered shares of Transenterix Inc (NASDAQ:TRXC) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

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 started coverage on shares of 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 up 3.61% during midday trading on Tuesday, reaching $1.72. The company’s stock had a trading volume of 310,244 shares. Transenterix has a 52-week low of $1.03 and a 52-week high of $6.10. The firm has a 50-day moving average price of $1.67 and a 200 day moving average price of $1.54. The stock’s market capitalization is $197.90 million.

Transenterix (NASDAQ:TRXC) last released its earnings results on Wednesday, November 9th. The company reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The company had revenue of $1.50 million for the quarter, compared to analyst estimates of $1.80 million. Equities research analysts predict that Transenterix will post ($0.60) EPS for the current fiscal year.

In other Transenterix news, Director Andrea Biffi purchased 40,000 shares of the business’s stock in a transaction on Monday, August 22nd. The stock was purchased at an average price of $1.40 per share, for a total transaction of $56,000.00. Following the completion of the purchase, the director now directly owns 90,000 shares in the company, valued at $126,000. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

A number of hedge funds and other institutional investors have recently made changes to their positions in TRXC. 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 worth $2,760,000 after buying an additional 2,170,226 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Transenterix by 52.5% in the second quarter. BlackRock Fund Advisors now owns 1,819,488 shares of the company’s stock worth $2,220,000 after buying an additional 626,019 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Transenterix by 29.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 1,027,284 shares of the company’s stock worth $1,253,000 after buying an additional 234,681 shares in the last quarter. A.R.T. Advisors LLC acquired a new position in shares of Transenterix during the second quarter worth approximately $656,000. Finally, Royal Bank of Canada boosted its position in shares of Transenterix by 2.7% in the second quarter. Royal Bank of Canada now owns 446,327 shares of the company’s stock worth $544,000 after buying an additional 11,800 shares in the last quarter.

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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