Transenterix Inc (NASDAQ:TRXC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Saturday.

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 report on Friday, October 7th. They set a “buy” rating and a $3.00 price objective for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Transenterix has a consensus rating of “Hold” and an average price target of $3.13.

Shares of Transenterix (NASDAQ:TRXC) opened at 1.65 on Friday. The stock’s 50 day moving average is $1.66 and its 200 day moving average is $1.54. Transenterix has a 12 month low of $1.03 and a 12 month high of $6.10. The firm’s market cap is $189.85 million.

Transenterix (NASDAQ:TRXC) last posted its quarterly earnings data on Wednesday, November 9th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by $0.01. The company earned $1.50 million during the quarter, compared to analysts’ expectations of $1.80 million. On average, analysts anticipate that Transenterix will post ($0.60) earnings per share for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC boosted its stake in 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 during the period. BlackRock Fund Advisors boosted its stake in Transenterix by 52.5% in the second quarter. BlackRock Fund Advisors now owns 1,819,488 shares of the company’s stock valued at $2,220,000 after buying an additional 626,019 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in 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 valued at $1,253,000 after buying an additional 234,681 shares during the period. A.R.T. Advisors LLC acquired a new stake in Transenterix during the second quarter valued at approximately $656,000. Finally, 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 period.

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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