Invuity, Inc. (IVTY) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Invuity, Inc. (NASDAQ:IVTY) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
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. “
Other analysts have also issued reports about the stock. Piper Jaffray Companies reiterated a buy rating and set a $10.00 price target on shares of Invuity in a research note on Wednesday, July 26th. Northland Securities set a $13.00 price target on shares of Invuity and gave the stock a buy rating in a research note on Tuesday, June 13th. Finally, ValuEngine upgraded shares of Invuity from a strong sell rating to a sell rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. Invuity currently has a consensus rating of Buy and a consensus price target of $11.00.
Invuity (NASDAQ:IVTY) traded up 2.79% on Wednesday, reaching $9.20. 63,486 shares of the company’s stock were exchanged. The stock’s market cap is $156.86 million. Invuity has a one year low of $4.50 and a one year high of $13.95. The firm has a 50 day moving average of $8.54 and a 200-day moving average of $8.54.
Invuity (NASDAQ:IVTY) last issued its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported ($0.61) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.54) by ($0.07). The business had revenue of $9.77 million for the quarter, compared to analysts’ expectations of $10.30 million. Invuity had a negative return on equity of 140.69% and a negative net margin of 114.61%. Equities research analysts forecast that Invuity will post ($2.38) EPS for the current fiscal year.
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A number of large investors have recently modified their holdings of IVTY. Citadel Advisors LLC purchased a new stake in Invuity during the second quarter worth about $101,000. UBS Group AG increased its stake in shares of Invuity by 53.4% during the first quarter. UBS Group AG now owns 13,200 shares of the medical instruments supplier’s stock worth $105,000 after buying an additional 4,594 shares during the period. Bank of Montreal Can purchased a new stake in shares of Invuity during the first quarter worth approximately $112,000. Renaissance Technologies LLC purchased a new stake in shares of Invuity during the first quarter worth approximately $151,000. Finally, Spark Investment Management LLC purchased a new stake in shares of Invuity during the second quarter worth approximately $158,000. Institutional investors own 68.87% of the company’s stock.
Invuity Company Profile
Invuity, Inc, a medical technology company, develops various surgical devices to address various surgical procedures in the United States. The company integrates its intelligent photonics technology platform into its single-use and reusable advanced surgical devices to address various critical intracavity illumination and visualization challenges.
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