Invuity’s (IVTY) Buy Rating Reaffirmed at Northland Securities
Invuity (NASDAQ:IVTY)‘s stock had its “buy” rating reissued by investment analysts at Northland Securities in a note issued to investors on Wednesday. They presently have a $6.00 price target on the medical instruments supplier’s stock. Northland Securities’ price objective indicates a potential upside of 51.90% from the stock’s current price.
The analysts wrote, “We would be remiss in not expressing our disappointment, and are lowering our PT to $6.””
A number of other brokerages also recently commented on IVTY. Zacks Investment Research upgraded Invuity from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Saturday, January 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $12.00 price objective on shares of Invuity in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $8.50.
A number of institutional investors have recently made changes to their positions in the stock. BlueCrest Capital Management Ltd purchased a new position in Invuity during the fourth quarter worth approximately $139,000. Eversept Partners LLC purchased a new position in Invuity during the fourth quarter worth approximately $279,000. Wells Fargo & Company MN raised its position in Invuity by 987.0% in the fourth quarter. Wells Fargo & Company MN now owns 64,198 shares of the medical instruments supplier’s stock valued at $398,000 after purchasing an additional 58,292 shares during the period. Lyon Street Capital LLC raised its position in Invuity by 15.5% in the third quarter. Lyon Street Capital LLC now owns 883,355 shares of the medical instruments supplier’s stock valued at $7,862,000 after purchasing an additional 118,825 shares during the period. Finally, Discovery Group I LLC raised its position in Invuity by 9,587.9% in the third quarter. Discovery Group I LLC now owns 1,258,849 shares of the medical instruments supplier’s stock valued at $11,204,000 after purchasing an additional 1,245,855 shares during the period. Hedge funds and other institutional investors own 67.57% of the company’s stock.
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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