Zacks Investment Research Upgrades TransEnterix (TRXC) to Buy

Zacks Investment Research upgraded shares of TransEnterix (NYSEAMERICAN:TRXC) from a hold rating to a buy rating in a research report report published on Saturday morning. They currently have $2.50 target price on the medical instruments supplier’s stock.

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. “

Other equities research analysts have also recently issued reports about the company. BTIG Research reaffirmed a hold rating on shares of TransEnterix in a research note on Tuesday, September 25th. LADENBURG THALM/SH SH raised TransEnterix from a neutral rating to a buy rating and set a $5.00 price target on the stock in a research note on Friday, November 9th.

TRXC opened at $2.82 on Friday. TransEnterix has a 52-week low of $1.27 and a 52-week high of $6.98.

TransEnterix (NYSEAMERICAN:TRXC) last posted its earnings results on Thursday, November 8th. The medical instruments supplier reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The business had revenue of $5.40 million for the quarter, compared to analysts’ expectations of $5.40 million. TransEnterix’s revenue was up 2850.8% compared to the same quarter last year.

A number of hedge funds have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in TransEnterix by 27.4% in the third quarter. BlackRock Inc. now owns 12,575,742 shares of the medical instruments supplier’s stock worth $72,938,000 after acquiring an additional 2,705,177 shares in the last quarter. Vanguard Group Inc boosted its holdings in TransEnterix by 13.5% in the third quarter. Vanguard Group Inc now owns 8,455,056 shares of the medical instruments supplier’s stock worth $49,039,000 after acquiring an additional 1,003,091 shares in the last quarter. Vanguard Group Inc. boosted its holdings in TransEnterix by 13.5% in the third quarter. Vanguard Group Inc. now owns 8,455,056 shares of the medical instruments supplier’s stock worth $49,039,000 after acquiring an additional 1,003,091 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in TransEnterix in the third quarter worth $30,149,000. Finally, Global X Management Co LLC bought a new stake in TransEnterix in the second quarter worth $11,212,000.

About TransEnterix

TransEnterix, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery. The company offers Senhance System, a multi-port robotic surgery system, which allows up to four arms to control robotic instruments and a camera in Europe.

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