Motus GI (NASDAQ:MOTS) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of Motus GI (NASDAQ:MOTS) from a hold rating to a sell rating in a research note released on Wednesday morning, Zacks.com reports.

According to Zacks, “Motus GI Holdings, Inc. is a medical technology company. It focuses on the development and commercialization of the Pure-Vu(R) System to improve the colonoscopy experience and assist in the early detection and prevention of colorectal cancer and other diseases of the rectum and colon. The company also operates through subsidiaries in the U.S. and Israel. Motus GI Holdings, Inc. is based in FL, United States. “

MOTS has been the subject of a number of other reports. Piper Jaffray Companies lowered their price target on shares of Motus GI from $8.00 to $6.00 in a report on Friday, May 10th. ValuEngine downgraded shares of Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, Oppenheimer set a $10.00 price target on shares of Motus GI and gave the stock a buy rating in a report on Thursday, March 28th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Motus GI currently has a consensus rating of Buy and an average target price of $8.60.

Shares of NASDAQ MOTS opened at $2.98 on Wednesday. The stock has a market capitalization of $63.71 million, a P/E ratio of -2.42 and a beta of 1.61. Motus GI has a 12 month low of $2.34 and a 12 month high of $7.95. The company has a current ratio of 6.36, a quick ratio of 6.31 and a debt-to-equity ratio of 0.05. The business’s 50-day moving average price is $3.37.

Motus GI (NASDAQ:MOTS) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.29) EPS for the quarter, hitting analysts’ consensus estimates of ($0.29). As a group, analysts expect that Motus GI will post -1.14 EPS for the current fiscal year.

In related news, major shareholder Life Sciences Maste Perceptive bought 1,000,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The shares were acquired at an average cost of $3.00 per share, with a total value of $3,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David P. Hochman bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average cost of $3.00 per share, for a total transaction of $30,000.00. The disclosure for this purchase can be found here. Insiders purchased 2,059,332 shares of company stock worth $6,179,896 over the last three months. Corporate insiders own 18.14% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mesirow Financial Investment Management Inc. raised its position in Motus GI by 69.2% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 151,866 shares of the company’s stock worth $480,000 after purchasing an additional 62,112 shares during the period. Spark Investment Management LLC raised its position in Motus GI by 73.5% in the 1st quarter. Spark Investment Management LLC now owns 28,900 shares of the company’s stock worth $112,000 after purchasing an additional 12,245 shares during the period. Finally, RTW Investments LP raised its position in Motus GI by 672.5% in the 4th quarter. RTW Investments LP now owns 459,478 shares of the company’s stock worth $1,429,000 after purchasing an additional 400,000 shares during the period. 35.30% of the stock is currently owned by institutional investors and hedge funds.

About Motus GI

Motus GI Holdings, Inc operates as a medical technology company to enhance the endoscopy outcomes and experiences in the United States and Israel. It focuses on the development and commercialization of the Pure-Vu system to enhance the colonoscopy experience and assist in the early detection and prevention of colorectal cancer and other diseases of the rectum and colon.

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