Invuity, Inc. (NASDAQ:IVTY) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Invuity, Inc. (NASDAQ:IVTY) from a sell rating to a hold rating in a report released on Tuesday, June 27th.

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. “

A number of other brokerages also recently weighed in on IVTY. Northland Securities reiterated a buy rating and set a $13.00 price target on shares of Invuity in a report on Monday, May 8th. Stifel Nicolaus reiterated a buy rating and set a $10.00 price target (up previously from $9.00) on shares of Invuity in a report on Thursday, April 27th. Finally, William Blair reiterated a buy rating on shares of Invuity in a report on Tuesday, May 23rd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Invuity presently has an average rating of Buy and an average price target of $15.17.

Invuity (NASDAQ IVTY) traded down 2.90% during mid-day trading on Tuesday, hitting $6.70. The company had a trading volume of 239,569 shares. The company’s 50 day moving average price is $7.42 and its 200-day moving average price is $7.62. The company’s market cap is $113.73 million. Invuity has a one year low of $4.50 and a one year high of $14.25.

Invuity (NASDAQ:IVTY) last issued its quarterly earnings results on Tuesday, July 25th. The medical instruments supplier reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.54) by $0.07. Invuity had a negative net margin of 114.61% and a negative return on equity of 119.04%. The business had revenue of $9.77 million for the quarter, compared to analysts’ expectations of $10.30 million. Equities research analysts anticipate that Invuity will post ($2.38) EPS for the current fiscal year.

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In other Invuity news, Director Reza Zadno sold 4,000 shares of the business’s stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $9.16, for a total value of $36,640.00. Following the transaction, the director now owns 8,800 shares in the company, valued at $80,608. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Eric W. Roberts bought 6,500 shares of the stock in a transaction on Thursday, May 18th. The stock was purchased at an average price of $7.07 per share, for a total transaction of $45,955.00. Following the purchase, the director now directly owns 106,029 shares of the company’s stock, valued at $749,625.03. The disclosure for this purchase can be found here. Insiders acquired 13,500 shares of company stock worth $102,955 in the last 90 days. Corporate insiders own 10.50% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new position in shares of Invuity during the first quarter worth approximately $151,000. UBS Group AG increased its position in shares of Invuity by 53.4% in 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. Royce & Associates LP increased its position in shares of Invuity by 84.4% in the first quarter. Royce & Associates LP now owns 40,906 shares of the medical instruments supplier’s stock worth $325,000 after buying an additional 18,726 shares during the period. Dialectic Capital Management LP increased its position in shares of Invuity by 67.7% in the first quarter. Dialectic Capital Management LP now owns 394,000 shares of the medical instruments supplier’s stock worth $3,132,000 after buying an additional 159,000 shares during the period. Finally, FMR LLC increased its position in shares of Invuity by 0.5% in the first quarter. FMR LLC now owns 829,564 shares of the medical instruments supplier’s stock worth $6,595,000 after buying an additional 4,264 shares during the period. Hedge funds and other institutional investors own 69.37% of the company’s stock.

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