Invuity (IVTY) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of Invuity (NASDAQ:IVTY) from a hold rating to a sell rating in a research note published on Wednesday.

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 equities analysts have also issued reports about the company. Piper Jaffray Companies reissued a buy rating and set a $12.00 price objective on shares of Invuity in a report on Friday, November 10th. Northland Securities reissued a buy rating and set a $13.00 price objective on shares of Invuity in a report on Tuesday, September 26th. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $11.67.

Shares of Invuity (IVTY) traded down $0.10 during midday trading on Wednesday, reaching $5.60. The company’s stock had a trading volume of 64,073 shares, compared to its average volume of 138,993. Invuity has a 1-year low of $5.40 and a 1-year high of $9.70. The company has a market capitalization of $95.98, a price-to-earnings ratio of -2.27 and a beta of -0.25. The company has a current ratio of 2.90, a quick ratio of 2.47 and a debt-to-equity ratio of 5.39.

Invuity (NASDAQ:IVTY) last announced its quarterly earnings data on Tuesday, November 7th. The medical instruments supplier reported ($0.52) earnings per share for the quarter, beating the consensus estimate of ($0.56) by $0.04. Invuity had a negative return on equity of 212.38% and a negative net margin of 111.43%. The business had revenue of $9.60 million during the quarter, compared to analyst estimates of $9.87 million. equities research analysts anticipate that Invuity will post -2.41 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Discovery Group I LLC boosted its holdings in shares of 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 worth $11,204,000 after acquiring an additional 1,245,855 shares during the period. Lyon Street Capital LLC boosted its holdings in shares of Invuity by 15.5% in the third quarter. Lyon Street Capital LLC now owns 883,355 shares of the medical instruments supplier’s stock worth $7,862,000 after acquiring an additional 118,825 shares during the period. B. Riley Financial Inc. bought a new position in shares of Invuity in the second quarter worth $3,625,000. Vanguard Group Inc. boosted its holdings in shares of Invuity by 16.3% in the second quarter. Vanguard Group Inc. now owns 402,680 shares of the medical instruments supplier’s stock worth $2,919,000 after acquiring an additional 56,527 shares during the period. Finally, Summit Partners Public Asset Management LLC bought a new position in shares of Invuity in the second quarter worth $1,549,000. 69.06% of the stock is owned by hedge funds and other institutional investors.

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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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