Invuity (IVTY) Stock Rating Lowered by Zacks Investment Research

Invuity (NASDAQ:IVTY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “

A number of other research analysts have also commented on IVTY. Northland Securities restated a “buy” rating and issued a $13.00 price objective on shares of Invuity in a research note on Tuesday, September 26th. Piper Jaffray Companies restated a “buy” rating and issued a $12.00 price objective on shares of Invuity in a research note on Friday, November 10th. Two analysts have rated the stock with a sell rating and four have given a buy rating to the company. Invuity has an average rating of “Hold” and a consensus target price of $11.67.

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

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

Institutional investors have recently modified their holdings of the company. CAPROCK Group Inc. increased its stake in shares of Invuity by 28.6% during the third quarter. CAPROCK Group Inc. now owns 45,000 shares of the medical instruments supplier’s stock worth $401,000 after acquiring an additional 10,000 shares during the period. OxFORD Asset Management LLP acquired a new position in shares of Invuity during the second quarter worth about $374,000. Vanguard Group Inc. increased its stake in shares of Invuity by 16.3% during 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. B. Riley Financial Inc. acquired a new position in shares of Invuity during the second quarter worth about $3,625,000. Finally, Discovery Group I LLC increased its stake in shares of Invuity by 9,587.9% during 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. Institutional investors and hedge funds own 69.06% of the company’s stock.

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About Invuity

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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