Invuity (IVTY) Downgraded to “Sell” at Zacks Investment Research

Invuity (NASDAQ:IVTY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, January 10th.

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 equities analysts have also recently issued reports on the company. Piper Jaffray Companies reiterated a “buy” rating and set a $12.00 target price on shares of Invuity in a report on Friday, November 10th. Northland Securities restated a “buy” rating and set a $13.00 price objective on shares of Invuity in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $10.25.

Shares of Invuity (NASDAQ IVTY) opened at $4.05 on Wednesday. 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 has a 1 year low of $3.85 and a 1 year high of $9.70. The company has a market cap of $77.13, a price-to-earnings ratio of -1.64 and a beta of -0.50.

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

A number of hedge funds have recently modified their holdings of the business. Discovery Group I LLC lifted its position in 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 last quarter. Lyon Street Capital LLC increased its holdings in shares of Invuity by 15.5% during the third quarter. Lyon Street Capital LLC now owns 883,355 shares of the medical instruments supplier’s stock worth $7,862,000 after purchasing an additional 118,825 shares during the period. B. Riley Financial Inc. bought a new position in shares of Invuity during the second quarter worth approximately $3,625,000. Vanguard Group Inc. increased its holdings 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 purchasing an additional 56,527 shares during the period. Finally, Summit Partners Public Asset Management LLC bought a new position in shares of Invuity during the second quarter worth approximately $1,549,000. Hedge funds and other institutional investors own 68.09% of the company’s stock.

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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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