Shares of Invuity, Inc. (NASDAQ:IVTY) rose 6.8% during mid-day trading on Friday . The stock traded as high as $4.00 and last traded at $3.90. Approximately 510,904 shares were traded during trading, an increase of 89% from the average daily volume of 270,419 shares. The stock had previously closed at $3.65.
IVTY has been the subject of several recent analyst reports. Zacks Investment Research downgraded Invuity from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Northland Securities reiterated a “buy” rating and set a $6.00 price target on shares of Invuity in a research note on Wednesday, February 14th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $8.50.
The company has a market cap of $73.99, a P/E ratio of -1.67 and a beta of -0.14. The company has a debt-to-equity ratio of -33.85, a quick ratio of 2.04 and a current ratio of 2.55.
Invuity (NASDAQ:IVTY) last announced its earnings results on Tuesday, February 13th. The medical instruments supplier reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.50) by $0.07. Invuity had a negative return on equity of 380.14% and a negative net margin of 100.75%. The firm had revenue of $11.23 million during the quarter, compared to the consensus estimate of $11.84 million. sell-side analysts predict that Invuity, Inc. will post -1.82 earnings per share for the current year.
A number of large investors have recently made changes to their positions in the stock. Discovery Group I LLC boosted its stake in Invuity by 9,587.9% during the 3rd quarter. Discovery Group I LLC now owns 1,258,849 shares of the medical instruments supplier’s stock valued at $11,204,000 after purchasing an additional 1,245,855 shares during the period. Lyon Street Capital LLC boosted its stake in Invuity by 15.5% during the 3rd quarter. Lyon Street Capital LLC now owns 883,355 shares of the medical instruments supplier’s stock valued at $7,862,000 after purchasing an additional 118,825 shares during the period. Millennium Management LLC boosted its stake in Invuity by 26.5% during the 4th quarter. Millennium Management LLC now owns 418,116 shares of the medical instruments supplier’s stock valued at $2,592,000 after purchasing an additional 87,587 shares during the period. Vanguard Group Inc. boosted its stake in Invuity by 16.3% during the 2nd quarter. Vanguard Group Inc. now owns 402,680 shares of the medical instruments supplier’s stock valued at $2,919,000 after purchasing an additional 56,527 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in Invuity by 987.0% during the 4th quarter. Wells Fargo & Company MN now owns 64,198 shares of the medical instruments supplier’s stock valued at $398,000 after purchasing an additional 58,292 shares during the period. Hedge funds and other institutional investors own 63.48% of the company’s stock.
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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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