Wall Street brokerages predict that Invuity (NASDAQ:IVTY) will report $9.58 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Invuity’s earnings, with the highest sales estimate coming in at $9.80 million and the lowest estimate coming in at $9.50 million. Invuity reported sales of $9.02 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.2%. The company is scheduled to report its next earnings results on Wednesday, April 25th.
On average, analysts expect that Invuity will report full-year sales of $46.02 million for the current fiscal year, with estimates ranging from $45.60 million to $46.40 million. For the next financial year, analysts expect that the company will report sales of $56.00 million per share, with estimates ranging from $53.40 million to $58.10 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Invuity.
Invuity (NASDAQ:IVTY) last issued its earnings results on Tuesday, February 13th. The medical instruments supplier reported ($0.43) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.07. The business had revenue of $11.23 million during the quarter, compared to analysts’ expectations of $11.84 million. Invuity had a negative net margin of 100.75% and a negative return on equity of 380.14%.
IVTY has been the subject of a number of recent research reports. ValuEngine cut shares of Invuity from a “sell” rating to a “strong sell” rating in a research report on Monday, April 2nd. Zacks Investment Research upgraded shares of Invuity from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research report on Saturday, January 27th. Finally, Northland Securities reiterated a “buy” rating and issued a $6.00 target price on shares of Invuity in a research report on Wednesday, February 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Invuity presently has an average rating of “Buy” and a consensus target price of $8.50.
In other news, Director Gregory T. Lucier acquired 64,158 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The stock was purchased at an average cost of $3.90 per share, for a total transaction of $250,216.20. Following the completion of the transaction, the director now owns 117,204 shares in the company, valued at $457,095.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Scott D. Flora acquired 25,281 shares of the business’s stock in a transaction that occurred on Friday, March 16th. The shares were purchased at an average price of $3.90 per share, with a total value of $98,595.90. Following the completion of the transaction, the chief executive officer now owns 77,203 shares of the company’s stock, valued at approximately $301,091.70. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 100,815 shares of company stock valued at $393,179. 10.50% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in IVTY. Wells Fargo & Company MN increased its position in Invuity by 987.0% during the fourth quarter. Wells Fargo & Company MN now owns 64,198 shares of the medical instruments supplier’s stock worth $398,000 after purchasing an additional 58,292 shares during the last quarter. Eversept Partners LLC acquired a new stake in Invuity during the fourth quarter worth about $279,000. BlueCrest Capital Management Ltd acquired a new stake in Invuity during the fourth quarter worth about $139,000. Finally, Millennium Management LLC increased its position in Invuity by 26.5% during the fourth quarter. Millennium Management LLC now owns 418,116 shares of the medical instruments supplier’s stock worth $2,592,000 after purchasing an additional 87,587 shares during the last quarter. Hedge funds and other institutional investors own 46.72% of the company’s stock.
Shares of NASDAQ IVTY traded down $0.18 during mid-day trading on Wednesday, reaching $3.75. The company’s stock had a trading volume of 151,271 shares, compared to its average volume of 242,493. The stock has a market capitalization of $91.76, a price-to-earnings ratio of -1.70 and a beta of -0.07. The company has a quick ratio of 2.04, a current ratio of 2.55 and a debt-to-equity ratio of -33.85. Invuity has a 1-year low of $3.30 and a 1-year high of $9.70.
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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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