Short Interest in TransEnterix, Inc. (TRXC) Drops By 11.5%

TransEnterix, Inc. (NYSEAMERICAN:TRXC) was the target of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 36,349,828 shares, a drop of 11.5% from the October 15th total of 41,056,924 shares. Currently, 21.3% of the shares of the company are sold short. Based on an average daily trading volume, of 7,223,997 shares, the short-interest ratio is currently 5.0 days.

Several brokerages recently issued reports on TRXC. Zacks Investment Research raised shares of TransEnterix from a “sell” rating to a “hold” rating in a report on Friday. LADENBURG THALM/SH SH raised shares of TransEnterix from a “neutral” rating to a “buy” rating and set a $5.00 target price for the company in a report on Friday. Finally, BTIG Research reissued a “hold” rating on shares of TransEnterix in a report on Tuesday, September 25th.

In related news, Director William N. Starling, Jr. sold 1,700,000 shares of the firm’s stock in a transaction on Tuesday, September 25th. The shares were sold at an average price of $6.40, for a total transaction of $10,880,000.00. Following the completion of the transaction, the director now owns 66,987 shares of the company’s stock, valued at $428,716.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joseph P. Slattery sold 64,651 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The stock was sold at an average price of $5.74, for a total transaction of $371,096.74. Following the transaction, the chief financial officer now directly owns 11,951 shares of the company’s stock, valued at approximately $68,598.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,909,224 shares of company stock valued at $18,271,761.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TRXC. BlackRock Inc. increased its holdings in TransEnterix by 467.9% in the second quarter. BlackRock Inc. now owns 9,870,565 shares of the medical instruments supplier’s stock valued at $43,036,000 after buying an additional 8,132,481 shares in the last quarter. Global X Management Co LLC purchased a new position in TransEnterix in the second quarter valued at $11,212,000. Millennium Management LLC increased its holdings in TransEnterix by 787.5% in the first quarter. Millennium Management LLC now owns 1,895,115 shares of the medical instruments supplier’s stock valued at $3,222,000 after buying an additional 1,681,583 shares in the last quarter. UBS Group AG grew its position in shares of TransEnterix by 1,658.3% in the first quarter. UBS Group AG now owns 906,280 shares of the medical instruments supplier’s stock valued at $1,541,000 after purchasing an additional 854,737 shares during the period. Finally, Eagle Asset Management Inc. grew its position in shares of TransEnterix by 152.9% in the second quarter. Eagle Asset Management Inc. now owns 791,165 shares of the medical instruments supplier’s stock valued at $3,449,000 after purchasing an additional 478,286 shares during the period.

TRXC opened at $3.22 on Friday. TransEnterix has a fifty-two week low of $1.27 and a fifty-two week high of $6.98.

TransEnterix (NYSEAMERICAN:TRXC) last released its quarterly earnings data on Thursday, November 8th. The medical instruments supplier reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $5.40 million during the quarter, compared to analysts’ expectations of $5.40 million. The firm’s revenue for the quarter was up 2850.8% compared to the same quarter last year.

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About TransEnterix

TransEnterix, Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery. The company offers Senhance System, a multi-port robotic surgery system, which allows up to four arms to control robotic instruments and a camera in Europe.

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