Invuity Inc (NASDAQ:IVTY)’s share price shot up 14.3% during trading on Tuesday . The company traded as high as $4.25 and last traded at $4.00. 548,626 shares traded hands during trading, an increase of 144% from the average session volume of 224,399 shares. The stock had previously closed at $3.50.
A number of brokerages have recently commented on IVTY. ValuEngine raised Invuity from a “sell” rating to a “hold” rating in a research report on Saturday, June 2nd. Zacks Investment Research downgraded Invuity from a “buy” rating to a “hold” rating in a research report on Saturday, May 12th. Finally, Stifel Nicolaus lowered their price objective on Invuity from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Friday, May 4th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $6.63.
Get Invuity alerts:The stock has a market capitalization of $96.17 million, a P/E ratio of -1.74 and a beta of -0.01. The company has a debt-to-equity ratio of 2.76, a current ratio of 3.38 and a quick ratio of 2.78.
Invuity (NASDAQ:IVTY) last announced its quarterly earnings data on Thursday, May 3rd. The medical instruments supplier reported ($0.62) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.52) by ($0.10). Invuity had a negative return on equity of 543.34% and a negative net margin of 94.51%. The company had revenue of $9.51 million for the quarter, compared to analyst estimates of $9.58 million. research analysts anticipate that Invuity Inc will post -1.63 EPS for the current fiscal year.
In other Invuity news, Director Eric W. Roberts purchased 12,500 shares of the stock in a transaction that occurred on Friday, June 8th. The stock was purchased at an average cost of $3.73 per share, with a total value of $46,625.00. Following the completion of the acquisition, the director now directly owns 163,795 shares of the company’s stock, valued at approximately $610,955.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 8.41% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in IVTY. BlueCrest Capital Management Ltd acquired a new position in Invuity in the fourth quarter valued at approximately $139,000. JPMorgan Chase & Co. boosted its holdings in Invuity by 5,196.9% in the first quarter. JPMorgan Chase & Co. now owns 47,672 shares of the medical instruments supplier’s stock valued at $184,000 after purchasing an additional 46,772 shares in the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in Invuity in the first quarter valued at approximately $289,000. CVI Holdings LLC acquired a new position in Invuity in the first quarter valued at approximately $302,000. Finally, Wells Fargo & Company MN boosted its holdings in Invuity by 25.3% in the first quarter. Wells Fargo & Company MN now owns 80,451 shares of the medical instruments supplier’s stock valued at $310,000 after purchasing an additional 16,253 shares in the last quarter. 58.04% of the stock is owned by hedge funds and other institutional investors.
About Invuity
Invuity, Inc, a medical technology company, develops and markets surgical devices in the United States and Asia. The company through its intelligent photonics technology platform develops single-use and reusable illuminated surgical devices, which provide surgeons with illumination and direct visualization of surgical cavities.
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