Invuity (NASDAQ:IVTY)‘s stock had its “buy” rating reaffirmed by equities research analysts at Northland Securities in a research report issued on Wednesday, February 14th. They currently have a $6.00 price target on the medical instruments supplier’s stock. Northland Securities’ price target points to a potential upside of 42.18% from the company’s current price.
The analysts wrote, “We would be remiss in not expressing our disappointment, and are lowering our PT to $6.””
A number of other research firms have also weighed in on IVTY. Piper Jaffray Companies reissued a “buy” rating and issued a $12.00 target price on shares of Invuity in a research note on Friday, November 10th. Zacks Investment Research lowered shares of Invuity from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $8.50.
Shares of Invuity (NASDAQ:IVTY) traded down $0.03 during trading on Wednesday, reaching $4.22. 33,521 shares of the company were exchanged, compared to its average volume of 255,214. Invuity has a 1 year low of $3.30 and a 1 year high of $9.70. The company has a debt-to-equity ratio of -33.85, a quick ratio of 2.47 and a current ratio of 2.55.
Invuity (NASDAQ:IVTY) last issued its quarterly earnings results on Tuesday, February 13th. The medical instruments supplier reported ($0.43) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.50) by $0.07. Invuity had a negative net margin of 100.75% and a negative return on equity of 380.14%. The firm had revenue of $11.23 million for the quarter, compared to analyst estimates of $11.84 million. sell-side analysts forecast that Invuity will post -1.84 EPS for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlueCrest Capital Management Ltd purchased a new position in Invuity in the 4th quarter worth approximately $139,000. Eversept Partners LLC purchased a new position in Invuity in the 4th quarter worth approximately $279,000. CAPROCK Group Inc. lifted its stake in Invuity by 28.6% in the 3rd quarter. CAPROCK Group Inc. now owns 45,000 shares of the medical instruments supplier’s stock worth $401,000 after purchasing an additional 10,000 shares in the last quarter. OxFORD Asset Management LLP purchased a new position in Invuity in the 2nd quarter worth approximately $374,000. Finally, Wells Fargo & Company MN lifted its stake in Invuity by 987.0% in the 4th 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 in the last quarter. 63.59% of the stock is currently owned by institutional investors and hedge funds.
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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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