TransEnterix (NYSEAMERICAN:TRXC) Sees Large Volume Increase

TransEnterix, Inc. (NYSEAMERICAN:TRXC) saw unusually-high trading volume on Tuesday . Approximately 32,903,400 shares traded hands during trading, an increase of 695% from the previous session’s volume of 4,140,698 shares.The stock last traded at $1.58 and had previously closed at $1.47.

Separately, Zacks Investment Research upgraded TransEnterix from a “hold” rating to a “buy” rating and set a $0.25 target price on the stock in a research report on Saturday, November 16th.

TransEnterix (NYSEAMERICAN:TRXC) last announced its earnings results on Tuesday, November 12th. The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.02). The firm had revenue of $2.02 million during the quarter, compared to analyst estimates of $4.68 million.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new position in shares of TransEnterix in the second quarter valued at approximately $27,000. Tradewinds Capital Management LLC increased its position in shares of TransEnterix by 225.2% during the third quarter. Tradewinds Capital Management LLC now owns 77,400 shares of the medical instruments supplier’s stock worth $48,000 after purchasing an additional 53,600 shares in the last quarter. Brown Advisory Inc. acquired a new position in TransEnterix in the 2nd quarter valued at $91,000. A.R.T. Advisors LLC acquired a new position in TransEnterix in the 2nd quarter valued at $108,000. Finally, Prospera Financial Services Inc raised its stake in TransEnterix by 38.3% in the 3rd quarter. Prospera Financial Services Inc now owns 208,600 shares of the medical instruments supplier’s stock valued at $129,000 after purchasing an additional 57,800 shares during the last quarter.

TransEnterix Company Profile (NYSEAMERICAN:TRXC)

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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