Shares of Invuity Inc (NASDAQ:IVTY) have been given an average rating of “Hold” by the seven brokerages that are currently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $5.13.
IVTY has been the topic of a number of recent research reports. ValuEngine raised Invuity from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Zacks Investment Research raised Invuity from a “hold” rating to a “buy” rating and set a $4.25 target price on the stock in a report on Thursday, July 5th. William Blair cut Invuity from an “outperform” rating to a “market perform” rating in a report on Tuesday. Piper Jaffray Companies cut Invuity from an “overweight” rating to a “neutral” rating in a report on Tuesday. Finally, Stifel Nicolaus cut Invuity from a “buy” rating to a “hold” rating in a report on Tuesday.
A number of institutional investors have recently made changes to their positions in IVTY. Wells Fargo & Company MN raised its holdings in Invuity by 25.3% in the 1st quarter. Wells Fargo & Company MN now owns 80,451 shares of the medical instruments supplier’s stock worth $310,000 after purchasing an additional 16,253 shares during the period. Neuberger Berman Group LLC bought a new position in Invuity in the 1st quarter worth $485,000. JPMorgan Chase & Co. raised its holdings in Invuity by 5,196.9% in the 1st quarter. JPMorgan Chase & Co. now owns 47,672 shares of the medical instruments supplier’s stock worth $184,000 after purchasing an additional 46,772 shares during the period. Cannell Capital LLC bought a new position in Invuity in the 1st quarter worth $4,235,000. Finally, CVI Holdings LLC bought a new position in Invuity in the 1st quarter worth $302,000. 59.95% of the stock is currently owned by institutional investors.
NASDAQ IVTY opened at $7.35 on Tuesday. The company has a debt-to-equity ratio of 10.57, a quick ratio of 1.69 and a current ratio of 2.13. Invuity has a 1-year low of $2.35 and a 1-year high of $9.55.
Invuity (NASDAQ:IVTY) last released its quarterly earnings results on Thursday, August 2nd. The medical instruments supplier reported ($0.37) earnings per share for the quarter, beating the consensus estimate of ($0.47) by $0.10. Invuity had a negative return on equity of 837.22% and a negative net margin of 89.29%. The firm had revenue of $10.50 million for the quarter, compared to analysts’ expectations of $10.73 million. analysts forecast that Invuity will post -1.41 earnings per share for the current fiscal year.
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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