Invuity (IVTY) Cut to Neutral at Piper Jaffray Companies

Piper Jaffray Companies lowered shares of Invuity (NASDAQ:IVTY) from an overweight rating to a neutral rating in a research note published on Tuesday, September 11th, The Fly reports.

Several other equities analysts have also 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 raised Invuity from a hold rating to a buy rating and set a $4.25 price objective for the company in a research report on Thursday, July 5th. Finally, William Blair lowered Invuity from an outperform rating to a market perform rating in a research report on Tuesday, September 11th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $6.81.

Invuity stock traded up $0.02 on Tuesday, hitting $7.41. 371,467 shares of the stock traded hands, compared to its average volume of 322,368. The company has a current ratio of 2.13, a quick ratio of 1.69 and a debt-to-equity ratio of 10.57. The firm has a market capitalization of $178.15 million, a P/E ratio of -3.37 and a beta of 0.01. Invuity has a 1 year low of $2.35 and a 1 year high of $9.55.

Invuity (NASDAQ:IVTY) last announced its quarterly earnings data on Thursday, August 2nd. The medical instruments supplier reported ($0.37) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.10. The business had revenue of $10.50 million during the quarter, compared to analyst estimates of $10.73 million. Invuity had a negative return on equity of 724.87% and a negative net margin of 89.29%. Analysts predict that Invuity will post -1.41 earnings per share for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp raised its position in shares of Invuity by 32.4% in the 2nd quarter. Northern Trust Corp now owns 45,244 shares of the medical instruments supplier’s stock worth $176,000 after purchasing an additional 11,073 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of 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 last quarter. BlackRock Inc. raised its position in shares of Invuity by 43.4% in the 2nd quarter. BlackRock Inc. now owns 56,511 shares of the medical instruments supplier’s stock worth $221,000 after purchasing an additional 17,091 shares during the last quarter. Spark Investment Management LLC raised its position in shares of Invuity by 138.2% in the 2nd quarter. Spark Investment Management LLC now owns 45,500 shares of the medical instruments supplier’s stock worth $177,000 after purchasing an additional 26,400 shares during the last quarter. Finally, Kornitzer Capital Management Inc. KS raised its position in shares of Invuity by 38.1% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 103,600 shares of the medical instruments supplier’s stock worth $404,000 after purchasing an additional 28,600 shares during the last quarter. 59.95% 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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