TransEnterix, Inc. (NYSEAMERICAN:TRXC)’s share price dropped 12.9% on Wednesday following a dissappointing earnings announcement. The company traded as low as $0.25 and last traded at $0.27, approximately 3,090,300 shares changed hands during mid-day trading. An increase of 11% from the average daily volume of 2,774,130 shares. The stock had previously closed at $0.31.
The medical instruments supplier reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $2.02 million during the quarter, compared to analysts’ expectations of $4.68 million.
Several brokerages have recently weighed in on TRXC. Zacks Investment Research downgraded TransEnterix from a “hold” rating to a “sell” rating in a report on Thursday, October 10th. Royal Bank of Canada downgraded TransEnterix from an “outperform” rating to a “sector perform” rating and set a $1.00 price target for the company. in a report on Thursday, August 8th.
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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