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How Wall Street Analysts View TransEnterix

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Jul. 13 2018, Published 1:13 p.m. ET

Stock performance

On July 12, TransEnterix (TRXC) stock closed at $4.44, reflecting a 2.78% growth from its prior day’s close of $4.32. On July 11, the stock rose 8.54% from its close of $3.98 on July 10.

On July 12, the stock closed at $4.44, which represents a 640% growth from its 52-week low of $0.60 on August 3, 2017.

TransEnterix is focused on the development of medical devices that use robotics to improve minimally invasive surgery. It’s also focused on developing technology that will address problems associated with laparoscopic and robotic procedures in the present value-based healthcare environment. 

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Recent development

On June 25, TransEnterix announced its addition to the Russell 2000 Index, effective June 25. Russell US indexes are used extensively by investors, institutional investors, and investment managers to create a benchmark for making investment strategies.

In May, TransEnterix entered into a debt financing agreement with Hercules Capital in which it will provide TransEnterix a loan of up to $40 million. The first $20 million tranche happened on May 23. TransEnterix will be able to draw the second $10 million tranche after achieving a certain Senhance system sales-related milestone. It will be able to draw the third tranche of $10 million after achievement of certain revenues from Senhance sales during the next six months.

According to the agreement, TransEnterix is only required to pay interest payments up to December 1, 2020. The final maturity date of the loan is June 1, 2022.

Analysts’ recommendations

Of the five analysts tracking TransEnterix in July, two of them have recommended a “strong buy,” and one has recommended a “buy.” Two analysts have recommended a “sell.”

On July 12, TransEnterix had a consensus 12-month target price of $4.50, which represents a 1.35% return on investment over the next 12 months.

Peer ratings

Of the 16 analysts tracking Baxter International (BAX) in July, 56% of them have recommended a “buy.” Of the 16 analysts tracking Align Technology (ALGN), 81% of them have recommended a “buy.” Of the 17 analysts tracking NuVasive (NUVA), 41% of them have recommended a “buy.”

On July 12, Baxter International, Align Technology, and NuVasive had consensus 12-month target prices of $78.86, $352.67, and $59.73, respectively, which represents a 5.46% growth, a 2.8% decline, and a 10.16% growth over the next 12 months.

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