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What’s Driving TransEnterix Stock on January 8?

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Jan. 8 2019, Published 11:55 a.m. ET

Share price movements

On January 8, TransEnterix (TRXC) rose 11.15% compared to its previous closing price and reached $2.99 in its pre-market trading session.

On January 7, TransEnterix issued a press release announcing its preliminary operational and financial performance for the fourth quarter and fiscal 2018. The company expects the revenues for fiscal 2018 to be $24 million—a rise of 238% year-over-year. According to the press release, the company sold 15 Senhance Systems in fiscal 2018.

Based on the closing price on January 7, TransEnterix reported returns of 9.80% in the last week, -13.50% in the last month, and -53.70% in the last quarter. TransEnterix also reported returns of -33.42% in the last half year, 24.54% in the last year, and 19.03% YTD (year-to-date).

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Based on TransEnterix’s closing price on January 7, the broader medical device industry in the United States, represented by the iShares US Medical Devices ETF (IHI), reported returns of -0.36% in the last week, -7.20% in the last month, and -10.50% in the last quarter. IHI also reported returns of -4.17% in the last half year, 10.11% in the last year, and -1.84% YTD.

Analysts’ recommendations and target price

On January 8, analysts’ 12-month consensus recommendation for TransEnterix is a “buy.” The 12-month consensus target price for the company is $5.00, which is 86.57% higher than its last closing price on January 7. The highest target price estimate for the company is $5.5, while the lowest target price estimate is $4.5.

Among the five analysts covering TransEnterix on January 8, two recommended a “strong buy,” recommended a “buy,” and two recommended a “hold.”

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