Shares of TransEnterix (NYSEMKT: TRXC), a medical device company marketing the Senhance robot-assisted surgical system, are plunging again in response to a dismal second-quarter earnings report. Investors disturbed by a lack of new system sales drove the stock 21.7% lower on Thursday. In 2018 Transenterix sold an encouraging 15 Senhance robots.
Full Answer
Why is transenterix stock plunging again?
Aug 08, 2019 · Shares of TransEnterix (NYSEMKT: TRXC), a medical device company marketing the Senhance robot-assisted surgical system, are plunging again in response to a dismal second-quarter earnings report....
What is the ticker symbol for transenterix?
Jan 04, 2018 · 10 stocks we like better than TransEnterix When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley ...
Will transenterix's (TRX) earnings grow in the coming year?
Jul 08, 2019 · Shares of TransEnterix (NYSEMKT: TRXC) lost a staggering 39.8% of their value over the first half of 2019, according to data from S&P Global Market Intelligence. What spooked investors? The robotic...
What does transenterix do?
Shares of TransEnterix ( NYSEMKT:ASXC) lost a staggering 39.8% of their value over the first half of 2019, according to data from S&P Global Market Intelligence. What …
What happened to TransEnterix inc?
RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--TransEnterix, Inc. (NYSE American:TRXC), a medical device company that is digitizing the interface between the surgeon and the patient to improve minimally invasive surgery, today announced that it will change its corporate name to Asensus Surgical, Inc.Feb 23, 2021
Is TransEnterix a good stock?
If the steep decline in revenue from instruments and accessories reported in the first nine months of 2020 continues, this stock will tank again. If instruments and accessories for Senhance Systems rebound and rise sharply, this could become a good stock to buy.Feb 27, 2021
Why did TransEnterix change their name?
However, if you do a Google search for TRXC stock, you may come across some strange results. That's because Transenterix changed its name recently to Asensus Surgical (NYSEAMERICAN:ASXC), reflecting management's decision to focus on the company's Senhance Surgical System.Mar 23, 2021
What is TRXC?
Asensus Surgical , Inc. (NYSE American: TRXC) (formerly TransEnterix, Inc.), a medical device company that is digitizing the interface between the surgeon and patient to pioneer a new era of Performance-Guided...Mar 4, 2021
Will TRXC stock go up?
Ladenburg Thalmann does not see either upside or downside right now giving TRXC "" on their last update on Jan 20, 2021. The price target was changed from 3.47 to 0.57....Predicted Opening Price for TransEnterix, Inc of Wednesday, April 6, 2022.Fair opening price April 6, 2022Current price$0.70$0.70 (Undervalued)
Is ascensus surgical a good stock to buy?
An attractively valued growth stock Considering analysts' revenue estimates for 2021 and 2022, the company should realistically grow its revenue well over 20% annually in the years ahead.Jan 18, 2022
What is TransEnterix called now?
TransEnterix has changed its corporate name to Asensus Surgical, reflecting the firm's vision to shape surgery's future by integrating computer vision and machine learning with surgical robotics.Feb 24, 2021
Who owns Asensus Surgical?
Who owns ASENSUS SURGICAL? ASENSUS SURGICAL (NYSEMKT: ASXC) is owned by 28.61% institutional shareholders, 67.15% ASENSUS SURGICAL insiders, and 4.24% retail investors. Stepstone Group Holdings LLC is the largest individual ASENSUS SURGICAL shareholder, owning 29.19M shares representing 12.35% of the company.
What is Tronclassic?
TRONCLASSIC (TRXC) is a cryptocurrency and operates on the Ethereum platform. TRONCLASSIC has a current supply of 1,000,000,000,000 with 0 in circulation.
What happened
Shares of TransEnterix (NYSEMKT: TRXC) , a commercial-stage robotic-surgery company, fell 17.5% in December according to data from S&P Global Market Intelligence . The decline has this Fool scratching his head because the only news out of the company during the month was positive.
So what
Investors learned mid-month that TrasnEnterix had sold its SurgiBot assets to a Chinese-based medical-equipment provider. The company is slated to receive at least $29 million from the transaction as a series of payments.
Now what
Short-term price movements aside, this company's fate still hinges on a successful launch of the Senhance System. While the company did record its first U.S. sale already, it's still far too early to draw any real conclusions about the market's reaction to the device.
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What happened
Shares of TransEnterix (NYSEMKT: TRXC) lost a staggering 39.8% of their value over the first half of 2019, according to data from S&P Global Market Intelligence. What spooked investors?
So what
Last year, Senhance's commercial launch got off to a blistering start, with the company selling a whopping 15 systems worldwide and hauling in a handsome $24 million in revenue in the process. Wall Street, in turn, was clearly expecting more of the same this year.
Now what
On the bright side, short-sellers have started to back away from TransEnterix over the past six months. Short interest in this stock, in fact, has fallen by over 11% from where it stood at the end of 2018. That's an encouraging sign that the worst might be over for TransEnterix.
Investors were none too pleased with the robotic surgery specialist's first-quarter earnings report
George Budwell has been writing about healthcare and biotechnology companies at the Motley Fool since 2013. His primary interests are novel small molecule drugs, next generation vaccines, and cell therapies.
What happened
Shares of TransEnterix ( NYSEMKT:ASXC) lost a staggering 39.8% of their value over the first half of 2019, according to data from S&P Global Market Intelligence. What spooked investors?
So what
Last year, Senhance's commercial launch got off to a blistering start, with the company selling a whopping 15 systems worldwide and hauling in a handsome $24 million in revenue in the process. Wall Street, in turn, was clearly expecting more of the same this year.
Now what
On the bright side, short-sellers have started to back away from TransEnterix over the past six months. Short interest in this stock, in fact, has fallen by over 11% from where it stood at the end of 2018. That's an encouraging sign that the worst might be over for TransEnterix.
What is Senhance used for?
Now what. The Senhance Surgical System can be used for multiple types of minimally-invasive laparoscopic surgeries in the chest, abdomen, and pelvis. Surgeons perform more than 6 million procedures in these areas in the U.S. and Europe every year.
What is ISU in surgery?
TransEnterix received approval in Europe on Tuesday for its Intelligent Surgical Unit (ISU), which adds machine-vision functions to the Senhance Surgical System. Senhance digital laparoscopic surgery programs in Europe will now have access to this innovative augmented-intelligence technology.
Is TransEnterix a buy right now?
2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for TransEnterix in the last twelve months. There are currently 2 hold ratings for the stock. The consensus among Wall Street analysts is that investors should "hold" TransEnterix stock.
What stocks does MarketBeat like better than TransEnterix?
Wall Street analysts have given TransEnterix a "Hold" rating, but there may be better buying opportunities in the stock market. Some of MarketBeat's past winning trading ideas have resulted in 5-15% weekly gains. MarketBeat just released five new stock ideas, but TransEnterix wasn't one of them.
How were TransEnterix's earnings last quarter?
TransEnterix, Inc. (NYSEAMERICAN:TRXC) issued its quarterly earnings data on Thursday, November, 5th. The medical instruments supplier reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.11.
Who are some of TransEnterix's key competitors?
Some companies that are related to TransEnterix include Silk Road Medical (SILK), MiMedx Group (MDXG), Inovio Pharmaceuticals (INO), Sight Sciences (SGHT), Treace Medical Concepts (TMCI), Pulmonx (LUNG), Cardiovascular Systems (CSII), iRhythm Technologies (IRTC), Alphatec (ATEC), Atrion (ATRI), OrthoPediatrics (KIDS), LeMaitre Vascular (LMAT), Cerus (CERS), AngioDynamics (ANGO) and CryoLife (CRY).#N#View all of TRXC's competitors..
What other stocks do shareholders of TransEnterix own?
Based on aggregate information from My MarketBeat watchlists, some companies that other TransEnterix investors own include Oramed Pharmaceuticals (ORMP), Compugen (CGEN), Editas Medicine (EDIT), Ekso Bionics (EKSO), Actinium Pharmaceuticals (ATNM), XOMA (XOMA), Geron (GERN), OPKO Health (OPK), NVIDIA (NVDA) and Advanced Micro Devices (AMD).
What is TransEnterix's stock symbol?
TransEnterix trades on the New York Stock Exchange (NYSE)AMERICAN under the ticker symbol "TRXC."
How do I buy shares of TransEnterix?
Shares of TRXC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.#N#Compare Top Brokerages Here.
Summary
In July, TransEnterix (TRXC) announced a very strange asset sale that we don’t think makes sense.
TransEnterix Recent Planned Asset Sale Is Nonsensical
On 7/10/19, TRXC announced the sale of its AutoLap assets to a Chinese healthcare investment company called Great Belief International Limited ("GBIL"). TRXC acquired these assets on 9/23/18 from MST, an Israeli medical technology company. Clearly, these assets are not doing much to help sales, given the small Senhance sales numbers.
What Kind Of Company Is Great Belief International Limited?
We’re not even sure exactly what kind of a company Great Belief International Limited ("GBIL") is or what it does. It doesn’t appear to have a website. In the asset sale filing it says:
Hercules Financial Has Cut TransEnterix Off From More Loans
Recapped in the Autolap asset sale filing, Hercules Capital had loaned TRXC $30M, with TRXC having the option to borrow another $10M. Then, due to the sale of its Autolap assets, TRXC will have to repay $15M of the $30M.
With Excessive Cash Burn, Bankruptcy May Be Near
TRXC consistently burns over $20M per quarter. The company only reported $33M in cash on 6/30/19. That will only last one and a half quarters, assuming the company doesn’t repay the $15M in debt. If the company receives $47M from the asset sale, its cash would last until 6/30/20.
Questions For TransEnterix Management
The following are questions that we emailed management on 8/15/19 after trying for days to call the company and IR and the phone kept ringing, we weren’t even able to get to a voicemail.
