Invuity Gets a Buy Rating from Northland Securities

By Ryan Adsit

In a report released today, Suraj Kalia from Northland Securities reiterated a Buy rating on Invuity (NASDAQ: IVTY), with a price target of $13. The company’s shares opened today at $7.70.

According to TipRanks.com, Kalia is a 3-star analyst with an average return of 4.3% and a 50.6% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Xtant Medical Holdings, Edwards Lifesciences, and Intuitive Surgical.

Invuity has an analyst consensus of Moderate Buy, with a price target consensus of $13.

Based on Invuity’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $9.02 million and GAAP net loss of $13.22 million. In comparison, last year the company earned revenue of $6.4 million and had a GAAP net loss of $12.11 million.

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Invuity, Inc. is a medical technology company, which engages in the development and market of surgical and medical devices. Its products include retractors, handhelds, and drop-ins under the Photonics and PhotonBlade brands. The company was founded by Kenneth B. Trauner and Alex Vayser on November 29, 2004 and is headquartered in San Francisco, CA.