Northland Securities Issues a Buy Rating on Invuity

By Carrie Williams

Northland Securities analyst Suraj Kalia assigned a Buy rating to Invuity (NASDAQ: IVTY) today and set a price target of $6. The company’s shares opened today at $3.90, close to its 52-week low of $3.75.

Kalia said:

“We would be remiss in not expressing our disappointment, and are lowering our PT to $6.”

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 4.7% and a 51.7% success rate. Kalia covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, ReShape Lifesciences Inc, and Obalon Therapeutics Inc.

Invuity has an analyst consensus of Moderate Buy, with a price target consensus of $6.

Based on Invuity’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $11.23 million and GAAP net loss of $7.41 million. In comparison, last year the company earned revenue of $9.36 million and had a GAAP net loss of $9.55 million.

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Invuity, Inc. is a medical technology company, which engages in the development and marketing 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.