We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
TransEnterix (TRXC) Reports Wider-than-Expected Loss in Q1
Read MoreHide Full Article
TransEnterix, Inc. reported a loss of 13 cents per share in the first quarter of 2017, wider than the Zacks Consensus Estimate of a loss of 12 cents. The company had incurred a loss of 12 cents in the year-ago quarter.
In the reported quarter, TransEnterix posted total revenues of $1.95 million versus no revenue in the year-ago quarter. The top line came marginally below the Zacks Consensus Estimate of $2 million. Revenues in the reported quarter primarily came from the sale of a Senhance Surgical Robotic System to St. Marien-Krankenhaus Siegen, a large multi-specialty hospital.
Stock Performance
The price performance of the stock has been unfavorable in the last three months. TransEnterix incurred a loss of 57.53%, underperforming the Zacks classified Medical - Instruments sub-industry’s gain of almost 6.61%.
Operational Details
In the reported quarter, total operating expenses were $16.5 million compared with $15.0 million in the year-ago quarter.
Research and development expense decreased from $8.4 million in the year-ago quarter to $6.9 million. This was primarily due to the timing of work conducted to prepare FDA submission.
Sales and marketing expenses in the reported quarter increased to approximately $3.7 million from $1.7 million in the prior-year period. This was primarily related to headcount growth and other expenses from commercial expansion in Europe.
General and administrative expenses in the reported quarter increased to approximately $3.0 million from $2.2 million in the prior-year period. This was primarily due to extended support to European commercial investment.
Overall, net loss came in at $15.4 million compared with a net loss of $12.9 million in the prior-year period.
Financial Condition
As of Mar 31, 2017, TransEnterix had $13.1 million in cash and cash equivalents versus $24.2 million as of Dec 31, 2016.
Zacks Rank & Key Picks
Currently, TransEnterix carries a Zacks Rank #3 (Hold).
Regeneron Pharmaceuticals has climbed 18% in the last one year, compared with the S&P 500’s return of 16.0%. It has a trailing four-quarter average positive earnings surprise of 0.45%.
Bio-Rad Laboratories has surged 55.7% in the past one year, better than the S&P 500 mark. It has a four-quarter average earnings surprise of 13.10%.
Baxter International has returned 23.1% in the last one year, in comparison to the S&P 500. It has a four-quarter average positive earnings surprise of 17.14%.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
TransEnterix (TRXC) Reports Wider-than-Expected Loss in Q1
TransEnterix, Inc. reported a loss of 13 cents per share in the first quarter of 2017, wider than the Zacks Consensus Estimate of a loss of 12 cents. The company had incurred a loss of 12 cents in the year-ago quarter.
In the reported quarter, TransEnterix posted total revenues of $1.95 million versus no revenue in the year-ago quarter. The top line came marginally below the Zacks Consensus Estimate of $2 million. Revenues in the reported quarter primarily came from the sale of a Senhance Surgical Robotic System to St. Marien-Krankenhaus Siegen, a large multi-specialty hospital.
Stock Performance
The price performance of the stock has been unfavorable in the last three months. TransEnterix incurred a loss of 57.53%, underperforming the Zacks classified Medical - Instruments sub-industry’s gain of almost 6.61%.
Operational Details
In the reported quarter, total operating expenses were $16.5 million compared with $15.0 million in the year-ago quarter.
Research and development expense decreased from $8.4 million in the year-ago quarter to $6.9 million. This was primarily due to the timing of work conducted to prepare FDA submission.
Sales and marketing expenses in the reported quarter increased to approximately $3.7 million from $1.7 million in the prior-year period. This was primarily related to headcount growth and other expenses from commercial expansion in Europe.
General and administrative expenses in the reported quarter increased to approximately $3.0 million from $2.2 million in the prior-year period. This was primarily due to extended support to European commercial investment.
Overall, net loss came in at $15.4 million compared with a net loss of $12.9 million in the prior-year period.
Financial Condition
As of Mar 31, 2017, TransEnterix had $13.1 million in cash and cash equivalents versus $24.2 million as of Dec 31, 2016.
Zacks Rank & Key Picks
Currently, TransEnterix carries a Zacks Rank #3 (Hold).
Better-ranked medical stocks include Regeneron Pharmaceuticals, Inc. (REGN - Free Report) , Bio-Rad Laboratories, Inc. (BIO - Free Report) and Baxter International Inc. (BAX - Free Report) . Regeneron Pharmaceuticals and Bio-Rad Laboratories sport a Zacks Rank #1 (Strong Buy), while Baxter International carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Regeneron Pharmaceuticals has climbed 18% in the last one year, compared with the S&P 500’s return of 16.0%. It has a trailing four-quarter average positive earnings surprise of 0.45%.
Bio-Rad Laboratories has surged 55.7% in the past one year, better than the S&P 500 mark. It has a four-quarter average earnings surprise of 13.10%.
Baxter International has returned 23.1% in the last one year, in comparison to the S&P 500. It has a four-quarter average positive earnings surprise of 17.14%.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course.
Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>