Trans Enterix

($TRXC)

TransEnterix is a medical device company pioneering the use of robotics to improve minimally invasive surgeries. The company is focused on the commercialization of their Senhance Surgical System, a robotic system for surgeons. Since the beginning of the new year the company has seen a spike in its share price from $0.62 at the beginning of January to a current value of $4.21.

 

Big reason for this growth is driven by the fact that on 21.01.2021 TransEnterix received CE mark certification for its Intelligent Surgical Unit (ISU), an addition to the company’s Senhance Surgical System that arms it with machine-vision capabilities.

 

The machine-vision technology gives the robotic-assisted laparoscopy platform the ability to recognize certain objects and locations in the surgical field. The unit also shares the surgeon’s console view in real-time across the entire operating room for improved collaboration among surgical teams. This ISU is compatible with Senhance Surgical Systems already installed and with third-party vision systems that are currently supported by Senhance.¨

 

Another reason for the increase in share price is partly driven by Zack’s which gives TRXC a Rank of #2, (Buy), due to the full-year earnings moving 52.51% higher within the company over the past quarter. It has also been reported that with a gain of 577.42% so far this year, while the Medical stocks have only gained an average of 4.84% this year across the industry, TRXC is preforming better than the rest of its sector in terms of year-to-date returns.

 

On Feb 1st, TRXC announced that it will be closing the previously announced underwritten public offering of its common stock. This paired with the company allowing the full exercise of the underwriter’s option to purchase additional shares allowed the company to issue 26,545,832 shares at a PO price of $3.00 per share. The gross income from this proceeds is expected to bring the company $79.64 million

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