Insight Advisors LLC PA Sells 50,700 Shares of Asensus Surgical, Inc. (NYSE:ASXC)

Insight Advisors LLC PA reduced its holdings in Asensus Surgical, Inc. (NYSE:ASXC) by 23.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 164,500 shares of the company’s stock after selling 50,700 shares during the quarter. Insight Advisors LLC PA owned about 0.07% of Asensus Surgical worth $392,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Bank of New York Mellon Corp increased its holdings in Asensus Surgical by 900.4% in the second quarter. Bank of New York Mellon Corp now owns 697,924 shares of the company’s stock worth $2,213,000 after purchasing an additional 628,157 shares in the last quarter. BlackRock Inc. grew its stake in Asensus Surgical by 525.9% in the second quarter. BlackRock Inc. now owns 15,707,051 shares of the company’s stock valued at $49,792,000 after acquiring an additional 13,197,435 shares during the period. Deutsche Bank AG grew its stake in Asensus Surgical by 135.9% in the second quarter. Deutsche Bank AG now owns 680,743 shares of the company’s stock valued at $2,157,000 after acquiring an additional 392,143 shares during the period. Principal Financial Group Inc. acquired a new stake in Asensus Surgical in the second quarter valued at approximately $266,000. Finally, Cambridge Investment Research Advisors Inc. grew its stake in Asensus Surgical by 42.1% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 45,571 shares of the company’s stock valued at $144,000 after acquiring an additional 13,507 shares during the period. Institutional investors and hedge funds own 24.76% of the company’s stock.

ASXC stock opened at $1.88 on Friday. The stock’s fifty day simple moving average is $2.20 and its two-hundred day simple moving average is $2.55. Asensus Surgical, Inc. has a 1-year low of $0.33 and a 1-year high of $6.95. The stock has a market cap of $440.53 million, a P/E ratio of -4.48 and a beta of 1.50.

Asensus Surgical (NYSE:ASXC) last issued its earnings results on Wednesday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $1.10 million for the quarter, compared to analyst estimates of $1.63 million. Asensus Surgical had a negative return on equity of 35.38% and a negative net margin of 1,162.78%. As a group, equities research analysts forecast that Asensus Surgical, Inc. will post -0.26 earnings per share for the current year.

Separately, Zacks Investment Research raised Asensus Surgical from a “hold” rating to a “buy” rating and set a $2.25 price objective for the company in a research note on Thursday.

Asensus Surgical Company Profile

Asensus Surgical, Inc is a medical device company, which digitizes the interface between the surgeon and the patient to improve minimally invasive surgery through digital laparoscopy. It enables the use of advanced capabilities like augmented intelligence, connectivity and robotics in laparoscopy, and addresses the current clinical, cognitive, economic shortcomings in surgery.

See Also: Initial Coin Offering (ICO)

Institutional Ownership by Quarter for Asensus Surgical (NYSE:ASXC)

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