- NYSEAMERICAN:TRXC furthered its gains on Friday adding another 4.02% to its price.
- TransEnterix reports sales of its Senhance surgical system in Russia.
- There is room for competition in the top-heavy robotic surgery industry.
NYSEAMERICAN:TRXC has been one of a handful of healthcare penny stocks that have surged over the first couple of trading weeks in 2021, as online investing platforms such as Reddit have thrown their money behind these companies. On Friday, TransEnterix gained a further 4.02% to close the trading week at $2.07, although the stock did briefly touch a new 52-week high price of $2.29. Shares have now added nearly 200% so far in 2021, as investor interest has caused the trading volume to reach record levels.
It is unclear what exactly the trigger was for TransEnterix this week, but the company did report that it had successfully sold some of its Senhance surgical systems to medical practitioners in Russia, as well as using those Senhance systems to perform its first pediatric surgeries. Additionally, TransEnterix did give 2021 guidance as somewhere between $3 million and $3.2 million, which would represent a year-over-year increase from last year’s $2.75 million. In case you were wondering, TransEnterix builds robotic surgeries systems like Senhance, which specialize in procedures such as laparoscopies.
TRXC stock forecast
At the end of the day, it is often difficult to determine if investors are actually in love with the company or if the price was just being pumped up to make a quick profit. For what it's worth the robotic surgery does lack competition after the industry leader Intuitive Surgical (NASDAQ:ISRG) which has a $90 billion market cap. It has been long rumored that other healthcare giants like Johnson & Johnson (NYSE:JNJ) may get involved, but thus far those rumors have yet to play out.
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