TransEnterix (TRXC) Posts In-Line Loss in Q3, Sales Fall Y/Y
TransEnterix Inc. TRXC posted a loss of 9 cents per share in third-quarter 2017, in line with the Zacks Consensus Estimate. The company incurred a loss of 11 cents in the year-ago quarter.
In the reported quarter, total revenues declined to $0.2 million from $1.5 million in the year-ago quarter. The downside can be attributed to deferred service revenues from previous system sales.
Operational Details
In the reported quarter, total operating expenses were $37.8 million compared with $14.0 million in the year-ago quarter.
Research and development expenses declined from $7.0 million in the year-ago quarter to $4.9 million. This was primarily due to the timing of work conducted to prepare FDA submission.
Sales and marketing expenses in the reported quarter rose to approximately $4.5 million from $2.6 million in the prior-year quarter. This was primarily related to headcount growth and other expenses from commercial expansion in Europe.
General and administrative expenses increased to approximately $2.9 million from $2.8 million in the prior-year quarter. This was primarily due to extended support to European commercial investment.
Overall net loss was $38.5 million, wider than $12.9 million in the prior-year quarter.
TransEnterix, Inc. Price, Consensus and EPS Surprise
TransEnterix, Inc. Price, Consensus and EPS Surprise | TransEnterix, Inc. Quote
Financial Condition
As of Sep 30, 2017, TransEnterix had $24.5 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).
A few better-ranked medical stocks are PetMed Express, Inc. PETS, Luminex Corporation LMNX and Intuitive Surgical, Inc. ISRG. While PetMed and Luminex sport a Zacks Rank #1 (Strong Buy), Intuitive Surgical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
PetMed reported earnings per share of 43 cents in the second quarter of fiscal 2018, up 79.2% from the year-ago quarter’s 24 cents. Gross margin expanded 548 bps year over year to 35.2% in the reported quarter.
Luminex reported adjusted earnings per share of 19 cents in the third quarter of 2017, up 216.7% year over year. The company’s revenues in the quarter increased almost 4.1% year over year to $74.1 million.
Intuitive Surgical posted adjusted earnings of $2.77 per share in the third quarter of 2017, up 34.5% on a year-over-year basis. Also, revenues increased 18% year over year to $806.1 million.
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