BlackRock Inc. Acquires New Shares in CapsoVision, Inc. $CV

Key Points

• BlackRock acquired 1.90 million CapsoVision shares worth approximately $14.4 million, giving it a 3.8% stake. Several other institutional investors also initiated or increased positions in the medical-device company.
• Insider buying continued, with major shareholder Eliyahou Et Al Harari purchasing 81,300 shares for about $495,000; insiders bought 156,218 shares over the past three months.
• Analyst sentiment remains mixed, resulting in a consensus “Hold” rating and a $9.50 price target. CapsoVision reported a quarterly loss of $0.15 per share on $3.64 million in revenue, with shares recently trading at $5.97.

BlackRock Inc. purchased a new position in shares of CapsoVision, Inc. (NASDAQ:CV - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,896,088 shares of the company's stock, valued at approximately $14,372,000. BlackRock Inc. owned 3.80% of CapsoVision at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in CV. Bank of New York Mellon Corp bought a new stake in CapsoVision during the second quarter worth $569,000. State Street Corp grew its holdings in shares of CapsoVision by 340.7% during the 4th quarter. State Street Corp now owns 85,929 shares of the company's stock worth $919,000 after purchasing an additional 66,429 shares in the last quarter. Geode Capital Management LLC raised its position in CapsoVision by 34.1% during the fourth quarter. Geode Capital Management LLC now owns 154,264 shares of the company's stock valued at $1,649,000 after purchasing an additional 39,231 shares in the last quarter. Deutsche Bank AG bought a new stake in shares of CapsoVision during the 2nd quarter valued at approximately $263,000. Finally, Citadel Advisors LLC acquired a new position in CapsoVision in the 3rd quarter worth about $115,000.

Insider Activity at CapsoVision

In other news, major shareholder Eliyahou Et Al Harari bought 81,300 shares of the stock in a transaction dated Wednesday, July 8th. The stock was bought at an average price of $6.09 per share, for a total transaction of $495,117.00. Following the purchase, the insider directly owned 3,282,051 shares in the company, valued at $19,987,690.59. This trade represents a 2.54% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders purchased 156,218 shares of company stock valued at $1,007,902. Company insiders own 2.30% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on CV. Roth Capital started coverage on shares of CapsoVision in a research note on Friday, August 28th. They issued a "buy" rating and a $9.00 price objective on the stock. Benchmark reiterated a "speculative buy" rating on shares of CapsoVision in a research note on Friday, August 14th. Zacks Research raised CapsoVision to a "hold" rating in a report on Monday. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of CapsoVision in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $9.50.

CapsoVision Trading Up 0.7%

NASDAQ CV opened at $5.97 on Friday. The stock has a 50-day moving average of $6.51 and a 200-day moving average of $6.43. CapsoVision, Inc. has a 1-year low of $3.43 and a 1-year high of $15.37. The firm has a market cap of $298.80 million, a PE ratio of -12.70 and a beta of -2.47.

CapsoVision (NASDAQ:CV - Get Free Report) last issued its quarterly earnings data on Thursday, August 13th. The company reported ($0.15) EPS for the quarter. The firm had revenue of $3.64 million for the quarter. CapsoVision had a negative net margin of 214.74% and a negative return on equity of 177.85%. As a group, equities research analysts forecast that CapsoVision, Inc. will post -0.56 earnings per share for the current fiscal year.

CapsoVision Profile

CapsoVision, Inc NASDAQ: CV is a medical device company specializing in advanced capsule endoscopy systems for gastrointestinal diagnostics. The company’s flagship product, the CapsoCam® Plus System, features a swallowable, tether-free capsule equipped with four side-viewing cameras that capture high-resolution, 360-degree images of the small intestine. By storing images internally rather than transmitting data wirelessly, CapsoCam Plus enables patients to maintain normal daily activities during the procedure and reduces the risk of signal loss or image drop-out.

In addition to its capsule hardware, CapsoVision offers CapsoCloud®, a secure, cloud-based platform that streamlines image retrieval, storage and reporting.

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