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Should You Avoid Transenterix Inc (TRXC)?

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With the third-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the fourth quarter. One of these stocks was Transenterix Inc (NYSEMKT:TRXC).

Is Transenterix Inc (NYSEMKT:TRXC) a buy, sell, or hold? Investors who are in the know are selling. The number of bullish hedge fund positions shrunk by 3 lately. TRXC was in 10 hedge funds’ portfolios at the end of September. There were 13 hedge funds in our database with TRXC holdings at the end of the previous quarter. At the end of this article we will also compare TRXC to other stocks including POZEN Inc. (NASDAQ:POZN), TransGlobe Energy Corporation (USA) (NASDAQ:TGA), and Primo Water Corporation (NASDAQ:PRMW) to get a better sense of its popularity.

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According to most stock holders, hedge funds are perceived as worthless, outdated investment tools of the past. While there are greater than an 8000 funds in operation today, Our researchers hone in on the moguls of this club, around 700 funds. Most estimates calculate that this group of people control bulk of the smart money’s total capital, and by tracking their matchless stock picks, Insider Monkey has unearthed various investment strategies that have historically surpassed the broader indices. Insider Monkey’s small-cap hedge fund strategy defeated the S&P 500 index by 12 percentage points per annum for a decade in their back tests.

Now, we’re going to check out the key action regarding Transenterix Inc (NYSEMKT:TRXC).

What have hedge funds been doing with Transenterix Inc (NYSEMKT:TRXC)?

At Q3’s end, a total of 10 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -23% from one quarter earlier. With hedgies’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Aisling Capital, managed by Dennis Purcell, holds the biggest position in Transenterix Inc (NYSEMKT:TRXC). Aisling Capital has a $18.8 million position in the stock, comprising 3.3% of its 13F portfolio. Sitting at the No. 2 spot is Stepstone Group, led by Jose Fernandez, holding a $7.9 million position; the fund has 3.7% of its 13F portfolio invested in the stock. Other hedge funds and institutional investors that are bullish include Mike Masters’ Masters Capital Management, Ken Griffin’s Citadel Investment Group and Joseph Edelman’s Perceptive Advisors.

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