Insider Buying: CapsoVision (NASDAQ:CV) Major Shareholder Purchases $4,999,996.46 in Stock

CapsoVision, Inc. (NASDAQ:CV) major shareholder Ching Hang Shen bought 878,734 shares of the company’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $5.69 per share, for a total transaction of $4,999,996.46. Following the completion of the acquisition, the insider directly owned 2,926,655 shares in the company, valued at approximately $16,652,666.95. This trade represents a 42.91% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

CapsoVision Trading Up 5.8%

Shares of CapsoVision stock traded up $0.37 during trading on Friday, reaching $6.70. The stock had a trading volume of 1,614,307 shares, compared to its average volume of 250,210. The company has a market capitalization of $335.33 million, a price-to-earnings ratio of -14.26 and a beta of -2.47. The stock has a fifty day moving average price of $6.40 and a two-hundred day moving average price of $6.52. CapsoVision, Inc. has a 52 week low of $4.34 and a 52 week high of $15.37.

CapsoVision (NASDAQ:CV) last announced its earnings results on Thursday, August 13th. The company reported ($0.15) EPS for the quarter. CapsoVision had a negative return on equity of 177.85% and a negative net margin of 214.74%.The business had revenue of $3.64 million for the quarter. On average, equities analysts forecast that CapsoVision, Inc. will post -0.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legal & General Group Plc bought a new stake in shares of CapsoVision in the 2nd quarter valued at about $26,000. Connective Capital Management LLC bought a new position in CapsoVision during the second quarter worth about $76,000. Bank of America Corp DE increased its position in CapsoVision by 528.9% during the first quarter. Bank of America Corp DE now owns 22,238 shares of the company’s stock worth $162,000 after buying an additional 18,702 shares during the last quarter. Deutsche Bank AG bought a new stake in CapsoVision in the second quarter valued at approximately $263,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of CapsoVision in the first quarter valued at approximately $359,000.

Analyst Ratings Changes

CV has been the topic of a number of recent research reports. Benchmark reaffirmed a “speculative buy” rating on shares of CapsoVision in a research report on Friday, August 14th. Zacks Research raised CapsoVision to a “hold” rating in a research report on Monday, August 31st. Roth Capital assumed coverage on CapsoVision in a research note on Friday, August 28th. They issued a “buy” rating and a $9.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of CapsoVision in a research report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $9.50.

About CapsoVision

CapsoVision, Inc is a medical technology company focused on developing and commercializing capsule endoscopy systems for gastrointestinal (GI) diagnostics. Its products are designed to help physicians examine the digestive tract, particularly the small intestine, using an ingestible capsule rather than a conventional endoscopic procedure.

The company’s principal product is CapsoCam Plus, an ingestible capsule endoscope that captures panoramic images as it travels through the gastrointestinal tract.