INVO Bioscience (NASDAQ:INVO) Lowered to “Hold” at Zacks Investment Research

INVO Bioscience (NASDAQ:INVOGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday, Zacks.com reports.

According to Zacks, “INVO Bioscience is a medical device company, headquartered in Beverly, Massachusetts, focused on creating simplified, lower cost treatment options for patients diagnosed with infertility. It engages in the development and manufacture of its lead product, INVOcell, a novel medical device used in infertility treatment that enables egg fertilization and early embryo development in the woman’s vaginal cavity. The company was founded by Claude Ranoux, MD, a noted expert in the field of reproductive health, infertility and embryology. INVO Bioscience focuses on selling its product to IVF centers and physicians through distributors, as well as directly to physicians in Europe, Canada, Latin America, and the Middle East. “

A number of other equities analysts have also recently commented on INVO. Maxim Group lowered their target price on INVO Bioscience to $3.00 in a report on Thursday. Roth Capital cut INVO Bioscience from a “buy” rating to a “neutral” rating and lowered their target price for the company from $4.00 to $2.00 in a report on Wednesday, April 13th. Finally, Colliers Securities restated a “buy” rating on shares of INVO Bioscience in a report on Tuesday, March 22nd.

Shares of NASDAQ INVO traded up $0.04 during mid-day trading on Thursday, reaching $1.04. 79,541 shares of the company’s stock were exchanged, compared to its average volume of 43,195. INVO Bioscience has a 52-week low of $0.85 and a 52-week high of $5.43. The company’s 50-day moving average is $1.90 and its 200-day moving average is $2.74.

A number of hedge funds have recently bought and sold shares of INVO. Magnus Financial Group LLC acquired a new stake in INVO Bioscience in the 4th quarter valued at about $33,000. Susquehanna International Group LLP acquired a new stake in shares of INVO Bioscience during the 4th quarter worth about $46,000. Connors Investor Services Inc. raised its position in shares of INVO Bioscience by 27.3% during the 4th quarter. Connors Investor Services Inc. now owns 49,000 shares of the company’s stock worth $163,000 after acquiring an additional 10,500 shares in the last quarter. Eidelman Virant Capital acquired a new stake in shares of INVO Bioscience during the 1st quarter worth about $29,000. Finally, Virtu Financial LLC acquired a new stake in shares of INVO Bioscience during the 1st quarter worth about $29,000. 21.69% of the stock is currently owned by institutional investors.

About INVO Bioscience (Get Rating)

INVO Bioscience, Inc, a commercial-stage fertility company, provides assisted reproductive technology solutions worldwide. Its flagship product is the INVOcell, a medical device that allows fertilization and early embryo development to take place in vivo within the woman's body. The company was founded in 2007 and is based in Sarasota, Florida.

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