Zacks Investment Research upgraded shares of Nuvectra (NASDAQ:NVTR) from a sell rating to a hold rating in a report released on Friday morning.
According to Zacks, “Nuvectra Corporation develops and commercializes neuromodulation medical device for the treatment of nervous system disorders. It also provides neural interface technology, components and systems, as well as NeuroNexus SmartBox portable control and data streaming systems. Nuvectra Corporation is based in Plano, Texas. “
Other analysts have also issued reports about the stock. SunTrust Banks began coverage on shares of Nuvectra in a research note on Thursday, March 29th. They set a buy rating for the company. ValuEngine raised shares of Nuvectra from a hold rating to a buy rating in a research report on Saturday, June 2nd. Finally, Piper Jaffray Companies raised shares of Nuvectra from a neutral rating to an overweight rating in a research report on Friday, March 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $19.50.
NVTR stock opened at $23.01 on Friday. The company has a quick ratio of 5.15, a current ratio of 5.51 and a debt-to-equity ratio of 0.61. Nuvectra has a one year low of $7.60 and a one year high of $23.66. The stock has a market cap of $321.42 million, a price-to-earnings ratio of -5.45 and a beta of -1.90.
Nuvectra (NASDAQ:NVTR) last posted its quarterly earnings data on Wednesday, May 2nd. The company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($0.89) by $0.05. Nuvectra had a negative net margin of 112.42% and a negative return on equity of 72.39%. The company had revenue of $10.57 million during the quarter, compared to analyst estimates of $9.71 million. sell-side analysts predict that Nuvectra will post -3.7 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Rockefeller Capital Management L.P. purchased a new stake in shares of Nuvectra in the first quarter worth approximately $5,593,000. AWH Capital L.P. purchased a new stake in shares of Nuvectra in the fourth quarter worth approximately $3,597,000. First Light Asset Management LLC purchased a new stake in shares of Nuvectra in the first quarter worth approximately $5,386,000. Tibra Equities Europe Ltd purchased a new stake in shares of Nuvectra in the first quarter worth approximately $400,000. Finally, Wells Fargo & Company MN lifted its position in shares of Nuvectra by 14.6% in the fourth quarter. Wells Fargo & Company MN now owns 127,665 shares of the company’s stock worth $991,000 after purchasing an additional 16,244 shares in the last quarter. 69.41% of the stock is owned by institutional investors and hedge funds.
Nuvectra Company Profile
Nuvectra Corporation, a neuromodulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. It operates through two segments, Nuvectra and NeuroNexus. The company offers Algovita spinal cord stimulation system that is used for the treatment of chronic pain of the trunk and limbs.
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