Wall Street brokerages predict that Nuvectra Corp (NASDAQ:NVTR) will post $12.40 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Nuvectra’s earnings, with estimates ranging from $12.20 million to $12.59 million. Nuvectra reported sales of $14.22 million in the same quarter last year, which would suggest a negative year over year growth rate of 12.8%. The company is expected to report its next earnings report on Monday, November 4th.
On average, analysts expect that Nuvectra will report full-year sales of $50.25 million for the current financial year, with estimates ranging from $50.20 million to $50.29 million. For the next financial year, analysts anticipate that the business will post sales of $55.96 million, with estimates ranging from $54.72 million to $57.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow Nuvectra.
Nuvectra (NASDAQ:NVTR) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. Nuvectra had a negative net margin of 99.08% and a negative return on equity of 58.23%. The company had revenue of $12.35 million during the quarter, compared to analyst estimates of $12.42 million.
A number of brokerages recently weighed in on NVTR. ValuEngine upgraded shares of Nuvectra from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of Nuvectra from a “hold” rating to a “buy” rating and set a $3.00 target price for the company in a research note on Wednesday, July 10th. Piper Jaffray Companies decreased their target price on shares of Nuvectra from $18.00 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, August 1st. Finally, JMP Securities decreased their target price on shares of Nuvectra to $10.00 and set an “outperform” rating for the company in a research note on Thursday, August 1st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Nuvectra currently has an average rating of “Buy” and an average price target of $8.75.
In other news, President Joseph Paul Hanchin sold 7,900 shares of the business’s stock in a transaction on Wednesday, June 5th. The shares were sold at an average price of $3.98, for a total transaction of $31,442.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin Tranchina acquired 8,500 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were acquired at an average cost of $4.25 per share, with a total value of $36,125.00. The disclosure for this purchase can be found here. Insiders own 2.90% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC bought a new position in shares of Nuvectra during the 2nd quarter valued at about $35,000. SNS Financial Group LLC bought a new position in shares of Nuvectra during the 2nd quarter valued at about $36,000. Resources Investment Advisors LLC. bought a new position in shares of Nuvectra during the 2nd quarter valued at about $39,000. BNP Paribas Arbitrage SA bought a new position in shares of Nuvectra during the 1st quarter valued at about $40,000. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Nuvectra by 1,431.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,030 shares of the company’s stock valued at $44,000 after purchasing an additional 12,179 shares during the last quarter. 73.76% of the stock is owned by hedge funds and other institutional investors.
NASDAQ NVTR traded down $0.09 during mid-day trading on Friday, reaching $1.61. The stock had a trading volume of 1,327 shares, compared to its average volume of 304,319. Nuvectra has a 1 year low of $1.66 and a 1 year high of $25.17. The firm has a market cap of $30.40 million, a PE ratio of -0.50 and a beta of 0.71. The business’s fifty day moving average price is $2.43. The company has a current ratio of 4.86, a quick ratio of 4.42 and a debt-to-equity ratio of 0.58.
Nuvectra Corporation, a neurostimulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. The company offers Algovita, a spinal cord stimulation system for the treatment of chronic intractable pain of the trunk and limbs.
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