Nuvectra (NASDAQ:NVTR) Stock Price Up 5.8%

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Nuvectra Corp (NASDAQ:NVTR) rose 5.8% during mid-day trading on Friday . The stock traded as high as $1.74 and last traded at $1.64, approximately 276,075 shares were traded during trading. A decline of 9% from the average daily volume of 302,658 shares. The stock had previously closed at $1.55.

NVTR has been the topic of several analyst reports. JMP Securities dropped their price target on shares of Nuvectra to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. They noted that the move was a valuation call. ValuEngine raised shares of Nuvectra from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Piper Jaffray Companies dropped their price objective on shares of Nuvectra from $18.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Nuvectra from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $8.75.

The company’s 50-day moving average price is $2.33 and its two-hundred day moving average price is $7.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 4.86 and a quick ratio of 4.42.

Nuvectra (NASDAQ:NVTR) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.62) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.81) by $0.19. The company had revenue of $12.35 million for the quarter, compared to analyst estimates of $12.42 million. Nuvectra had a negative net margin of 99.08% and a negative return on equity of 58.23%. On average, sell-side analysts predict that Nuvectra Corp will post -2.44 EPS for the current fiscal year.

In related news, insider Benjamin Tranchina acquired 8,500 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were bought at an average cost of $4.25 per share, with a total value of $36,125.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Joseph Paul Hanchin sold 7,900 shares of the stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $3.98, for a total transaction of $31,442.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in NVTR. Bank of New York Mellon Corp lifted its position in shares of Nuvectra by 29.6% during the 4th quarter. Bank of New York Mellon Corp now owns 59,244 shares of the company’s stock valued at $967,000 after acquiring an additional 13,526 shares during the last quarter. Northern Trust Corp lifted its position in shares of Nuvectra by 18.5% during the 4th quarter. Northern Trust Corp now owns 227,074 shares of the company’s stock valued at $3,710,000 after acquiring an additional 35,501 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Nuvectra by 47.1% during the 4th quarter. Geode Capital Management LLC now owns 200,661 shares of the company’s stock valued at $3,278,000 after acquiring an additional 64,249 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Nuvectra by 12.9% during the 4th quarter. Bank of America Corp DE now owns 57,381 shares of the company’s stock valued at $937,000 after acquiring an additional 6,561 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in shares of Nuvectra by 356.5% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,108 shares of the company’s stock valued at $83,000 after acquiring an additional 3,989 shares during the last quarter. Institutional investors and hedge funds own 73.76% of the company’s stock.

Nuvectra Company Profile (NASDAQ:NVTR)

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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