Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Thursday.
According to Zacks, “Neovasc Inc. is a specialty medical device company. It develops, manufactures and markets products for the cardiovascular marketplace. The Company’s products include the Tiara (TM) mitral valve prosthesis in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer (TM) for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products, including transcatheter heart valves. Neovasc Inc. is headquartered in Richmond, Canada. “
Other equities analysts have also issued reports about the company. Canaccord Genuity dropped their price target on Neovasc Inc (US) from $1.05 to $0.50 and set a “buy” rating for the company in a research note on Thursday, March 29th. Leerink Swann dropped their price target on Neovasc Inc (US) from $5.00 to $2.00 and set an “outperform” rating for the company in a research note on Thursday, March 29th. Finally, ValuEngine lowered Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a research note on Sunday, December 31st.
NASDAQ NVCN opened at $0.06 on Thursday. Neovasc Inc has a twelve month low of $0.03 and a twelve month high of $1.89. The stock has a market capitalization of $2.83, a PE ratio of -0.17 and a beta of 1.20. The company has a debt-to-equity ratio of -0.89, a current ratio of 0.77 and a quick ratio of 0.75.
An institutional investor recently bought a new position in Neovasc Inc (US) stock. Hudson Bay Capital Management LP purchased a new stake in shares of Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 10,355,108 shares of the medical equipment provider’s stock, valued at approximately $6,213,000. Hudson Bay Capital Management LP owned about 13.12% of Neovasc Inc (US) at the end of the most recent quarter. 41.47% of the stock is currently owned by hedge funds and other institutional investors.
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Neovasc Inc (US) Company Profile
Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.
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