Zacks Investment Research cut shares of Nuvectra (NASDAQ:NVTR) from a hold rating to a sell rating in a research report released on Friday.
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 equities research analysts have also recently issued reports about the company. BidaskClub upgraded Nuvectra from a hold rating to a buy rating in a research note on Saturday, August 18th. Piper Jaffray Companies reiterated a buy rating and issued a $21.00 price target on shares of Nuvectra in a research note on Wednesday, August 8th. Finally, JMP Securities increased their price target on Nuvectra from $18.00 to $23.00 and gave the company a market outperform rating in a research note on Wednesday, August 8th. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $23.50.
Shares of NASDAQ NVTR traded down $0.52 during mid-day trading on Friday, reaching $20.87. 1,196 shares of the company were exchanged, compared to its average volume of 219,363. The company has a debt-to-equity ratio of 0.42, a current ratio of 7.63 and a quick ratio of 7.35. The stock has a market capitalization of $376.66 million, a P/E ratio of -5.05 and a beta of -0.34. Nuvectra has a 1 year low of $7.60 and a 1 year high of $25.17.
Nuvectra (NASDAQ:NVTR) last issued its quarterly earnings data on Monday, October 29th. The company reported ($0.87) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.01). The company had revenue of $14.22 million for the quarter, compared to analysts’ expectations of $12.38 million. Nuvectra had a negative return on equity of 65.86% and a negative net margin of 87.94%. As a group, equities research analysts anticipate that Nuvectra will post -3.44 earnings per share for the current fiscal year.
In other Nuvectra news, President Joseph Paul Hanchin sold 1,250 shares of the stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $20.43, for a total value of $25,537.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.60% of the company’s stock.
Several hedge funds have recently made changes to their positions in NVTR. First Manhattan Co. acquired a new position in shares of Nuvectra in the second quarter valued at about $102,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Nuvectra in the second quarter valued at about $105,000. MetLife Investment Advisors LLC acquired a new position in shares of Nuvectra in the second quarter valued at about $148,000. Financial Architects Inc increased its holdings in shares of Nuvectra by 300.0% in the second quarter. Financial Architects Inc now owns 10,000 shares of the company’s stock valued at $205,000 after purchasing an additional 7,500 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Nuvectra by 1,053.5% in the first quarter. JPMorgan Chase & Co. now owns 19,309 shares of the company’s stock valued at $251,000 after purchasing an additional 17,635 shares during the period. 81.18% of the stock is currently owned by institutional investors and hedge funds.
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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