Neovasc (NVCN) Shares Gap Up to $0.76

Shares of Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) gapped up before the market opened on Friday . The stock had previously closed at $0.82, but opened at $0.76. Neovasc shares last traded at $0.75, with a volume of 29457 shares.

A number of analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Neovasc from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine raised shares of Neovasc from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last released its earnings results on Wednesday, November 14th. The medical equipment provider reported ($0.61) EPS for the quarter. The business had revenue of $0.48 million for the quarter, compared to analysts’ expectations of $0.47 million. Equities research analysts anticipate that Neovasc Inc will post -1.4 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in Neovasc during the 4th quarter worth approximately $38,000. Capital Research Global Investors purchased a new position in Neovasc during the 3rd quarter worth approximately $1,917,000. Finally, Renaissance Technologies LLC grew its stake in Neovasc by 837.5% during the 2nd quarter. Renaissance Technologies LLC now owns 53,754,832 shares of the medical equipment provider’s stock worth $2,300,000 after buying an additional 48,020,900 shares during the last quarter. 16.49% of the stock is owned by hedge funds and other institutional investors.

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About Neovasc (NASDAQ:NVCN)

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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