Zacks Investment Research Lowers Viveve Medical (NASDAQ:VIVE) to Hold

Viveve Medical (NASDAQ:VIVE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Viveve Medical, Inc. is a medical device company focused on technologies for the cardiac and vascular markets. The Company’s lead product, RenalGuard (R), is designed to remove contrast dyes that are known to be toxic to the kidneys. Viveve Medical Inc., formerly known as PLC Systems Inc., is headquartered in Milford, Massachusetts. “

Viveve Medical stock traded up $0.14 during mid-day trading on Thursday, reaching $2.28. 468,862 shares of the stock traded hands, compared to its average volume of 922,432. The company has a quick ratio of 9.50, a current ratio of 10.40 and a debt-to-equity ratio of 0.19. Viveve Medical has a 12-month low of $2.07 and a 12-month high of $6.78. The business’s 50-day moving average is $2.41 and its 200-day moving average is $2.64.

Viveve Medical (NASDAQ:VIVE) last posted its quarterly earnings data on Thursday, August 12th. The company reported ($0.49) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.16. The company had revenue of $1.65 million during the quarter. Viveve Medical had a negative return on equity of 109.68% and a negative net margin of 295.82%. As a group, sell-side analysts predict that Viveve Medical will post -2.36 EPS for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC purchased a new stake in Viveve Medical in the first quarter worth about $53,000. Virtu Financial LLC purchased a new stake in Viveve Medical in the first quarter worth about $132,000. Geode Capital Management LLC purchased a new stake in Viveve Medical in the first quarter worth about $67,000. Citadel Advisors LLC purchased a new stake in Viveve Medical in the first quarter worth about $90,000. Finally, Goldman Sachs Group Inc. purchased a new stake in Viveve Medical in the first quarter worth about $53,000. Institutional investors and hedge funds own 6.45% of the company’s stock.

About Viveve Medical

Viveve Medical, Inc engages in the design, development, manufacture, and marketing of platform medical technology. It offers cryogen-cooled monopolar radio frequency technology, which delivered through a radiofrequency generator, hand piece and treatment tip. The Viveve system is a non-invasive treatment of vaginal introital laxity, sexual function, vaginal rejuvenation, and stress urinary incontinence.

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