Zacks Investment Research upgraded shares of Nuvectra Corporation (NASDAQ:NVTR) from a sell rating to a hold rating in a research report report published on Wednesday morning.
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. “
A number of other equities research analysts have also recently commented on the stock. TheStreet raised shares of Nuvectra Corporation from a d rating to a c- rating in a report on Monday, June 19th. ValuEngine raised shares of Nuvectra Corporation from a sell rating to a hold rating in a report on Friday, June 16th. Piper Jaffray Companies reaffirmed a neutral rating and issued a $14.00 target price on shares of Nuvectra Corporation in a report on Thursday, July 6th. Finally, B. Riley reaffirmed a buy rating and issued a $12.00 target price on shares of Nuvectra Corporation in a report on Wednesday, May 10th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $10.50.
Shares of Nuvectra Corporation (NASDAQ:NVTR) traded down 2.05% during mid-day trading on Wednesday, reaching $12.45. The company’s stock had a trading volume of 25,434 shares. Nuvectra Corporation has a one year low of $4.63 and a one year high of $15.00. The stock has a 50 day moving average of $11.01 and a 200-day moving average of $7.84. The stock’s market cap is $128.76 million.
Nuvectra Corporation (NASDAQ:NVTR) last announced its earnings results on Tuesday, May 9th. The company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.25) by $0.02. Nuvectra Corporation had a negative net margin of 286.26% and a negative return on equity of 47.33%. The business had revenue of $5 million during the quarter, compared to analysts’ expectations of $4.61 million. During the same period in the previous year, the company posted ($0.70) earnings per share. Nuvectra Corporation’s quarterly revenue was up 47.1% on a year-over-year basis. On average, equities research analysts expect that Nuvectra Corporation will post ($4.87) EPS for the current fiscal year.
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In other news, CEO Scott F. Drees purchased 7,395 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was purchased at an average cost of $10.41 per share, with a total value of $76,981.95. Following the completion of the acquisition, the chief executive officer now directly owns 99,136 shares of the company’s stock, valued at approximately $1,032,005.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Scott F. Drees purchased 2,605 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were purchased at an average cost of $9.92 per share, with a total value of $25,841.60. Following the completion of the acquisition, the chief executive officer now directly owns 90,041 shares of the company’s stock, valued at $893,206.72. The disclosure for this purchase can be found here.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Granite Investment Partners LLC purchased a new position in Nuvectra Corporation during the first quarter valued at about $702,000. Renaissance Technologies LLC boosted its position in Nuvectra Corporation by 77.7% in the fourth quarter. Renaissance Technologies LLC now owns 86,200 shares of the company’s stock valued at $434,000 after buying an additional 37,700 shares in the last quarter. Gilder Gagnon Howe & Co. LLC boosted its position in Nuvectra Corporation by 4.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 847,851 shares of the company’s stock valued at $5,791,000 after buying an additional 33,796 shares in the last quarter. Essex Investment Management Co. LLC boosted its position in Nuvectra Corporation by 17.7% in the first quarter. Essex Investment Management Co. LLC now owns 142,589 shares of the company’s stock valued at $974,000 after buying an additional 21,469 shares in the last quarter. Finally, Hodges Capital Management Inc. boosted its position in Nuvectra Corporation by 7.8% in the first quarter. Hodges Capital Management Inc. now owns 192,101 shares of the company’s stock valued at $1,312,000 after buying an additional 13,840 shares in the last quarter. 58.40% of the stock is owned by hedge funds and other institutional investors.
About Nuvectra Corporation
Nuvectra Corporation is a neurostimulation company that focuses on helping physicians to improve the lives of people with chronic neurological conditions. The Company’s Algovita Spinal Cord Stimulation (SCS) System (Algovita) is the Company’s commercial offering and is Conformite Europeene (CE) marked and the United States Food and Drug Administration (FDA) approved for the treatment of chronic pain of the trunk and/or limbs.
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