Nuvectra Corporation (NVTR) Upgraded to “Hold” at Zacks Investment Research

Nuvectra Corporation (NASDAQ:NVTR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, July 12th.

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. “

Several other brokerages have also weighed in on NVTR. Piper Jaffray Companies reiterated a “neutral” rating and set a $14.00 price objective on shares of Nuvectra Corporation in a report on Thursday, July 6th. TheStreet upgraded 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 research report on Friday, June 16th. Finally, B. Riley reissued a “buy” rating and set a $12.00 target price on shares of Nuvectra Corporation in a research report on Monday, May 15th. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Nuvectra Corporation presently has a consensus rating of “Hold” and a consensus target price of $10.50.

Shares of Nuvectra Corporation (NVTR) opened at 11.65 on Wednesday. The firm has a 50-day moving average of $12.34 and a 200 day moving average of $9.23. The stock’s market capitalization is $122.20 million. Nuvectra Corporation has a one year low of $4.63 and a one year high of $15.00.

Nuvectra Corporation (NASDAQ:NVTR) last released its earnings results on Tuesday, August 8th. The company reported ($1.07) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.14) by $0.07. The company had revenue of $7.20 million for the quarter, compared to analyst estimates of $5.96 million. Nuvectra Corporation had a negative net margin of 232.31% and a negative return on equity of 56.68%. The firm’s quarterly revenue was up 188.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.85) EPS. On average, equities research analysts predict that Nuvectra Corporation will post ($4.77) EPS for the current year.

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In other news, CEO Scott F. Drees acquired 7,395 shares of the stock in a transaction on Tuesday, May 30th. The stock was bought at an average price of $10.41 per share, with a total value of $76,981.95. Following the completion of the transaction, the chief executive officer now directly owns 99,136 shares of the company’s stock, valued at $1,032,005.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott F. Drees acquired 2,605 shares of the stock in a transaction on Thursday, May 25th. The stock was purchased at an average cost of $9.92 per share, with a total value of $25,841.60. Following the transaction, 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. Insiders acquired 20,000 shares of company stock valued at $220,024 in the last ninety days.

Hedge funds have recently added to or reduced their stakes in the company. OxFORD Asset Management LLP bought a new stake in Nuvectra Corporation during the second quarter worth $154,000. Dimensional Fund Advisors LP increased its stake in Nuvectra Corporation by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 701,849 shares of the company’s stock worth $9,321,000 after buying an additional 21,140 shares during the last quarter. EAM Investors LLC bought a new stake in Nuvectra Corporation during the second quarter worth $752,000. Vanguard Group Inc. increased its stake in Nuvectra Corporation by 6.2% in the second quarter. Vanguard Group Inc. now owns 310,794 shares of the company’s stock worth $4,128,000 after buying an additional 18,081 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Nuvectra Corporation by 1.7% in the second quarter. Northern Trust Corp now owns 169,659 shares of the company’s stock worth $2,253,000 after buying an additional 2,811 shares during the last quarter. 59.91% of the stock is owned by institutional investors and hedge funds.

Nuvectra Corporation Company Profile

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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