Bank of New York Mellon Corp trimmed its position in Nuvectra Corporation (NASDAQ:NVTR) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,038 shares of the company’s stock after selling 50 shares during the quarter. Bank of New York Mellon Corp owned about 0.12% of Nuvectra Corporation worth $159,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Rockefeller Financial Services Inc. increased its holdings in shares of Nuvectra Corporation by 3.2% in the second quarter. Rockefeller Financial Services Inc. now owns 107,523 shares of the company’s stock worth $1,428,000 after purchasing an additional 3,338 shares during the last quarter. Hodges Capital Management Inc. increased its holdings in shares of Nuvectra Corporation by 18.6% in the second quarter. Hodges Capital Management Inc. now owns 227,807 shares of the company’s stock worth $3,025,000 after purchasing an additional 35,706 shares during the last quarter. Essex Investment Management Co. LLC increased its holdings in shares of Nuvectra Corporation by 42.1% in the second quarter. Essex Investment Management Co. LLC now owns 202,623 shares of the company’s stock worth $2,691,000 after purchasing an additional 60,034 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Nuvectra Corporation by 12.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 953,431 shares of the company’s stock worth $12,662,000 after purchasing an additional 105,580 shares during the last quarter. 56.98% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on NVTR shares. Zacks Investment Research raised Nuvectra Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. ValuEngine cut Nuvectra Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $12.00 target price on shares of Nuvectra Corporation in a report on Friday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $12.00.
In related news, CEO Scott F. Drees purchased 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average price of $11.72 per share, for a total transaction of $117,200.00. Following the completion of the transaction, the chief executive officer now owns 125,180 shares in the company, valued at approximately $1,467,109.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.60% of the company’s stock.
Nuvectra Corporation (NASDAQ NVTR) opened at $10.29 on Monday. Nuvectra Corporation has a 12-month low of $4.63 and a 12-month high of $15.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.90 and a quick ratio of 2.72.
Nuvectra Corporation (NASDAQ:NVTR) last released its quarterly earnings results on Wednesday, November 1st. The company reported ($1.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.16) by $0.07. The company had revenue of $7.60 million during the quarter, compared to analyst estimates of $8.08 million. Nuvectra Corporation had a negative return on equity of 68.63% and a negative net margin of 204.19%. The firm’s revenue was up 100.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.92) earnings per share. equities analysts predict that Nuvectra Corporation will post -4.77 EPS for the current fiscal year.
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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