Neovasc Inc (US) (NVCN) Sets New 12-Month Low at $0.54

Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) shares reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $0.54 and last traded at $0.56, with a volume of 814200 shares changing hands. The stock had previously closed at $0.56.

A number of research analysts recently issued reports on the company. ValuEngine cut Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a report on Sunday, December 31st. Zacks Investment Research lowered Neovasc Inc (US) from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $3.58.

The firm has a market cap of $56.89, a PE ratio of 1.93 and a beta of 1.48.

A hedge fund recently raised its stake in Neovasc Inc (US) stock. Capital World Investors boosted its holdings in Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) by 9.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,294,667 shares of the medical equipment provider’s stock after buying an additional 522,864 shares during the quarter. Capital World Investors owned approximately 7.98% of Neovasc Inc (US) worth $8,737,000 at the end of the most recent reporting period. Institutional investors own 19.04% of the company’s stock.

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Neovasc Inc (US) Company Profile

Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.

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