Neovasc Inc (US) (NVCN) Receives $4.50 Consensus Price Target from Brokerages

Shares of Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) have received an average rating of “Buy” from the six analysts that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $3.35.

A number of analysts have issued reports on NVCN shares. Zacks Investment Research raised Neovasc Inc (US) from a “hold” rating to a “buy” rating and set a $1.75 target price for the company in a research report on Wednesday, October 11th. ValuEngine downgraded Neovasc Inc (US) from a “sell” rating to a “strong sell” rating in a research report on Friday, December 1st. Finally, Canaccord Genuity reissued a “buy” rating and issued a $1.05 target price on shares of Neovasc Inc (US) in a research report on Friday.

A hedge fund recently raised its stake in Neovasc Inc (US) stock. Capital World Investors lifted its stake in Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) by 9.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,294,667 shares of the medical equipment provider’s stock after acquiring an additional 522,864 shares during the period. Capital World Investors owned approximately 7.98% of Neovasc Inc (US) worth $8,737,000 at the end of the most recent reporting period. 19.04% of the stock is owned by institutional investors.

Neovasc Inc (NVCN) traded up $0.13 during trading hours on Friday, reaching $0.68. The company’s stock had a trading volume of 6,468,660 shares, compared to its average volume of 615,783. Neovasc Inc has a twelve month low of $0.50 and a twelve month high of $2.12. The stock has a market capitalization of $55.77, a P/E ratio of 2.52 and a beta of 1.48.

Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) last released its earnings results on Tuesday, November 14th. The medical equipment provider reported ($0.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by ($0.04). Neovasc Inc (US) had a negative return on equity of 85.81% and a net margin of 268.35%. equities analysts forecast that Neovasc Inc will post -0.21 earnings per share for the current fiscal year.

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About Neovasc Inc (US)

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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