Analysts expect Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) to report earnings per share of ($0.89) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Neovasc’s earnings, with the highest EPS estimate coming in at ($0.63) and the lowest estimate coming in at ($1.14). Neovasc reported earnings of ($1.50) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 40.7%. The firm is scheduled to issue its next earnings results on Thursday, March 19th.
On average, analysts expect that Neovasc will report full-year earnings of ($3.87) per share for the current fiscal year, with EPS estimates ranging from ($4.39) to ($3.35). For the next fiscal year, analysts forecast that the company will post earnings of ($2.45) per share, with EPS estimates ranging from ($3.54) to ($1.36). Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for Neovasc.
Several research firms have weighed in on NVCN. HC Wainwright set a $9.00 target price on shares of Neovasc and gave the stock a “buy” rating in a report on Monday, November 4th. Zacks Investment Research raised shares of Neovasc from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Wednesday, November 13th.
A number of hedge funds have recently bought and sold shares of the business. Bank of Montreal Can grew its stake in Neovasc by 72.7% in the second quarter. Bank of Montreal Can now owns 51,807 shares of the medical equipment provider’s stock valued at $250,000 after acquiring an additional 21,807 shares during the period. Citadel Advisors LLC bought a new stake in shares of Neovasc in the second quarter worth about $36,000. Finally, Magnetar Financial LLC increased its holdings in shares of Neovasc by 325.3% in the second quarter. Magnetar Financial LLC now owns 4,809,269 shares of the medical equipment provider’s stock worth $2,322,000 after acquiring an additional 3,678,404 shares in the last quarter. Hedge funds and other institutional investors own 15.04% of the company’s stock.
Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.
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