-$0.89 EPS Expected for Neovasc Inc (NASDAQ:NVCN) This Quarter

Equities analysts predict that Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) will announce ($0.89) earnings per share for the current quarter, Zacks reports. Two analysts have issued estimates for Neovasc’s earnings, with estimates ranging from ($1.14) to ($0.63). Neovasc posted 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 company is scheduled to issue its next quarterly earnings results on Thursday, March 19th.

On average, analysts expect that Neovasc will report full year earnings of ($3.35) per share for the current year. For the next financial year, analysts anticipate that the business will post earnings of ($2.45) per share, with EPS estimates ranging from ($3.54) to ($1.36). Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Neovasc.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last announced its earnings results on Thursday, November 7th. The medical equipment provider reported ($0.93) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.29. The business had revenue of $0.50 million for the quarter, compared to analyst estimates of $0.85 million.

NVCN has been the subject of several recent research reports. ValuEngine upgraded shares of Neovasc from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 31st. HC Wainwright set a $9.00 target price on shares of Neovasc and gave the stock a “buy” rating in a research note on Monday, November 4th. Finally, Zacks Investment Research downgraded shares of Neovasc from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kessler Investment Group LLC acquired a new stake in shares of Neovasc during the fourth quarter worth about $39,000. Bank of Montreal Can boosted its stake in shares of Neovasc by 72.7% during the second quarter. Bank of Montreal Can now owns 51,807 shares of the medical equipment provider’s stock worth $250,000 after buying an additional 21,807 shares during the period. Citadel Advisors LLC acquired a new stake in shares of Neovasc during the second quarter worth about $36,000. Finally, Magnetar Financial LLC boosted its stake in shares of Neovasc by 325.3% during the second quarter. Magnetar Financial LLC now owns 4,809,269 shares of the medical equipment provider’s stock worth $2,322,000 after buying an additional 3,678,404 shares during the period. Institutional investors and hedge funds own 15.04% of the company’s stock.

Shares of NVCN traded up $0.15 during mid-day trading on Friday, hitting $3.35. 478,380 shares of the company’s stock were exchanged, compared to its average volume of 1,661,124. Neovasc has a fifty-two week low of $2.34 and a fifty-two week high of $11.00. The firm has a market capitalization of $27.73 million, a P/E ratio of 3.35 and a beta of 1.68. The business’s 50 day moving average is $3.36 and its two-hundred day moving average is $3.38.

About Neovasc

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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