Neovasc Inc (NASDAQ:NVCN) Expected to Post Earnings of -$0.89 Per Share

Analysts expect Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) to report ($0.89) earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Neovasc’s earnings. The highest EPS estimate is ($0.63) and the lowest is ($1.14). Neovasc reported earnings per share of ($1.50) in the same quarter last year, which would suggest a positive year-over-year growth rate of 40.7%. The business is scheduled to report its next earnings report on Thursday, March 19th.

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

Several research analysts have weighed in on the stock. HC Wainwright set a $9.00 price target on shares of Neovasc and gave the stock a “buy” rating in a research report on Monday, November 4th. ValuEngine upgraded shares of Neovasc from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, December 31st. Finally, Zacks Investment Research downgraded shares of Neovasc from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Kessler Investment Group LLC bought a new position in Neovasc in the fourth quarter worth approximately $39,000. Virtu Financial LLC bought a new position in Neovasc in the fourth quarter worth approximately $72,000. Finally, Magnetar Financial LLC raised its position in Neovasc by 15.5% in the fourth quarter. Magnetar Financial LLC now owns 555,275 shares of the medical equipment provider’s stock worth $3,004,000 after acquiring an additional 74,349 shares during the period. Institutional investors and hedge funds own 11.45% of the company’s stock.

NVCN traded down $0.04 during trading on Tuesday, hitting $2.61. The company’s stock had a trading volume of 99,763 shares. Neovasc has a one year low of $2.34 and a one year high of $8.65. The business’s 50 day simple moving average is $3.24 and its 200-day simple moving average is $3.27.

Neovasc Company Profile

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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