Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) has received an average recommendation of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $7.25.
Several equities research analysts have recently commented on the stock. ValuEngine downgraded shares of Neovasc from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 28th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Neovasc in a research report on Thursday, July 2nd. Zacks Investment Research downgraded shares of Neovasc from a “buy” rating to a “hold” rating in a research report on Wednesday, July 8th. Finally, SVB Leerink reaffirmed a “market perform” rating and issued a $6.00 price objective on shares of Neovasc in a research report on Thursday, August 20th.
A number of hedge funds have recently modified their holdings of NVCN. Bank of America Corp DE boosted its stake in Neovasc by 40.8% in the second quarter. Bank of America Corp DE now owns 19,661 shares of the medical equipment provider’s stock valued at $47,000 after acquiring an additional 5,700 shares during the last quarter. Two Sigma Advisers LP boosted its stake in Neovasc by 121.6% in the first quarter. Two Sigma Advisers LP now owns 39,408 shares of the medical equipment provider’s stock valued at $58,000 after acquiring an additional 21,628 shares during the last quarter. Wedbush Securities Inc. purchased a new position in Neovasc in the second quarter valued at about $106,000. Morgan Stanley lifted its stake in shares of Neovasc by 139.9% during the 1st quarter. Morgan Stanley now owns 63,030 shares of the medical equipment provider’s stock valued at $92,000 after buying an additional 36,758 shares in the last quarter. Finally, Sabby Management LLC purchased a new stake in shares of Neovasc during the 2nd quarter valued at approximately $776,000. 17.79% of the stock is owned by institutional investors and hedge funds.
Neovasc (NASDAQ:NVCN) (TSE:NVC) last posted its earnings results on Thursday, August 6th. The medical equipment provider reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.59) by ($0.22). The firm had revenue of $0.28 million for the quarter, compared to the consensus estimate of $0.30 million. On average, equities analysts predict that Neovasc will post -1.83 earnings per share for the current fiscal year.
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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