Zacks Investment Research upgraded shares of Nuvectra (NASDAQ:NVTR) from a hold rating to a buy rating in a report issued on Wednesday morning, Zacks.com reports. The brokerage currently has $3.00 price target on the stock.
According to Zacks, “Nuvectra Corporation develops and commercializes neuromodulation medical device for the treatment of nervous system disorders. It also provides neural interface technology, components and systems, as well as NeuroNexus SmartBox portable control and data streaming systems. Nuvectra Corporation is based in Plano, Texas. “
Other equities research analysts have also recently issued research reports about the company. ValuEngine raised Yirendai from a strong sell rating to a sell rating in a research note on Friday, May 3rd. JMP Securities raised their target price on Qualys from $85.00 to $100.00 and gave the stock a market outperform rating in a research note on Thursday, May 2nd. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. Nuvectra has a consensus rating of Hold and an average price target of $15.00.
Shares of NVTR stock opened at $2.71 on Wednesday. The company has a 50-day moving average of $3.50. The company has a quick ratio of 6.07, a current ratio of 6.60 and a debt-to-equity ratio of 0.56. Nuvectra has a 1-year low of $2.59 and a 1-year high of $25.17.
Nuvectra (NASDAQ:NVTR) last issued its quarterly earnings results on Wednesday, May 1st. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.18). The company had revenue of $11.13 million during the quarter, compared to analyst estimates of $12.76 million. Nuvectra had a negative net margin of 98.77% and a negative return on equity of 62.18%. As a group, research analysts predict that Nuvectra will post -3.17 earnings per share for the current year.
In other Nuvectra news, insider Benjamin Tranchina bought 8,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was acquired at an average price of $4.25 per share, with a total value of $36,125.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Joseph Paul Hanchin sold 7,900 shares of the firm’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $3.98, for a total value of $31,442.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. BlackRock Inc. boosted its holdings in Nuvectra by 27.9% in the fourth quarter. BlackRock Inc. now owns 1,223,250 shares of the company’s stock worth $19,989,000 after acquiring an additional 267,052 shares in the last quarter. Millennium Management LLC boosted its holdings in Nuvectra by 6.4% in the fourth quarter. Millennium Management LLC now owns 486,809 shares of the company’s stock worth $7,954,000 after acquiring an additional 29,101 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Nuvectra by 0.7% in the first quarter. Rockefeller Capital Management L.P. now owns 435,548 shares of the company’s stock worth $4,795,000 after acquiring an additional 2,968 shares in the last quarter. Penn Capital Management Co. Inc. boosted its holdings in Nuvectra by 49.3% in the first quarter. Penn Capital Management Co. Inc. now owns 293,608 shares of the company’s stock worth $3,233,000 after acquiring an additional 96,994 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in Nuvectra by 18.5% in the fourth quarter. Northern Trust Corp now owns 227,074 shares of the company’s stock worth $3,710,000 after acquiring an additional 35,501 shares in the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.
Nuvectra Company Profile
Nuvectra Corporation, a neurostimulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. The company offers Algovita, a spinal cord stimulation system for the treatment of chronic intractable pain of the trunk and limbs.
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