Edge Wealth Management LLC Purchases 9,900 Shares of Nuvectra Corp (NASDAQ:NVTR)

Edge Wealth Management LLC grew its holdings in shares of Nuvectra Corp (NASDAQ:NVTR) by 88.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,140 shares of the company’s stock after buying an additional 9,900 shares during the period. Edge Wealth Management LLC owned 0.12% of Nuvectra worth $235,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NVTR. PNC Financial Services Group Inc. raised its position in Nuvectra by 231.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,318 shares of the company’s stock worth $54,000 after buying an additional 2,318 shares during the last quarter. Metropolitan Life Insurance Co. NY raised its position in Nuvectra by 356.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,108 shares of the company’s stock worth $83,000 after buying an additional 3,989 shares during the last quarter. American International Group Inc. raised its position in Nuvectra by 23.5% in the 4th quarter. American International Group Inc. now owns 11,394 shares of the company’s stock worth $186,000 after buying an additional 2,166 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Nuvectra in the 3rd quarter worth about $201,000. Finally, MetLife Investment Advisors LLC raised its position in Nuvectra by 57.1% in the 3rd quarter. MetLife Investment Advisors LLC now owns 11,360 shares of the company’s stock worth $250,000 after buying an additional 4,128 shares during the last quarter. Hedge funds and other institutional investors own 80.39% of the company’s stock.

Shares of NASDAQ:NVTR opened at $6.14 on Friday. The company has a market cap of $167.96 million, a P/E ratio of -1.92 and a beta of -0.18. The company has a quick ratio of 5.48, a current ratio of 5.81 and a debt-to-equity ratio of 0.47. Nuvectra Corp has a 12-month low of $5.91 and a 12-month high of $25.17.

Nuvectra (NASDAQ:NVTR) last announced its quarterly earnings data on Wednesday, May 1st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.18). The company had revenue of $11.13 million for the quarter, compared to the consensus estimate of $12.76 million. Nuvectra had a negative net margin of 91.74% and a negative return on equity of 60.14%. On average, sell-side analysts expect that Nuvectra Corp will post -2.77 earnings per share for the current year.

NVTR has been the subject of a number of recent analyst reports. ValuEngine lowered Nuvectra from a “buy” rating to a “hold” rating in a research report on Saturday, February 2nd. BidaskClub upgraded Nuvectra from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Raymond James cut their price target on Nuvectra from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Friday, March 1st. Finally, JMP Securities cut their price target on Nuvectra from $26.00 to $18.00 and set an “outperform” rating for the company in a research note on Thursday. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.40.

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About Nuvectra

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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Institutional Ownership by Quarter for Nuvectra (NASDAQ:NVTR)

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