Nuvectra (NASDAQ:NVTR) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Nuvectra (NASDAQ:NVTR) announced its quarterly earnings data on Wednesday. The company reported ($0.62) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.81) by $0.19, Morningstar.com reports. Nuvectra had a negative return on equity of 62.18% and a negative net margin of 98.77%. The company had revenue of $12.35 million for the quarter, compared to analysts’ expectations of $12.42 million.

NASDAQ NVTR traded down $0.10 during midday trading on Thursday, hitting $2.02. 448,245 shares of the company traded hands, compared to its average volume of 303,595. The company has a current ratio of 6.60, a quick ratio of 6.07 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $36.13 million, a P/E ratio of -0.63 and a beta of 0.74. The firm has a 50-day simple moving average of $2.88. Nuvectra has a 52 week low of $1.89 and a 52 week high of $25.17.

Several research analysts recently issued reports on NVTR shares. Zacks Investment Research raised Nuvectra from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a research note on Wednesday, July 10th. Piper Jaffray Companies dropped their price objective on Nuvectra from $18.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday. ValuEngine raised Nuvectra from a “sell” rating to a “hold” rating in a research note on Thursday. Finally, JMP Securities dropped their target price on Nuvectra to $10.00 and set an “outperform” rating on the stock in a research report on Thursday. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $8.75.

In related news, Director David D. Johnson bought 20,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were acquired at an average price of $6.12 per share, with a total value of $122,400.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Benjamin Tranchina bought 8,500 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were bought at an average cost of $4.25 per share, for a total transaction of $36,125.00. The disclosure for this purchase can be found here. 2.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Northern Trust Corp boosted its position in Nuvectra by 18.5% during the 4th quarter. Northern Trust Corp now owns 227,074 shares of the company’s stock valued at $3,710,000 after acquiring an additional 35,501 shares in the last quarter. Rockefeller Capital Management L.P. lifted its holdings in shares of Nuvectra by 0.7% during the 1st quarter. Rockefeller Capital Management L.P. now owns 435,548 shares of the company’s stock valued at $4,795,000 after purchasing an additional 2,968 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Nuvectra by 12.6% during the 1st quarter. Rhumbline Advisers now owns 22,325 shares of the company’s stock valued at $246,000 after purchasing an additional 2,502 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Nuvectra by 180.2% during the 4th quarter. Deutsche Bank AG now owns 117,247 shares of the company’s stock valued at $1,914,000 after purchasing an additional 75,404 shares during the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Nuvectra during the 1st quarter valued at $1,155,000. 76.37% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History for Nuvectra (NASDAQ:NVTR)

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