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.
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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