Nuvectra (NASDAQ:NVTR) Upgraded at ValuEngine

ValuEngine upgraded shares of Nuvectra (NASDAQ:NVTR) from a sell rating to a hold rating in a research note published on Thursday, ValuEngine reports.

A number of other brokerages have also recently commented on NVTR. JMP Securities reduced their target price on shares of Nuvectra to $10.00 and set an outperform rating for the company in a report on Thursday. They noted that the move was a valuation call. Zacks Investment Research raised shares of Nuvectra from a hold rating to a buy rating and set a $3.00 target price for the company in a report on Wednesday, July 10th. Finally, Piper Jaffray Companies reduced their target price on shares of Nuvectra from $18.00 to $4.00 and set an overweight rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $8.75.

Shares of NVTR traded down $0.09 during mid-day trading on Thursday, hitting $1.72. 416,101 shares of the company traded hands, compared to its average volume of 383,233. The company has a debt-to-equity ratio of 0.58, a quick ratio of 6.07 and a current ratio of 4.86. The business has a 50-day moving average price of $2.84. Nuvectra has a 1 year low of $1.75 and a 1 year high of $25.17. The company has a market cap of $31.93 million, a PE ratio of -0.54 and a beta of 0.72.

Nuvectra (NASDAQ:NVTR) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.62) earnings per share for the quarter, beating the consensus estimate of ($0.81) by $0.19. Nuvectra had a negative net margin of 99.08% and a negative return on equity of 58.23%. The firm had revenue of $12.35 million during the quarter, compared to analysts’ expectations of $12.42 million. Equities analysts expect that Nuvectra will post -2.44 earnings per share for the current fiscal year.

In other news, insider Benjamin Tranchina acquired 8,500 shares of Nuvectra stock in a transaction dated Wednesday, May 22nd. The stock was purchased at an average cost of $4.25 per share, with a total value of $36,125.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Joseph Paul Hanchin sold 7,900 shares of the stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $3.98, for a total transaction of $31,442.00. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Northern Trust Corp increased its stake in shares of 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 purchasing an additional 35,501 shares in the last quarter. Rockefeller Capital Management L.P. increased its stake in shares of 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 purchasing an additional 2,968 shares in the last quarter. Rhumbline Advisers increased its stake in shares of Nuvectra by 12.6% in the first quarter. Rhumbline Advisers now owns 22,325 shares of the company’s stock worth $246,000 after purchasing an additional 2,502 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Nuvectra by 180.2% in the fourth quarter. Deutsche Bank AG now owns 117,247 shares of the company’s stock worth $1,914,000 after purchasing an additional 75,404 shares in the last quarter. Finally, Marshall Wace LLP purchased a new stake in shares of Nuvectra in the first quarter worth $1,155,000. 76.44% of the stock is owned by hedge funds and other institutional investors.

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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