Zacks Investment Research upgraded shares of Nuvectra (NASDAQ:NVTR) from a hold rating to a buy rating in a report published on Wednesday, Zacks.com reports. They currently have $3.00 price objective 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. “
NVTR has been the subject of several other reports. ValuEngine upgraded Yirendai from a strong sell rating to a sell rating in a research note on Friday, May 3rd. JMP Securities boosted their price target on Qualys from $85.00 to $100.00 and gave the company a market outperform rating in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and an average target price of $15.00.
NVTR opened at $2.71 on Wednesday. The firm has a fifty day moving average price of $3.50. Nuvectra has a 1 year low of $2.59 and a 1 year high of $25.17. 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 (NASDAQ:NVTR) last released its quarterly earnings results on Wednesday, May 1st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.18). The firm had revenue of $11.13 million during the quarter, compared to the consensus estimate of $12.76 million. Nuvectra had a negative net margin of 98.77% and a negative return on equity of 62.18%. On average, research analysts expect that Nuvectra will post -3.17 EPS for the current fiscal year.
In related news, Director David D. Johnson bought 20,000 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was purchased at an average cost of $6.12 per share, for a total transaction of $122,400.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Joseph Paul Hanchin sold 7,900 shares of the company’s stock in a transaction on Wednesday, June 5th. The shares were 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. Corporate insiders own 2.90% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. American International Group Inc. lifted its position in shares of Nuvectra by 23.5% during the 4th quarter. American International Group Inc. now owns 11,394 shares of the company’s stock valued at $186,000 after acquiring an additional 2,166 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Nuvectra by 231.8% during 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. Rhumbline Advisers lifted its position in shares of Nuvectra by 12.6% during the 1st quarter. Rhumbline Advisers now owns 22,325 shares of the company’s stock worth $246,000 after buying an additional 2,502 shares during the last quarter. Rockefeller Capital Management L.P. lifted its position 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 worth $4,795,000 after buying an additional 2,968 shares during the last quarter. Finally, BNP Paribas Arbitrage SA bought a new stake in shares of Nuvectra during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 81.14% of the company’s stock.
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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