Nuvectra Corporation (NVTR) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS
Nuvectra Corporation (NASDAQ:NVTR) issued its earnings results on Tuesday. The company reported ($1.07) earnings per share for the quarter, beating the consensus estimate of ($1.14) by $0.07, Briefing.com reports. The business had revenue of $7.20 million for the quarter, compared to analyst estimates of $5.96 million. Nuvectra Corporation had a negative net margin of 286.26% and a negative return on equity of 47.33%. The firm’s revenue was up 188.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.85) EPS.
Nuvectra Corporation (NVTR) traded up 5.8229% during trading on Wednesday, reaching $12.7305. 101,525 shares of the company’s stock were exchanged. The firm’s market cap is $131.66 million. The stock’s 50 day moving average price is $12.60 and its 200 day moving average price is $9.03. Nuvectra Corporation has a 52-week low of $4.63 and a 52-week high of $15.00.
In related news, CEO Scott F. Drees purchased 2,605 shares of Nuvectra Corporation stock in a transaction dated Thursday, May 25th. The shares were bought at an average cost of $9.92 per share, for a total transaction of $25,841.60. Following the purchase, the chief executive officer now owns 90,041 shares in the company, valued at approximately $893,206.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Scott F. Drees purchased 7,395 shares of Nuvectra Corporation stock in a transaction dated Tuesday, May 30th. The stock was bought at an average price of $10.41 per share, for a total transaction of $76,981.95. Following the completion of the purchase, the chief executive officer now owns 99,136 shares in the company, valued at approximately $1,032,005.76. The disclosure for this purchase can be found here.
A number of equities analysts have commented on NVTR shares. B. Riley restated a “buy” rating and issued a $12.00 price target on shares of Nuvectra Corporation in a research report on Wednesday, May 10th. Zacks Investment Research lowered shares of Nuvectra Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, May 13th. Piper Jaffray Companies restated a “neutral” rating and issued a $14.00 price target on shares of Nuvectra Corporation in a research report on Thursday, July 6th. TheStreet upgraded shares of Nuvectra Corporation from a “d” rating to a “c-” rating in a research report on Monday, June 19th. Finally, ValuEngine upgraded shares of Nuvectra Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $10.50.
About Nuvectra Corporation
Nuvectra Corporation is a neurostimulation company that focuses on helping physicians to improve the lives of people with chronic neurological conditions. The Company’s Algovita Spinal Cord Stimulation (SCS) System (Algovita) is the Company’s commercial offering and is Conformite Europeene (CE) marked and the United States Food and Drug Administration (FDA) approved for the treatment of chronic pain of the trunk and/or limbs.
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