Neovasc Inc. (NVCN) Shares Gap Up to $1.14
Neovasc Inc. (NASDAQ:NVCN) gapped up prior to trading on Tuesday . The stock had previously closed at $1.08, but opened at $1.14. Neovasc shares last traded at $1.28, with a volume of 3,188,867 shares trading hands.
Separately, Zacks Investment Research cut Neovasc from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 12th.
The firm has a 50-day moving average of $1.04 and a 200-day moving average of $1.39. The company’s market cap is $101.00 million.
Neovasc (NASDAQ:NVCN) last posted its earnings results on Thursday, August 10th. The medical equipment provider reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.02. Neovasc had a negative net margin of 68.34% and a negative return on equity of 58.08%. The company had revenue of $1.31 million during the quarter, compared to the consensus estimate of $1.40 million. On average, equities research analysts forecast that Neovasc Inc. will post ($0.31) earnings per share for the current fiscal year.
Hedge funds have recently bought and sold shares of the company. Gagnon Securities LLC lifted its holdings in shares of Neovasc by 5.2% in the second quarter. Gagnon Securities LLC now owns 3,023,087 shares of the medical equipment provider’s stock valued at $4,172,000 after purchasing an additional 149,642 shares in the last quarter. Iguana Healthcare Management LLC bought a new position in shares of Neovasc in the first quarter valued at approximately $505,000. Gagnon Advisors LLC lifted its holdings in shares of Neovasc by 0.5% in the second quarter. Gagnon Advisors LLC now owns 1,212,850 shares of the medical equipment provider’s stock valued at $1,674,000 after purchasing an additional 5,671 shares in the last quarter. Capital World Investors lifted its holdings in shares of Neovasc by 9.1% in the second quarter. Capital World Investors now owns 6,294,667 shares of the medical equipment provider’s stock valued at $8,737,000 after purchasing an additional 522,864 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new position in shares of Neovasc in the second quarter valued at approximately $149,000. Institutional investors own 19.55% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Neovasc Inc. (NVCN) Shares Gap Up to $1.14” was originally published by Daily Political and is the sole property of of Daily Political. If you are reading this piece of content on another domain, it was illegally copied and republished in violation of United States & international trademark and copyright law. The correct version of this piece of content can be read at https://www.dailypolitical.com/2017/09/05/neovasc-inc-nvcn-shares-gap-up-to-1-14.html.
Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.