Nuvectra Corporation (NVTR) Given “Hold” Rating at Piper Jaffray Companies
Piper Jaffray Companies reiterated their hold rating on shares of Nuvectra Corporation (NASDAQ:NVTR) in a research report released on Friday morning. The firm currently has a $12.00 target price on the stock.
A number of other research analysts also recently issued reports on NVTR. ValuEngine downgraded Nuvectra Corporation from a hold rating to a sell rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded Nuvectra Corporation from a sell rating to a hold rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $12.00.
Shares of Nuvectra Corporation (NASDAQ:NVTR) traded up $0.23 during trading hours on Friday, reaching $10.29. The company’s stock had a trading volume of 115,647 shares, compared to its average volume of 44,740. The company has a quick ratio of 3.50, a current ratio of 2.90 and a debt-to-equity ratio of 0.37. Nuvectra Corporation has a 52-week low of $4.63 and a 52-week high of $15.00.
Nuvectra Corporation (NASDAQ:NVTR) last announced its quarterly earnings data on Wednesday, November 1st. The company reported ($1.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.16) by $0.07. The firm had revenue of $7.60 million during the quarter, compared to the consensus estimate of $8.08 million. Nuvectra Corporation had a negative return on equity of 68.63% and a negative net margin of 204.19%. The business’s revenue for the quarter was up 100.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.92) EPS. equities analysts forecast that Nuvectra Corporation will post -4.77 EPS for the current fiscal year.
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In other news, CEO Scott F. Drees purchased 10,000 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $11.72 per share, with a total value of $117,200.00. Following the transaction, the chief executive officer now directly owns 125,180 shares of the company’s stock, valued at $1,467,109.60. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. 3.60% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of NVTR. Gilder Gagnon Howe & Co. LLC lifted its position in shares of Nuvectra Corporation by 12.5% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 953,431 shares of the company’s stock valued at $12,662,000 after buying an additional 105,580 shares during the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Nuvectra Corporation by 42.1% during the 2nd quarter. Essex Investment Management Co. LLC now owns 202,623 shares of the company’s stock valued at $2,691,000 after buying an additional 60,034 shares during the last quarter. EAM Investors LLC purchased a new position in shares of Nuvectra Corporation during the 2nd quarter valued at $752,000. Hodges Capital Management Inc. lifted its position in shares of Nuvectra Corporation by 18.6% during the 2nd quarter. Hodges Capital Management Inc. now owns 227,807 shares of the company’s stock valued at $3,025,000 after buying an additional 35,706 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of Nuvectra Corporation by 3.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 701,849 shares of the company’s stock valued at $9,321,000 after buying an additional 21,140 shares during the last quarter. 57.26% of the stock is currently owned by hedge funds and other institutional investors.
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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