Zacks Investment Research downgraded shares of Neovasc (NASDAQ:NVCN) (TSE:NVC) from a buy rating to a hold rating in a research note published on Saturday, Zacks.com reports.

According to Zacks, “Neovasc Inc. is a specialty medical device company. It develops, manufactures and markets products for the cardiovascular marketplace. The Company’s products include the Tiara (TM) mitral valve prosthesis in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer (TM) for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products, including transcatheter heart valves. Neovasc Inc. is headquartered in Richmond, Canada. “

Separately, ValuEngine raised shares of Neovasc from a hold rating to a buy rating in a report on Friday, March 1st.

NASDAQ NVCN opened at $0.65 on Friday. Neovasc has a 52-week low of $0.37 and a 52-week high of $4.58. The company has a market cap of $45.87 million, a P/E ratio of -0.24 and a beta of 1.48. The stock’s fifty day moving average is $0.51.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last posted its quarterly earnings data on Thursday, May 9th. The medical equipment provider reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.13). The firm had revenue of $0.59 million for the quarter, compared to the consensus estimate of $0.40 million. As a group, equities research analysts forecast that Neovasc will post -0.6 EPS for the current year.

A hedge fund recently bought a new stake in Neovasc stock. Wedbush Securities Inc. bought a new position in Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) during the first quarter, according to the company in its most recent filing with the SEC. The firm bought 126,000 shares of the medical equipment provider’s stock, valued at approximately $53,000. Wedbush Securities Inc. owned 0.20% of Neovasc as of its most recent SEC filing. Institutional investors and hedge funds own 9.98% of the company’s stock.

About Neovasc

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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