StockNews.com Initiates Coverage on Neovasc (NASDAQ:NVCN)

StockNews.com initiated coverage on shares of Neovasc (NASDAQ:NVCN – Get Rating) (TSE:NVC) in a report released on Saturday morning. The brokerage issued a sell rating on the medical equipment provider’s stock.

A number of other brokerages also recently commented on NVCN. HC Wainwright downgraded shares of Neovasc from a buy rating to a neutral rating in a research report on Wednesday, January 18th. Bloom Burton lowered shares of Neovasc from a buy rating to a hold rating in a research note on Wednesday, January 18th.

Neovasc Stock Performance

Shares of NVCN remained flat at $29.34 during midday trading on Friday. 40,830 shares of the stock were exchanged, compared to its average volume of 33,929. The company’s 50 day simple moving average is $27.49 and its 200 day simple moving average is $15.07. Neovasc has a 52 week low of $4.59 and a 52 week high of $29.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.44 and a quick ratio of 8.13.

Hedge Funds Weigh In On Neovasc

An institutional investor recently bought a new position in Neovasc stock. Choreo LLC bought a new position in shares of Neovasc Inc. (NASDAQ:NVCN – Get Rating) (TSE:NVC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 12,440 shares of the medical equipment provider’s stock, valued at approximately $230,000. Choreo LLC owned 0.45% of Neovasc at the end of the most recent quarter. 1.64% of the stock is currently owned by institutional investors.

Neovasc Company Profile

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Neovasc, Inc engages in the development, manufacture and marketing of medical devices. It focuses on Neovast Tiara and Neovasc Reducer products. The company was founded on November 2, 2000 and is headquartered in Richmond, Canada.