Nuvectra (NVTR) Downgraded to Hold at BidaskClub

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BidaskClub cut shares of Nuvectra (NASDAQ:NVTR) from a buy rating to a hold rating in a report released on Thursday, September 20th.

A number of other equities research analysts have also commented on the company. Zacks Investment Research lowered Nuvectra from a buy rating to a hold rating in a research report on Wednesday, August 29th. JMP Securities upped their price target on Nuvectra from $18.00 to $23.00 and gave the company a market outperform rating in a research report on Wednesday, August 8th. Piper Jaffray Companies reiterated a buy rating and issued a $21.00 price target on shares of Nuvectra in a research report on Wednesday, August 8th. SunTrust Banks upped their target price on Nuvectra to $27.00 and gave the company a buy rating in a research report on Thursday, June 21st. Finally, ValuEngine upgraded Nuvectra from a hold rating to a buy rating in a research report on Saturday, June 2nd. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $23.50.

NVTR stock traded up $0.43 during midday trading on Thursday, reaching $21.75. 245,430 shares of the stock were exchanged, compared to its average volume of 186,082. The firm has a market capitalization of $313.45 million, a P/E ratio of -5.15 and a beta of -1.64. Nuvectra has a 52 week low of $7.60 and a 52 week high of $25.17. The company has a quick ratio of 3.77, a current ratio of 4.10 and a debt-to-equity ratio of 0.75.

Nuvectra (NASDAQ:NVTR) last issued its quarterly earnings data on Tuesday, August 7th. The company reported ($0.83) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.94) by $0.11. The business had revenue of $13.15 million for the quarter, compared to analyst estimates of $11.57 million. Nuvectra had a negative return on equity of 77.95% and a negative net margin of 98.28%. As a group, equities research analysts expect that Nuvectra will post -3.43 EPS for the current fiscal year.

In related news, President Joseph Paul Hanchin sold 1,250 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $20.43, for a total transaction of $25,537.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.60% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. Northern Trust Corp raised its stake in Nuvectra by 337.9% during the 2nd quarter. Northern Trust Corp now owns 174,903 shares of the company’s stock worth $3,590,000 after buying an additional 134,960 shares during the period. Bank of New York Mellon Corp raised its stake in Nuvectra by 665.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 102,751 shares of the company’s stock worth $2,110,000 after buying an additional 89,332 shares during the period. Millennium Management LLC raised its stake in Nuvectra by 3.3% during the 2nd quarter. Millennium Management LLC now owns 481,411 shares of the company’s stock worth $9,883,000 after buying an additional 15,236 shares during the period. MetLife Investment Advisors LLC acquired a new position in Nuvectra during the 2nd quarter worth approximately $148,000. Finally, Metropolitan Life Insurance Co. NY acquired a new position in Nuvectra during the 2nd quarter worth approximately $105,000. 73.95% of the stock is currently owned by institutional investors and hedge funds.

Nuvectra Company Profile

Nuvectra Corporation, a neuromodulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. It operates through two segments, Nuvectra and NeuroNexus. The company offers Algovita spinal cord stimulation system that is used for the treatment of chronic pain of the trunk and limbs.

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