Nuvectra (NVTR) Stock Rating Upgraded by BidaskClub

Nuvectra (NASDAQ:NVTR) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Thursday.

Other analysts have also recently issued reports about the company. Zacks Investment Research upgraded Nuvectra from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Wednesday, August 22nd. ValuEngine upgraded Nuvectra from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. SunTrust Banks boosted their price target on Nuvectra to $27.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Piper Jaffray Companies restated a “buy” rating and set a $21.00 price target on shares of Nuvectra in a report on Wednesday, August 8th. Finally, JMP Securities boosted their price target on Nuvectra from $18.00 to $23.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $23.50.

Nuvectra stock opened at $22.27 on Thursday. The stock has a market capitalization of $322.57 million, a price-to-earnings ratio of -5.28 and a beta of -1.76. The company has a current ratio of 4.10, a quick ratio of 3.77 and a debt-to-equity ratio of 0.75. Nuvectra has a 12-month low of $7.60 and a 12-month high of $23.79.

Nuvectra (NASDAQ:NVTR) last released its quarterly earnings results on Tuesday, August 7th. The company reported ($0.83) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.94) by $0.11. The company had revenue of $13.15 million for the quarter, compared to analysts’ expectations of $11.57 million. Nuvectra had a negative return on equity of 77.95% and a negative net margin of 98.28%. equities analysts anticipate that Nuvectra will post -3.43 earnings per share for the current fiscal year.

In other news, President Joseph Paul Hanchin sold 1,250 shares of the business’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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.60% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. First Manhattan Co. acquired a new position in shares of Nuvectra in the second quarter worth approximately $102,000. Metropolitan Life Insurance Co. NY acquired a new position in shares of Nuvectra in the second quarter worth approximately $105,000. MetLife Investment Advisors LLC acquired a new position in shares of Nuvectra in the second quarter worth approximately $148,000. Element Capital Management LLC acquired a new position in shares of Nuvectra in the first quarter worth approximately $200,000. Finally, Financial Architects Inc lifted its stake in shares of Nuvectra by 300.0% in the second quarter. Financial Architects Inc now owns 10,000 shares of the company’s stock worth $205,000 after acquiring an additional 7,500 shares during the period. Institutional investors own 73.95% of the company’s stock.

About Nuvectra

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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