Zacks Investment Research Downgrades Nuvectra (NVTR) to Sell

Nuvectra (NASDAQ:NVTR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

According to Zacks, “Nuvectra Corporation develops and commercializes neuromodulation medical device for the treatment of nervous system disorders. It also provides neural interface technology, components and systems, as well as NeuroNexus SmartBox portable control and data streaming systems. Nuvectra Corporation is based in Plano, Texas. “

Several other analysts have also issued reports on NVTR. BidaskClub lowered Nuvectra from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Piper Jaffray Companies reiterated a “buy” rating and set a $21.00 price objective on shares of Nuvectra in a report on Wednesday, August 8th. Finally, JMP Securities increased their price objective on Nuvectra from $18.00 to $23.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Nuvectra presently has a consensus rating of “Buy” and a consensus price target of $23.50.

Shares of Nuvectra stock traded up $0.02 during midday trading on Friday, hitting $21.39. The company’s stock had a trading volume of 122,935 shares, compared to its average volume of 235,265. The company has a quick ratio of 3.77, a current ratio of 7.63 and a debt-to-equity ratio of 0.42. Nuvectra has a 1-year low of $7.60 and a 1-year high of $25.17.

Nuvectra (NASDAQ:NVTR) last announced its quarterly earnings data on Monday, October 29th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.01). Nuvectra had a negative return on equity of 65.86% and a negative net margin of 87.94%. The firm had revenue of $14.22 million for the quarter, compared to analysts’ expectations of $12.38 million. As a group, equities research analysts expect that Nuvectra will post -3.44 EPS for the current year.

In other news, President Joseph Paul Hanchin sold 1,250 shares of the firm’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $20.43, for a total value of $25,537.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.60% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of NVTR. Rockefeller Capital Management L.P. grew its position in Nuvectra by 0.6% during the third quarter. Rockefeller Capital Management L.P. now owns 432,040 shares of the company’s stock worth $9,496,000 after buying an additional 2,464 shares in the last quarter. First Manhattan Co. acquired a new stake in Nuvectra during the second quarter valued at approximately $102,000. Metropolitan Life Insurance Co. NY acquired a new stake in Nuvectra during the second quarter valued at approximately $105,000. Essex Investment Management Co. LLC boosted its holdings in Nuvectra by 3.8% during the third quarter. Essex Investment Management Co. LLC now owns 183,418 shares of the company’s stock valued at $4,032,000 after purchasing an additional 6,729 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new stake in Nuvectra during the second quarter valued at approximately $148,000. 78.21% of the stock is currently owned by institutional investors.

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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