Neovasc (NVCN) Trading 5% Higher

Neovasc Inc (NASDAQ:NVCN) (TSE:NVC)’s share price traded up 5% on Wednesday . The stock traded as high as $0.64 and last traded at $0.63. 971,101 shares changed hands during trading, a decline of 16% from the average session volume of 1,152,250 shares. The stock had previously closed at $0.60.

A number of research firms have recently commented on NVCN. ValuEngine raised Neovasc from a “hold” rating to a “buy” rating in a report on Wednesday, January 2nd. Zacks Investment Research raised Neovasc from a “hold” rating to a “buy” rating and set a $1.50 price target for the company in a report on Wednesday, November 21st.

The firm has a market capitalization of $14.84 million, a P/E ratio of -0.02 and a beta of 1.59.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last posted its quarterly earnings results on Wednesday, November 14th. The medical equipment provider reported ($0.61) EPS for the quarter. The firm had revenue of $0.48 million during the quarter, compared to analysts’ expectations of $0.47 million. On average, equities research analysts anticipate that Neovasc Inc will post -1.4 EPS for the current fiscal year.

An institutional investor recently bought a new position in Neovasc stock. Capital Research Global Investors acquired a new position in Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 704,769 shares of the medical equipment provider’s stock, valued at approximately $1,917,000. Capital Research Global Investors owned approximately 3.62% of Neovasc as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 16.49% of the company’s stock.

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Neovasc Company Profile (NASDAQ:NVCN)

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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