Neovasc (NASDAQ:NVCN) Given “Hold” Rating at Zacks Investment Research

Neovasc (NASDAQ:NVCN) (TSE:NVC)‘s stock had its “hold” rating restated by Zacks Investment Research in a research report issued on Saturday, Zacks.com reports.

According to Zacks, “Neovasc Inc. is a specialty medical device company. It develops, manufactures and markets products for the cardiovascular marketplace. The Company’s products include the Tiara (TM) mitral valve prosthesis in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer (TM) for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products, including transcatheter heart valves. Neovasc Inc. is headquartered in Richmond, Canada. “

Separately, ValuEngine raised shares of Neovasc from a “hold” rating to a “buy” rating in a research note on Friday, March 1st.

NASDAQ:NVCN opened at $0.48 on Friday. The stock has a 50-day simple moving average of $0.51. The stock has a market capitalization of $34.11 million, a P/E ratio of -0.18 and a beta of 1.49. Neovasc has a twelve month low of $0.37 and a twelve month high of $4.58.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last posted its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.13). The firm had revenue of $0.59 million for the quarter, compared to analysts’ expectations of $0.40 million. Analysts forecast that Neovasc will post -0.6 earnings per share for the current year.

A hedge fund recently bought a new stake in Neovasc stock. Wedbush Securities Inc. bought a new position in shares of Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 126,000 shares of the medical equipment provider’s stock, valued at approximately $53,000. Wedbush Securities Inc. owned 0.20% of Neovasc at the end of the most recent reporting period. 9.98% of the stock is currently owned by institutional investors.

About Neovasc

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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