Nuvectra Corp (NASDAQ:NVTR) Receives Consensus Recommendation of “Buy” from Analysts

Nuvectra Corp (NASDAQ:NVTR) has received a consensus recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $10.67.

Several research firms have recently commented on NVTR. Piper Jaffray Companies cut their price objective on Nuvectra from $18.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. JMP Securities dropped their price target on Nuvectra to $10.00 and set an “outperform” rating on the stock in a research note on Thursday, August 1st. They noted that the move was a valuation call. Zacks Investment Research cut Nuvectra from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Finally, ValuEngine upgraded Nuvectra from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Morgan Stanley raised its stake in Nuvectra by 961.3% in the 2nd quarter. Morgan Stanley now owns 641,932 shares of the company’s stock valued at $2,151,000 after acquiring an additional 581,444 shares during the period. Renaissance Technologies LLC bought a new stake in Nuvectra in the 2nd quarter valued at $1,987,000. Royal Bank of Canada raised its stake in Nuvectra by 71.5% in the 2nd quarter. Royal Bank of Canada now owns 491,286 shares of the company’s stock valued at $1,646,000 after acquiring an additional 204,777 shares during the period. Penn Capital Management Co. Inc. raised its stake in Nuvectra by 14.0% in the 2nd quarter. Penn Capital Management Co. Inc. now owns 334,662 shares of the company’s stock valued at $1,121,000 after acquiring an additional 41,054 shares during the period. Finally, Raffles Associates LP raised its stake in Nuvectra by 43.7% in the 2nd quarter. Raffles Associates LP now owns 328,675 shares of the company’s stock valued at $1,101,000 after acquiring an additional 100,000 shares during the period. Institutional investors and hedge funds own 78.10% of the company’s stock.

NASDAQ NVTR opened at $1.79 on Monday. The company has a market cap of $26.65 million, a PE ratio of -0.56 and a beta of 0.70. The company has a current ratio of 4.86, a quick ratio of 4.42 and a debt-to-equity ratio of 0.58. Nuvectra has a 12 month low of $1.24 and a 12 month high of $22.13. The stock has a 50 day moving average of $1.57 and a 200-day moving average of $3.89.

Nuvectra (NASDAQ:NVTR) last released its quarterly earnings data on Wednesday, July 31st. The company reported ($0.62) EPS for the quarter, beating the consensus estimate of ($0.81) by $0.19. The company had revenue of $12.35 million during the quarter, compared to the consensus estimate of $12.42 million. Nuvectra had a negative return on equity of 58.23% and a negative net margin of 99.08%. As a group, sell-side analysts predict that Nuvectra will post -2.44 EPS for the current fiscal year.

Nuvectra Company Profile

Nuvectra Corporation, a neurostimulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. The company offers Algovita, a spinal cord stimulation system for the treatment of chronic intractable pain of the trunk and limbs.

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