Nuvectra (NASDAQ:NVTR) Downgraded by Zacks Investment Research to Hold

Nuvectra (NASDAQ:NVTR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday, Zacks.com reports.

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. “

A number of other analysts have also weighed in on the company. Piper Jaffray Companies cut their price objective on Nuvectra from $18.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, August 1st. ValuEngine raised Nuvectra from a “hold” rating to a “buy” rating in a research report on Thursday, October 10th. Finally, JMP Securities cut their price objective on Nuvectra to $10.00 and set an “outperform” rating on the stock in a research report on Thursday, August 1st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $8.75.

Nuvectra stock opened at $1.71 on Wednesday. Nuvectra has a twelve month low of $1.24 and a twelve month high of $22.08. The stock’s fifty day simple moving average is $1.55 and its 200-day simple moving average is $3.71. The company has a current ratio of 4.86, a quick ratio of 4.42 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $33.09 million, a P/E ratio of -0.54 and a beta of 0.70.

Nuvectra (NASDAQ:NVTR) last posted its quarterly earnings data on Wednesday, July 31st. The company reported ($0.62) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.81) by $0.19. Nuvectra had a negative return on equity of 58.23% and a negative net margin of 99.08%. The business had revenue of $12.35 million for the quarter, compared to analyst estimates of $12.42 million. Sell-side analysts predict that Nuvectra will post -2.44 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC acquired a new position in Nuvectra in the second quarter valued at $35,000. SNS Financial Group LLC acquired a new stake in shares of Nuvectra during the second quarter worth about $36,000. Resources Investment Advisors LLC. acquired a new stake in shares of Nuvectra during the second quarter worth about $39,000. Tower Research Capital LLC TRC raised its holdings in Nuvectra by 1,431.1% during the second quarter. Tower Research Capital LLC TRC now owns 13,030 shares of the company’s stock worth $44,000 after purchasing an additional 12,179 shares in the last quarter. Finally, Jefferies Group LLC purchased a new position in Nuvectra during the second quarter worth about $52,000. Institutional investors own 78.24% of the company’s stock.

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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