Nuvectra (NASDAQ:NVTR) Trading Up 7.9%

Nuvectra Corp (NASDAQ:NVTR) was up 7.9% during trading on Thursday . The stock traded as high as $3.95 and last traded at $3.95. Approximately 300,970 shares were traded during mid-day trading, an increase of 11% from the average daily volume of 270,844 shares. The stock had previously closed at $3.66.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Nuvectra from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Raymond James reduced their price objective on shares of Nuvectra from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. ValuEngine lowered shares of Nuvectra from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, JMP Securities reduced their target price on shares of Nuvectra from $26.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the stock. Nuvectra currently has an average rating of “Hold” and a consensus target price of $20.40.

The stock has a market capitalization of $70.31 million, a P/E ratio of -1.24 and a beta of 1.00. The company has a debt-to-equity ratio of 0.56, a quick ratio of 6.07 and a current ratio of 6.60.

Nuvectra (NASDAQ:NVTR) last issued its earnings results on Wednesday, May 1st. The company reported ($0.83) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.65) by ($0.18). The company had revenue of $11.13 million for the quarter, compared to analysts’ expectations of $12.76 million. Nuvectra had a negative return on equity of 62.18% and a negative net margin of 98.77%. Analysts predict that Nuvectra Corp will post -3.17 EPS for the current fiscal year.

In other Nuvectra news, insider Benjamin Tranchina acquired 8,500 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were purchased at an average cost of $4.25 per share, for a total transaction of $36,125.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Joseph Paul Hanchin sold 7,900 shares of the stock in a transaction that occurred on Wednesday, June 5th. The shares were sold at an average price of $3.98, for a total transaction of $31,442.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Marshall Wace LLP purchased a new position in Nuvectra during the 1st quarter valued at about $1,155,000. Morgan Stanley boosted its position in shares of Nuvectra by 104.7% in the first quarter. Morgan Stanley now owns 60,488 shares of the company’s stock worth $666,000 after acquiring an additional 30,936 shares during the last quarter. Man Group plc boosted its position in shares of Nuvectra by 44.9% in the first quarter. Man Group plc now owns 287,933 shares of the company’s stock worth $3,170,000 after acquiring an additional 89,164 shares during the last quarter. SEI Investments Co boosted its position in shares of Nuvectra by 2,712.3% in the first quarter. SEI Investments Co now owns 35,126 shares of the company’s stock worth $374,000 after acquiring an additional 33,877 shares during the last quarter. Finally, Cannell Capital LLC boosted its position in shares of Nuvectra by 2,750.6% in the first quarter. Cannell Capital LLC now owns 723,349 shares of the company’s stock worth $7,964,000 after acquiring an additional 697,974 shares during the last quarter. Hedge funds and other institutional investors own 81.14% of the company’s stock.

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Nuvectra Company Profile (NASDAQ:NVTR)

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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