Neovasc (NASDAQ:NVCN) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Neovasc (NASDAQ:NVCN – Get Rating) (TSE:NVC) in a research note issued on Monday. The firm set a “sell” rating on the medical equipment provider’s stock.

Several other analysts also recently commented on NVCN. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Neovasc in a report on Friday, March 11th. Zacks Investment Research raised shares of Neovasc from a “sell” rating to a “hold” rating in a report on Wednesday, January 12th.

Shares of Neovasc stock opened at $0.38 on Monday. The company has a current ratio of 11.08, a quick ratio of 10.79 and a debt-to-equity ratio of 0.16. Neovasc has a 12-month low of $0.36 and a 12-month high of $1.13. The firm has a market capitalization of $25.72 million, a price-to-earnings ratio of -1.03 and a beta of 2.42. The firm’s 50 day simple moving average is $0.43 and its two-hundred day simple moving average is $0.56.

Neovasc (NASDAQ:NVCN – Get Rating) (TSE:NVC) last issued its quarterly earnings results on Thursday, March 10th. The medical equipment provider reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. Neovasc had a negative net margin of 952.85% and a negative return on equity of 35.09%. The business had revenue of $0.76 million for the quarter, compared to analyst estimates of $0.80 million. On average, sell-side analysts predict that Neovasc will post -0.2 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. UBS Group AG raised its stake in Neovasc by 564.9% during the third quarter. UBS Group AG now owns 34,701 shares of the medical equipment provider’s stock worth $25,000 after purchasing an additional 29,482 shares during the period. Susquehanna International Group LLP purchased a new stake in shares of Neovasc in the 4th quarter valued at approximately $26,000. Goldman Sachs Group Inc. purchased a new stake in shares of Neovasc in the 2nd quarter valued at approximately $70,000. Citadel Advisors LLC raised its stake in shares of Neovasc by 60.5% in the 2nd quarter. Citadel Advisors LLC now owns 118,434 shares of the medical equipment provider’s stock valued at $109,000 after acquiring an additional 44,641 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Neovasc in the 4th quarter valued at approximately $67,000. 2.14% of the stock is currently owned by institutional investors.

Neovasc Company Profile (Get Rating)

Neovasc, Inc engages in the development, manufacture and marketing of medical devices. It focuses on Neovast Tiara and Neovasc Reducer products. The company was founded on November 2, 2000 and is headquartered in Richmond, Canada.

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