StockNews.com Initiates Coverage on Neovasc (NASDAQ:NVCN)

StockNews.com began coverage on shares of Neovasc (NASDAQ:NVCNGet Rating) (TSE:NVC) in a report issued on Saturday. The brokerage set a “sell” rating on the medical equipment provider’s stock.

Separately, HC Wainwright reaffirmed a “buy” rating and set a $125.00 price objective on shares of Neovasc in a report on Friday, March 11th.

NVCN stock opened at $5.53 on Friday. The company has a quick ratio of 12.50, a current ratio of 12.88 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $14.97 million, a price-to-earnings ratio of -0.46 and a beta of 2.48. Neovasc has a 12 month low of $4.64 and a 12 month high of $28.25. The firm has a 50 day moving average of $11.72 and a two-hundred day moving average of $12.96.

Neovasc (NASDAQ:NVCNGet Rating) (TSE:NVC) last posted its earnings results on Thursday, March 10th. The medical equipment provider reported ($2.25) EPS for the quarter, topping the consensus estimate of ($2.50) by $0.25. The company had revenue of $0.76 million during the quarter, compared to the consensus estimate of $0.80 million. Neovasc had a negative net margin of 1,192.20% and a negative return on equity of 50.69%. On average, research analysts expect that Neovasc will post -5 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG boosted its holdings in shares of Neovasc by 564.9% during the 3rd quarter. UBS Group AG now owns 34,701 shares of the medical equipment provider’s stock worth $25,000 after buying an additional 29,482 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Neovasc by 60.5% during the 2nd quarter. Citadel Advisors LLC now owns 118,434 shares of the medical equipment provider’s stock worth $109,000 after buying an additional 44,641 shares during the period. Susquehanna International Group LLP bought a new stake in shares of Neovasc during the 4th quarter worth $26,000. Goldman Sachs Group Inc. acquired a new position in Neovasc during the 2nd quarter valued at $70,000. Finally, Renaissance Technologies LLC acquired a new position in Neovasc during the 4th quarter valued at $67,000. 2.42% of the stock is owned by institutional investors and hedge funds.

About Neovasc (Get Rating)

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets products for cardiovascular marketplace in Europe and internationally. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina.

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