Nuvectra (NVTR) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

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Nuvectra (NASDAQ:NVTR) released its quarterly earnings results on Monday. The company reported ($0.87) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.01), MarketWatch Earnings reports. The company had revenue of $14.22 million during the quarter, compared to analyst estimates of $12.38 million. Nuvectra had a negative net margin of 98.28% and a negative return on equity of 77.95%.

Shares of NASDAQ NVTR traded up $0.50 during mid-day trading on Tuesday, reaching $19.74. 22,287 shares of the company’s stock were exchanged, compared to its average volume of 250,596. The stock has a market capitalization of $272.09 million, a price-to-earnings ratio of -4.72 and a beta of -1.64. Nuvectra has a 52 week low of $7.60 and a 52 week high of $25.17. The company has a debt-to-equity ratio of 0.75, a current ratio of 4.10 and a quick ratio of 3.77.

A number of brokerages have issued reports on NVTR. Piper Jaffray Companies reiterated a “buy” rating and set a $21.00 price objective on shares of Nuvectra in a research note on Wednesday, August 8th. BidaskClub downgraded shares of Nuvectra from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 3rd. Zacks Investment Research raised shares of Nuvectra from a “hold” rating to a “buy” rating and set a $23.00 price objective on the stock in a report on Wednesday, August 22nd. Finally, JMP Securities lifted their price objective on shares of Nuvectra from $18.00 to $23.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Nuvectra has a consensus rating of “Buy” and a consensus target price of $23.50.

In other news, President Joseph Paul Hanchin sold 1,250 shares of Nuvectra stock in a transaction on Monday, August 20th. The stock was sold at an average price of $20.43, for a total transaction of $25,537.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.60% of the company’s stock.

A hedge fund recently raised its stake in Nuvectra stock. Bank of New York Mellon Corp grew its stake in shares of Nuvectra Corp (NASDAQ:NVTR) by 665.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 102,751 shares of the company’s stock after purchasing an additional 89,332 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Nuvectra worth $2,110,000 at the end of the most recent quarter. 78.21% of the stock is currently owned by institutional investors and hedge funds.

About Nuvectra

Nuvectra Corporation, a neuromodulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. It operates through two segments, Nuvectra and NeuroNexus. The company offers Algovita spinal cord stimulation system that is used for the treatment of chronic pain of the trunk and limbs.

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Earnings History for Nuvectra (NASDAQ:NVTR)

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