Neovasc (NASDAQ:NVCN) Shares Gap Up to $3.13

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Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) gapped up prior to trading on Thursday . The stock had previously closed at $2.84, but opened at $3.13. Neovasc shares last traded at $3.14, with a volume of 7,899 shares.

NVCN has been the subject of several research reports. HC Wainwright set a $9.00 price objective on Neovasc and gave the stock a “buy” rating in a research note on Monday, November 4th. ValuEngine upgraded Neovasc from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 31st. Finally, Zacks Investment Research lowered Neovasc from a “buy” rating to a “hold” rating in a research note on Wednesday, January 8th.

The company has a 50 day simple moving average of $3.35 and a 200 day simple moving average of $3.35. The company has a market capitalization of $26.87 million, a PE ratio of -0.12 and a beta of 1.68.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last posted its quarterly earnings data on Thursday, November 7th. The medical equipment provider reported ($0.93) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.22) by $0.29. The firm had revenue of $0.50 million for the quarter, compared to analysts’ expectations of $0.85 million. Analysts expect that Neovasc Inc will post -3.35 EPS for the current fiscal year.

Large investors have recently bought and sold shares of the business. Citadel Advisors LLC purchased a new stake in Neovasc during the 2nd quarter worth approximately $36,000. Kessler Investment Group LLC purchased a new stake in Neovasc during the 4th quarter worth approximately $39,000. Bank of Montreal Can increased its stake in Neovasc by 72.7% during the 2nd quarter. Bank of Montreal Can now owns 51,807 shares of the medical equipment provider’s stock worth $250,000 after buying an additional 21,807 shares in the last quarter. Finally, Magnetar Financial LLC increased its stake in Neovasc by 325.3% during the 2nd quarter. Magnetar Financial LLC now owns 4,809,269 shares of the medical equipment provider’s stock worth $2,322,000 after buying an additional 3,678,404 shares in the last quarter. Institutional investors own 15.04% of the company’s stock.

About Neovasc (NASDAQ:NVCN)

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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