Spark Investment Management LLC boosted its position in Nuvectra Corp (NASDAQ:NVTR) by 45.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 194,700 shares of the company’s stock after purchasing an additional 60,900 shares during the quarter. Spark Investment Management LLC’s holdings in Nuvectra were worth $2,143,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVTR. BlackRock Inc. increased its stake in Nuvectra by 15.9% during the third quarter. BlackRock Inc. now owns 956,198 shares of the company’s stock valued at $21,019,000 after purchasing an additional 130,946 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Nuvectra by 181.4% during the third quarter. Renaissance Technologies LLC now owns 77,100 shares of the company’s stock valued at $1,695,000 after acquiring an additional 49,700 shares during the period. MetLife Investment Advisors LLC boosted its holdings in shares of Nuvectra by 57.1% during the third quarter. MetLife Investment Advisors LLC now owns 11,360 shares of the company’s stock valued at $250,000 after acquiring an additional 4,128 shares during the period. Teachers Advisors LLC boosted its holdings in shares of Nuvectra by 13.4% during the third quarter. Teachers Advisors LLC now owns 30,417 shares of the company’s stock valued at $669,000 after acquiring an additional 3,600 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Nuvectra by 13.1% during the third quarter. Vanguard Group Inc. now owns 677,798 shares of the company’s stock valued at $14,898,000 after acquiring an additional 78,724 shares during the period. Institutional investors and hedge funds own 82.58% of the company’s stock.
NVTR has been the subject of several analyst reports. BidaskClub raised shares of Nuvectra from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. ValuEngine downgraded shares of Nuvectra from a “buy” rating to a “hold” rating in a report on Saturday, February 2nd. JMP Securities reduced their price target on shares of Nuvectra from $26.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, May 2nd. They noted that the move was a valuation call. Finally, Raymond James reduced their price target on shares of Nuvectra from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, March 1st. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $20.40.
Shares of NVTR traded up $0.10 during midday trading on Tuesday, hitting $4.51. 2,063 shares of the stock traded hands, compared to its average volume of 250,695. Nuvectra Corp has a 1-year low of $4.26 and a 1-year high of $25.17. The company has a market cap of $78.32 million, a price-to-earnings ratio of -1.42 and a beta of -0.19. 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 posted its quarterly earnings data on Wednesday, May 1st. The company reported ($0.83) earnings per share for the quarter, missing the consensus estimate of ($0.65) by ($0.18). The company had revenue of $11.13 million during the quarter, compared to analyst estimates 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 year.
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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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