FY2018 Earnings Estimate for Neovasc Inc. Issued By Leerink Swann (NVCN)
Neovasc Inc. (NASDAQ:NVCN) – Leerink Swann raised their FY2018 earnings per share estimates for shares of Neovasc in a research note issued to investors on Tuesday. Leerink Swann analyst D. Antalffy now expects that the firm will post earnings of ($0.16) per share for the year, up from their previous forecast of ($0.17). Leerink Swann also issued estimates for Neovasc’s FY2019 earnings at $0.09 EPS and FY2020 earnings at $0.46 EPS.
NVCN has been the subject of several other reports. Canaccord Genuity reissued a “buy” rating and issued a $7.00 price objective on shares of Neovasc in a research report on Tuesday, July 12th. Zacks Investment Research cut Neovasc from a “hold” rating to a “sell” rating in a research report on Thursday, June 30th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Neovasc has a consensus rating of “Buy” and an average price target of $7.81.
Shares of Neovasc (NASDAQ:NVCN) opened at 0.5271 on Friday. Neovasc has a 12-month low of $0.37 and a 12-month high of $6.48. The company has a 50-day moving average of $0.57 and a 200 day moving average of $1.53. The firm’s market cap is $35.25 million.
A number of hedge funds and other institutional investors have recently modified their holdings of NVCN. Geode Capital Management LLC raised its position in Neovasc by 20.7% in the first quarter. Geode Capital Management LLC now owns 25,929 shares of the company’s stock valued at $110,000 after buying an additional 4,446 shares in the last quarter. Gagnon Advisors LLC raised its position in Neovasc by 46.2% in the second quarter. Gagnon Advisors LLC now owns 1,892,125 shares of the company’s stock valued at $975,000 after buying an additional 597,906 shares in the last quarter. Gagnon Securities LLC raised its position in Neovasc by 18.2% in the second quarter. Gagnon Securities LLC now owns 2,431,837 shares of the company’s stock valued at $1,253,000 after buying an additional 375,243 shares in the last quarter. Finally, Capital World Investors raised its position in Neovasc by 5.1% in the second quarter. Capital World Investors now owns 5,345,736 shares of the company’s stock valued at $2,808,000 after buying an additional 261,443 shares in the last quarter. 23.30% of the stock is owned by hedge funds and other institutional investors.
Neovasc Company Profile
Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.
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