Nuvectra Corp. (NVTR) Issues Quarterly Earnings Results
Nuvectra Corp. (NASDAQ:NVTR) issued its quarterly earnings results on Wednesday. The company reported ($0.92) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.88) by $0.05. The business earned $3.80 million during the quarter, compared to analysts’ expectations of $2.81 million. The company’s revenue for the quarter was up 192.3% compared to the same quarter last year.
Nuvectra Corp. (NASDAQ:NVTR) opened at 4.92 on Friday. Nuvectra Corp. has a 12 month low of $4.02 and a 12 month high of $11.64. The firm’s market capitalization is $50.56 million. The stock’s 50 day moving average price is $6.05 and its 200-day moving average price is $7.06.
Several equities analysts have issued reports on NVTR shares. Piper Jaffray Cos. reissued a “neutral” rating and issued a $10.00 price target (down from $12.00) on shares of Nuvectra Corp. in a research note on Saturday, August 13th. B. Riley started coverage on Nuvectra Corp. in a research note on Thursday, September 15th. They issued a “buy” rating and a $12.00 price target on the stock.
Several institutional investors have recently made changes to their positions in NVTR. Tower Research Capital LLC TRC boosted its position in shares of Nuvectra Corp. by 538.8% in the third quarter. Tower Research Capital LLC TRC now owns 14,572 shares of the company’s stock worth $101,000 after buying an additional 12,291 shares in the last quarter. Palisade Capital Management LLC NJ purchased a new position in shares of Nuvectra Corp. during the third quarter worth $453,000. Essex Investment Management Co. LLC purchased a new position in shares of Nuvectra Corp. during the third quarter worth $523,000. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Nuvectra Corp. by 6.9% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 809,770 shares of the company’s stock worth $5,604,000 after buying an additional 52,345 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Nuvectra Corp. by 4.0% in the third quarter. Wells Fargo & Company MN now owns 122,929 shares of the company’s stock worth $850,000 after buying an additional 4,782 shares in the last quarter. 65.00% of the stock is currently owned by institutional investors.
Nuvectra Corp. Company Profile
Nuvectra Corporation, formerly QIG Group, LLC, is a neurostimulation company. The Company is focused on the development and commercialization of a neurostimulation technology platform, which is used for the treatment of various disorders through stimulation of tissues associated with the nervous system.
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