FY2016 EPS Estimates for Nuvectra Corp. Raised by B. Riley (NVTR)
Nuvectra Corp. (NASDAQ:NVTR) – Equities researchers at B. Riley lifted their FY2016 earnings estimates for Nuvectra Corp. in a research note issued to investors on Thursday. B. Riley analyst G. Chodaczek now expects that the firm will post earnings of ($3.43) per share for the year, up from their prior estimate of ($3.54). B. Riley has a “Buy” rating and a $12.00 price target on the stock. B. Riley also issued estimates for Nuvectra Corp.’s Q4 2016 earnings at ($0.97) EPS, Q1 2017 earnings at ($1.01) EPS, Q2 2017 earnings at ($0.79) EPS, Q3 2017 earnings at ($0.74) EPS, Q4 2017 earnings at ($0.69) EPS and FY2017 earnings at ($3.23) EPS.
Nuvectra Corp. (NASDAQ:NVTR) last posted its quarterly earnings data on Wednesday, November 9th. 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 firm had revenue of $3.80 million for the quarter, compared to the consensus estimate of $2.81 million. Nuvectra Corp. had a negative return on equity of 33.89% and a negative net margin of 320.73%. The firm’s quarterly revenue was up 192.3% on a year-over-year basis.
Separately, Piper Jaffray Cos. reaffirmed a “neutral” rating and issued a $10.00 price target (down previously from $12.00) on shares of Nuvectra Corp. in a research note on Saturday, August 13th.
Shares of Nuvectra Corp. (NASDAQ:NVTR) opened at 4.85 on Monday. Nuvectra Corp. has a 12-month low of $4.02 and a 12-month high of $11.64. The company’s market capitalization is $49.85 million. The company’s 50 day moving average is $6.00 and its 200 day moving average is $7.03.
A number of hedge funds and other institutional investors have recently made changes to their positions in NVTR. Tower Research Capital LLC TRC raised 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 during the last quarter. Palisade Capital Management LLC NJ acquired a new stake in Nuvectra Corp. during the third quarter worth about $453,000. Essex Investment Management Co. LLC acquired a new stake in Nuvectra Corp. during the third quarter worth about $523,000. Gilder Gagnon Howe & Co. LLC increased its stake in 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 during the period. Finally, Wells Fargo & Company MN increased its stake in 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 during the period. 65.00% of the stock is currently owned by hedge funds and other 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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