Neovasc Inc. Expected to Post FY2019 Earnings of $0.10 Per Share (NVCN)
Neovasc Inc. (NASDAQ:NVCN) – Stock analysts at Leerink Swann upped their FY2019 earnings per share estimates for Neovasc in a report issued on Tuesday. Leerink Swann analyst D. Antalffy now expects that the firm will earn $0.10 per share for the year, up from their previous estimate of $0.09. Leerink Swann also issued estimates for Neovasc’s FY2020 earnings at $0.47 EPS.
Separately, Zacks Investment Research downgraded Neovasc from a “hold” rating to a “sell” rating in a research report on Friday.
Neovasc (NASDAQ:NVCN) traded down 0.227% during midday trading on Wednesday, hitting $0.483. The stock had a trading volume of 190,656 shares. The stock’s 50-day moving average is $0.55 and its 200-day moving average is $0.74. Neovasc has a 1-year low of $0.37 and a 1-year high of $5.04. The stock’s market capitalization is $32.30 million.
Large investors have recently modified their holdings of the company. Geduld E E increased its stake in shares of Neovasc by 133.3% in the third quarter. Geduld E E now owns 350,000 shares of the company’s stock worth $184,000 after buying an additional 200,000 shares during the last quarter. Gagnon Securities LLC increased its stake in shares of Neovasc by 18.2% in the second quarter. Gagnon Securities LLC now owns 2,431,837 shares of the company’s stock worth $1,253,000 after buying an additional 375,243 shares during the last quarter. Capital World Investors increased its stake in shares of Neovasc by 5.1% in the second quarter. Capital World Investors now owns 5,345,736 shares of the company’s stock worth $2,808,000 after buying an additional 261,443 shares during the last quarter. Gagnon Advisors LLC increased its stake in shares of Neovasc by 46.2% in the second quarter. Gagnon Advisors LLC now owns 1,892,125 shares of the company’s stock worth $975,000 after buying an additional 597,906 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of Neovasc by 20.7% in the first quarter. Geode Capital Management LLC now owns 25,929 shares of the company’s stock worth $110,000 after buying an additional 4,446 shares during the last quarter. Institutional investors and hedge funds own 23.63% of the company’s stock.
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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