Neovasc Inc. (NASDAQ:NVCN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Neovasc Inc. is a specialty medical device company. It develops, manufactures and markets products for the cardiovascular marketplace. The Company’s products include the Tiara (TM) mitral valve prosthesis in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer (TM) for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products, including transcatheter heart valves. Neovasc Inc. is headquartered in Richmond, Canada. “

Neovasc (NASDAQ:NVCN) opened at 0.4841 on Friday. The company’s 50-day moving average price is $0.55 and its 200 day moving average price is $0.74. The stock’s market capitalization is $32.37 million. Neovasc has a 52 week low of $0.37 and a 52 week high of $5.04.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geduld E E raised its position in Neovasc by 133.3% in the third quarter. Geduld E E now owns 350,000 shares of the company’s stock valued at $184,000 after buying an additional 200,000 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. 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. Finally, 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. 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.

5 Day Chart for NASDAQ:NVCN

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