Neovasc Inc. (NASDAQ:NVCN) (TSE:NVC) gapped down before the market opened on Monday . The stock had previously closed at $1.77, but opened at $1.46. Neovasc shares last traded at $1.05, with a volume of 3283800 shares traded.

Separately, Zacks Investment Research lowered shares of Neovasc from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th.

The stock has a market cap of $82.86, a P/E ratio of 5.00 and a beta of 0.27.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last issued its quarterly earnings results on Thursday, August 10th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Neovasc had a negative net margin of 68.34% and a negative return on equity of 58.08%. The business had revenue of $1.31 million during the quarter, compared to analyst estimates of $1.40 million. equities analysts anticipate that Neovasc Inc. will post -0.26 earnings per share for the current year.

Hedge funds have recently modified their holdings of the business. Virtu KCG Holdings LLC acquired a new stake in Neovasc in the 2nd quarter valued at $149,000. Gagnon Advisors LLC increased its stake in Neovasc by 0.5% in the 2nd quarter. Gagnon Advisors LLC now owns 1,212,850 shares of the medical equipment provider’s stock valued at $1,674,000 after buying an additional 5,671 shares during the last quarter. Gagnon Securities LLC increased its stake in Neovasc by 5.2% in the 2nd quarter. Gagnon Securities LLC now owns 3,023,087 shares of the medical equipment provider’s stock valued at $4,172,000 after buying an additional 149,642 shares during the last quarter. Finally, Capital World Investors increased its stake in Neovasc by 9.1% in the 2nd quarter. Capital World Investors now owns 6,294,667 shares of the medical equipment provider’s stock valued at $8,737,000 after buying an additional 522,864 shares during the last quarter. Hedge funds and other institutional investors own 19.40% of the company’s stock.

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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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