Neovasc (NVCN) Trading 6% Higher

Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) traded up 6% on Monday . The company traded as high as $0.54 and last traded at $0.53. 1,500,927 shares were traded during trading, a decline of 23% from the average session volume of 1,941,349 shares. The stock had previously closed at $0.50.

A number of equities research analysts have weighed in on the stock. ValuEngine upgraded shares of Neovasc from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research lowered shares of Neovasc from a “hold” rating to a “sell” rating in a research note on Wednesday, March 27th.

The company has a market cap of $32.81 million, a price-to-earnings ratio of -0.19 and a beta of 1.67.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last announced its earnings results on Thursday, March 21st. The medical equipment provider reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.02). The business had revenue of $0.52 million for the quarter, compared to analyst estimates of $0.60 million. On average, analysts predict that Neovasc Inc will post -0.25 earnings per share for the current fiscal year.

Large investors have recently bought and sold shares of the company. Virtu Financial LLC purchased a new stake in shares of Neovasc in the 4th quarter worth $38,000. Wedbush Securities Inc. purchased a new stake in shares of Neovasc in the 1st quarter worth $53,000. Finally, Perkins Capital Management Inc. purchased a new stake in shares of Neovasc in the 1st quarter worth $234,000. Hedge funds and other institutional investors own 5.63% of the company’s stock.

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Neovasc Company Profile (NASDAQ:NVCN)

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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