Neovasc Inc. (NASDAQ:NVCN) – Equities researchers at Leerink Swann boosted their FY2018 earnings per share estimates for Neovasc in a research report issued on Tuesday. Leerink Swann analyst D. Antalffy now anticipates that the firm will earn ($0.16) per share for the year, up from their previous forecast of ($0.17). Leerink Swann also issued estimates for Neovasc’s FY2019 earnings at $0.09 EPS and FY2020 earnings at $0.46 EPS.
Several other equities research analysts also recently commented on the stock. Canaccord Genuity reiterated a “buy” rating and set a $7.00 price objective on shares of Neovasc in a research note on Tuesday, July 12th. Zacks Investment Research upgraded shares of Neovasc from a “sell” rating to a “hold” rating in a research note on Thursday, July 14th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $7.81.
Shares of Neovasc (NASDAQ:NVCN) opened at 0.5271 on Friday. The stock’s market cap is $35.25 million. Neovasc has a 52 week low of $0.37 and a 52 week high of $6.48. The firm has a 50-day moving average price of $0.57 and a 200-day moving average price of $1.53.
A number of hedge funds and other institutional investors have recently bought and sold shares of NVCN. Gagnon Advisors LLC increased 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 worth $975,000 after buying an additional 597,906 shares in the last quarter. Gagnon Securities LLC increased 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 worth $1,253,000 after buying an additional 375,243 shares in the last quarter. Capital World Investors increased 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 worth $2,808,000 after buying an additional 261,443 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in 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 in the last quarter. Institutional investors own 23.30% of the company’s stock.
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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