Neovasc (NASDAQ:NVCN) Stock Rating Lowered by Zacks Investment Research

Neovasc (NASDAQ:NVCN) (TSE:NVC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday, Zacks.com reports.

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. “

Separately, ValuEngine cut shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd.

Shares of NASDAQ:NVCN opened at $4.00 on Friday. The business’s 50-day simple moving average is $1.43. Neovasc has a one year low of $3.72 and a one year high of $45.80.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last issued its quarterly earnings results on Thursday, May 9th. The medical equipment provider reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.13). The business had revenue of $0.59 million for the quarter, compared to analysts’ expectations of $0.40 million. On average, sell-side analysts anticipate that Neovasc will post -6 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Neovasc stock. Wedbush Securities Inc. bought a new stake in Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 126,000 shares of the medical equipment provider’s stock, valued at approximately $53,000. Wedbush Securities Inc. owned 0.20% of Neovasc as of its most recent filing with the SEC. Institutional investors own 9.98% of the company’s stock.

Neovasc Company Profile

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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