Nuvectra Corporation (NASDAQ:NVTR) issued its quarterly earnings data on Wednesday. The company reported ($1.09) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.16) by $0.07, Briefing.com reports. Nuvectra Corporation had a negative net margin of 232.31% and a negative return on equity of 56.68%. The company had revenue of $7.60 million during the quarter, compared to the consensus estimate of $8.08 million. During the same quarter last year, the company earned ($0.92) earnings per share. Nuvectra Corporation’s revenue for the quarter was up 100.0% on a year-over-year basis.
Several analysts have issued reports on the stock. ValuEngine downgraded shares of Nuvectra Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Nuvectra Corporation from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Finally, Piper Jaffray Companies reaffirmed a “neutral” rating and issued a $14.00 price objective on shares of Nuvectra Corporation in a research report on Thursday, July 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Nuvectra Corporation currently has a consensus rating of “Hold” and a consensus target price of $13.00.
In other Nuvectra Corporation news, CEO Scott F. Drees purchased 10,000 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $11.72 per share, with a total value of $117,200.00. Following the transaction, the chief executive officer now directly owns 125,180 shares in the company, valued at approximately $1,467,109.60. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.60% of the company’s stock.
About Nuvectra Corporation
Nuvectra Corporation is a neurostimulation company that focuses on helping physicians to improve the lives of people with chronic neurological conditions. The Company’s Algovita Spinal Cord Stimulation (SCS) System (Algovita) is the Company’s commercial offering and is Conformite Europeene (CE) marked and the United States Food and Drug Administration (FDA) approved for the treatment of chronic pain of the trunk and/or limbs.
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