First Light Asset Management LLC bought a new position in shares of Nuvectra Corp (NASDAQ:NVTR) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 413,646 shares of the company’s stock, valued at approximately $5,386,000. Nuvectra comprises approximately 1.2% of First Light Asset Management LLC’s portfolio, making the stock its 24th biggest position.
Other hedge funds have also recently added to or reduced their stakes in the company. Element Capital Management LLC bought a new stake in shares of Nuvectra during the first quarter worth $200,000. JPMorgan Chase & Co. raised its position in shares of Nuvectra by 1,053.5% during the first quarter. JPMorgan Chase & Co. now owns 19,309 shares of the company’s stock worth $251,000 after acquiring an additional 17,635 shares during the last quarter. Spark Investment Management LLC raised its position in shares of Nuvectra by 34.5% during the fourth quarter. Spark Investment Management LLC now owns 35,500 shares of the company’s stock worth $275,000 after acquiring an additional 9,100 shares during the last quarter. Tibra Equities Europe Ltd bought a new stake in shares of Nuvectra during the first quarter worth $400,000. Finally, Granite Investment Partners LLC bought a new stake in shares of Nuvectra during the first quarter worth $471,000. Institutional investors own 72.44% of the company’s stock.
NVTR stock opened at $21.77 on Thursday. The firm has a market cap of $292.55 million, a PE ratio of -5.16 and a beta of -1.90. Nuvectra Corp has a twelve month low of $7.60 and a twelve month high of $22.00. The company has a quick ratio of 5.15, a current ratio of 5.51 and a debt-to-equity ratio of 0.61.
NVTR has been the subject of a number of recent research reports. ValuEngine upgraded Nuvectra from a “hold” rating to a “buy” rating in a research report on Saturday, June 2nd. SunTrust Banks initiated coverage on Nuvectra in a research report on Thursday, March 29th. They set a “buy” rating for the company. JMP Securities initiated coverage on Nuvectra in a research report on Wednesday, February 14th. They set an “outperform” rating for the company. Piper Jaffray Companies upgraded Nuvectra from a “neutral” rating to an “overweight” rating in a research report on Friday, March 16th. Finally, Zacks Investment Research downgraded Nuvectra from a “hold” rating to a “sell” rating in a research report on Thursday, May 17th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $12.00.
Nuvectra Company Profile
Nuvectra Corporation, a neuromodulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. It operates through two segments, Nuvectra and NeuroNexus. The company offers Algovita spinal cord stimulation system that is used for the treatment of chronic pain of the trunk and limbs.
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