Rhumbline Advisers Buys 2,502 Shares of Nuvectra Corp (NASDAQ:NVTR)

Rhumbline Advisers lifted its stake in Nuvectra Corp (NASDAQ:NVTR) by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,325 shares of the company’s stock after purchasing an additional 2,502 shares during the period. Rhumbline Advisers owned 0.13% of Nuvectra worth $246,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of NVTR. BNP Paribas Arbitrage SA bought a new position in shares of Nuvectra in the 1st quarter worth $40,000. PNC Financial Services Group Inc. boosted its position in shares of Nuvectra by 231.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,318 shares of the company’s stock worth $54,000 after purchasing an additional 2,318 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of Nuvectra by 356.5% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 5,108 shares of the company’s stock worth $83,000 after purchasing an additional 3,989 shares during the last quarter. American International Group Inc. boosted its position in shares of Nuvectra by 23.5% in the 4th quarter. American International Group Inc. now owns 11,394 shares of the company’s stock worth $186,000 after purchasing an additional 2,166 shares during the last quarter. Finally, Edge Wealth Management LLC boosted its position in shares of Nuvectra by 88.1% in the 1st quarter. Edge Wealth Management LLC now owns 21,140 shares of the company’s stock worth $235,000 after purchasing an additional 9,900 shares during the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.

NVTR has been the topic of several recent research reports. BidaskClub upgraded Nuvectra from a “sell” rating to a “hold” rating in a research report on Wednesday, February 20th. Raymond James reduced their price target on Nuvectra from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, March 1st. ValuEngine lowered Nuvectra from a “hold” rating to a “sell” rating in a research report on Friday, May 3rd. Finally, JMP Securities reduced their price target on Nuvectra from $26.00 to $18.00 and set an “outperform” rating on the stock in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating and five have given a buy rating to the company’s stock. Nuvectra presently has an average rating of “Hold” and a consensus target price of $20.40.

In other Nuvectra news, insider Benjamin Tranchina acquired 8,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were acquired at an average price of $4.25 per share, with a total value of $36,125.00. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Joseph Paul Hanchin sold 7,900 shares of the firm’s stock in a transaction on Wednesday, June 5th. The stock was sold at an average price of $3.98, for a total value of $31,442.00. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Shares of Nuvectra stock opened at $3.95 on Friday. The firm has a market cap of $65.15 million, a P/E ratio of -1.24 and a beta of 1.00. Nuvectra Corp has a 12 month low of $3.48 and a 12 month high of $25.17. The company has a debt-to-equity ratio of 0.56, a quick ratio of 6.07 and a current ratio of 6.60.

Nuvectra (NASDAQ:NVTR) last issued its quarterly earnings data on Wednesday, May 1st. The company reported ($0.83) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.65) by ($0.18). The business had revenue of $11.13 million for the quarter, compared to analyst estimates of $12.76 million. Nuvectra had a negative return on equity of 62.18% and a negative net margin of 98.77%. On average, analysts expect that Nuvectra Corp will post -3.17 EPS for the current year.

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About Nuvectra

Nuvectra Corporation, a neurostimulation medical device company, develops and commercializes neurostimulation technology platform for the treatment of various disorders in neuroscience and clinical markets. The company offers Algovita, a spinal cord stimulation system for the treatment of chronic intractable pain of the trunk and limbs.

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Institutional Ownership by Quarter for Nuvectra (NASDAQ:NVTR)

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