Analysts Anticipate Nuvectra Corp (NASDAQ:NVTR) Will Announce Quarterly Sales of $12.40 Million

Equities research analysts expect Nuvectra Corp (NASDAQ:NVTR) to announce $12.40 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Nuvectra’s earnings, with estimates ranging from $12.20 million to $12.59 million. Nuvectra reported sales of $14.22 million during the same quarter last year, which would suggest a negative year over year growth rate of 12.8%. The company is expected to issue its next earnings report on Monday, November 4th.

According to Zacks, analysts expect that Nuvectra will report full-year sales of $50.25 million for the current financial year, with estimates ranging from $50.20 million to $50.29 million. For the next year, analysts expect that the company will post sales of $55.96 million, with estimates ranging from $54.72 million to $57.20 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Nuvectra.

Nuvectra (NASDAQ:NVTR) last issued its quarterly earnings results on Wednesday, July 31st. The company reported ($0.62) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.81) by $0.19. Nuvectra had a negative net margin of 99.08% and a negative return on equity of 58.23%. The firm had revenue of $12.35 million during the quarter, compared to the consensus estimate of $12.42 million.

A number of analysts have weighed in on the stock. JMP Securities reduced their price target on shares of Nuvectra to $10.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. They noted that the move was a valuation call. ValuEngine raised shares of Nuvectra from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Piper Jaffray Companies reduced their price objective on shares of Nuvectra from $18.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Finally, Zacks Investment Research raised shares of Nuvectra from a “hold” rating to a “buy” rating and set a $3.00 price objective for the company in a report on Wednesday, July 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $8.75.

Nuvectra stock traded up $0.09 during mid-day trading on Friday, reaching $1.64. The company had a trading volume of 276,075 shares, compared to its average volume of 302,658. The company has a quick ratio of 4.42, a current ratio of 4.86 and a debt-to-equity ratio of 0.58. Nuvectra has a 52 week low of $1.47 and a 52 week high of $25.17. The company has a 50 day moving average of $2.36 and a 200-day moving average of $7.33. The firm has a market cap of $29.33 million, a price-to-earnings ratio of -0.51 and a beta of 0.71.

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

Large investors have recently made changes to their positions in the stock. Raffles Associates LP increased its position in Nuvectra by 43.7% in the 2nd quarter. Raffles Associates LP now owns 328,675 shares of the company’s stock valued at $1,101,000 after acquiring an additional 100,000 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Nuvectra by 27.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 91,343 shares of the company’s stock valued at $306,000 after acquiring an additional 19,502 shares in the last quarter. Jane Street Group LLC acquired a new stake in Nuvectra in the 2nd quarter valued at about $239,000. Jefferies Group LLC acquired a new stake in Nuvectra in the 2nd quarter valued at about $52,000. Finally, Morgan Stanley increased its position in Nuvectra by 961.3% in the 2nd quarter. Morgan Stanley now owns 641,932 shares of the company’s stock valued at $2,151,000 after acquiring an additional 581,444 shares in the last quarter. 73.76% of the stock is owned by institutional investors and hedge funds.

Nuvectra Company Profile

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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Earnings History and Estimates for Nuvectra (NASDAQ:NVTR)

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