Nuvectra Corp (NASDAQ:NVTR) Expected to Announce Quarterly Sales of $13.32 Million

Brokerages predict that Nuvectra Corp (NASDAQ:NVTR) will post $13.32 million in sales for the current quarter, according to Zacks. Two analysts have made estimates for Nuvectra’s earnings, with the highest sales estimate coming in at $13.34 million and the lowest estimate coming in at $13.30 million. Nuvectra reported sales of $13.15 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.3%. The business is expected to announce its next quarterly earnings results on Tuesday, August 6th.

According to Zacks, analysts expect that Nuvectra will report full-year sales of $57.15 million for the current year, with estimates ranging from $57.00 million to $57.30 million. For the next fiscal year, analysts expect that the business will post sales of $68.33 million, with estimates ranging from $68.26 million to $68.40 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Nuvectra.

Nuvectra (NASDAQ:NVTR) last announced its quarterly earnings results on Wednesday, May 1st. The company reported ($0.83) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.65) by ($0.18). Nuvectra had a negative net margin of 98.77% and a negative return on equity of 62.18%. The company had revenue of $11.13 million during the quarter, compared to analyst estimates of $12.76 million.

NVTR has been the subject of several recent research reports. Raymond James lowered their price target on Nuvectra from $23.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, March 1st. BidaskClub downgraded Nuvectra from a “hold” rating to a “sell” rating in a report on Tuesday, February 26th. ValuEngine downgraded Nuvectra from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, JMP Securities lowered their price target on Nuvectra from $26.00 to $18.00 and set an “outperform” rating for the company in a 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 four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $18.75.

Shares of NASDAQ NVTR opened at $3.24 on Wednesday. Nuvectra has a 12-month low of $3.22 and a 12-month high of $25.17. The firm has a market cap of $58.74 million, a P/E ratio of -1.02 and a beta of 1.03. The company has a current ratio of 6.60, a quick ratio of 6.07 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average of $4.21.

In other news, President Joseph Paul Hanchin sold 7,900 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The stock was 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 can be accessed through this link. Also, Director David D. Johnson bought 20,000 shares of the stock in a transaction dated Monday, May 6th. The shares were acquired at an average price of $6.12 per share, with a total value of $122,400.00. The disclosure for this purchase can be found here. 2.90% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its stake in shares of Nuvectra by 231.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,318 shares of the company’s stock valued at $54,000 after acquiring an additional 2,318 shares in the last quarter. BNP Paribas Arbitrage SA acquired a new stake in shares of Nuvectra during the first quarter valued at about $40,000. Metropolitan Life Insurance Co. NY grew its stake in shares of Nuvectra by 356.5% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 5,108 shares of the company’s stock valued at $83,000 after acquiring an additional 3,989 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Nuvectra during the first quarter valued at about $64,000. Finally, American International Group Inc. grew its stake in shares of Nuvectra by 23.5% during the fourth quarter. American International Group Inc. now owns 11,394 shares of the company’s stock valued at $186,000 after acquiring an additional 2,166 shares in the last quarter. Institutional investors own 81.14% of the company’s stock.

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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