Neovasc (NVCN) Cut to Strong Sell at ValuEngine

Neovasc (NASDAQ:NVCN) (TSE:NVC) was downgraded by stock analysts at ValuEngine from a “sell” rating to a “strong sell” rating in a report issued on Friday.

Separately, Zacks Investment Research cut shares of Neovasc from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. Neovasc presently has a consensus rating of “Hold” and a consensus target price of $5.19.

Neovasc (NASDAQ:NVCN) remained flat at $$0.78 during midday trading on Friday. 306,242 shares of the company were exchanged, compared to its average volume of 650,144. The stock has a market capitalization of $61.56, a price-to-earnings ratio of 2.89 and a beta of -0.03. Neovasc has a fifty-two week low of $0.70 and a fifty-two week high of $3.34.

An institutional investor recently bought a new position in Neovasc stock. Virtu KCG Holdings LLC bought a new stake in Neovasc Inc. (NASDAQ:NVCN) (TSE:NVC) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 108,132 shares of the medical equipment provider’s stock, valued at approximately $149,000. Virtu KCG Holdings LLC owned about 0.14% of Neovasc as of its most recent SEC filing. 19.22% of the stock is owned by institutional investors.

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Neovasc Company Profile

Neovasc Inc (Neovasc) is a specialty medical device company. The Company develops, manufactures and markets products for the cardiovascular marketplace. The Company’s segment is the development, manufacture and marketing of medical devices. Its products include the Tiara technology in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer for the treatment of refractory angina, and tissue products.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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