Neovasc (NASDAQ:NVCN) Rating Lowered to Neutral at HC Wainwright

Neovasc (NASDAQ:NVCN – Get Rating) (TSE:NVC) was downgraded by equities research analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a note issued to investors on Wednesday, The Fly reports.

Separately, StockNews.com initiated coverage on Neovasc in a report on Monday. They set a “sell” rating for the company.

Neovasc Stock Performance

NASDAQ:NVCN opened at $27.85 on Wednesday. Neovasc has a fifty-two week low of $4.59 and a fifty-two week high of $28.28. The company has a debt-to-equity ratio of 0.43, a quick ratio of 8.13 and a current ratio of 8.44. The company has a 50 day moving average price of $12.71 and a 200 day moving average price of $8.85. The stock has a market capitalization of $76.39 million, a P/E ratio of -2.27 and a beta of 1.72.

Neovasc (NASDAQ:NVCN – Get Rating) (TSE:NVC) last released its quarterly earnings results on Thursday, November 10th. The medical equipment provider reported ($3.00) EPS for the quarter, missing analysts’ consensus estimates of ($2.82) by ($0.18). Neovasc had a negative return on equity of 78.98% and a negative net margin of 1,077.37%. The firm had revenue of $0.92 million for the quarter, compared to analyst estimates of $1.00 million. Equities research analysts forecast that Neovasc will post -11.95 EPS for the current year.

About Neovasc

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Neovasc Inc, a specialty medical device company, develops, manufactures, and markets products for cardiovascular marketplace in Europe and internationally. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina.