-$0.89 Earnings Per Share Expected for Neovasc Inc (NASDAQ:NVCN) This Quarter

Wall Street analysts expect Neovasc Inc (NASDAQ:NVCN) (TSE:NVC) to post earnings per share of ($0.89) for the current quarter, according to Zacks. Two analysts have issued estimates for Neovasc’s earnings, with the highest EPS estimate coming in at ($0.63) and the lowest estimate coming in at ($1.14). Neovasc posted earnings of ($1.50) per share in the same quarter last year, which suggests a positive year over year growth rate of 40.7%. The firm is expected to announce its next earnings report on Thursday, March 19th.

According to Zacks, analysts expect that Neovasc will report full-year earnings of ($3.87) per share for the current financial year, with EPS estimates ranging from ($4.39) to ($3.35). For the next financial year, analysts expect that the company will post earnings of ($2.45) per share, with EPS estimates ranging from ($3.54) to ($1.36). Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow Neovasc.

A number of equities analysts have weighed in on NVCN shares. HC Wainwright set a $9.00 price target on shares of Neovasc and gave the stock a “buy” rating in a research note on Monday, November 4th. Zacks Investment Research downgraded shares of Neovasc from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

Shares of NASDAQ NVCN opened at $3.20 on Tuesday. Neovasc has a 1 year low of $2.34 and a 1 year high of $19.90. The firm’s 50 day moving average price is $3.65 and its 200 day moving average price is $2.46. The firm has a market cap of $24.69 million, a P/E ratio of -0.12 and a beta of 1.55.

A number of large investors have recently bought and sold shares of NVCN. Bank of Montreal Can raised its stake in Neovasc by 72.7% during the second quarter. Bank of Montreal Can now owns 51,807 shares of the medical equipment provider’s stock worth $250,000 after purchasing an additional 21,807 shares during the period. Citadel Advisors LLC purchased a new position in Neovasc during the second quarter worth approximately $36,000. Finally, Magnetar Financial LLC raised its stake in Neovasc by 325.3% during the second quarter. Magnetar Financial LLC now owns 4,809,269 shares of the medical equipment provider’s stock worth $2,322,000 after purchasing an additional 3,678,404 shares during the period.

About Neovasc

Neovasc Inc, a specialty medical device company, develops, manufactures, and markets cardiovascular devices worldwide. Its products include the Tiara technology for the transcatheter treatment of mitral valve disease; and the Neovasc Reducer for the treatment of refractory angina. The company also provides Peripatch tissue products.

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Earnings History and Estimates for Neovasc (NASDAQ:NVCN)

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