Candriam Luxembourg S.C.A. maintained its position in Neovasc Inc. (NASDAQ:NVCN) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 102,000 shares of the medical equipment provider’s stock at the end of the second quarter. Candriam Luxembourg S.C.A. owned 0.13% of Neovasc worth $141,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Iguana Healthcare Management LLC bought a new position in Neovasc during the first quarter valued at approximately $505,000. Gagnon Advisors LLC raised its position in Neovasc by 0.5% in the second quarter. Gagnon Advisors LLC now owns 1,212,850 shares of the medical equipment provider’s stock valued at $1,674,000 after buying an additional 5,671 shares during the period. Gagnon Securities LLC raised its position in Neovasc by 5.2% in the second quarter. Gagnon Securities LLC now owns 3,023,087 shares of the medical equipment provider’s stock valued at $4,172,000 after buying an additional 149,642 shares during the period. Finally, West Family Investments Inc. raised its position in Neovasc by 50.0% in the first quarter. West Family Investments Inc. now owns 3,000,010 shares of the medical equipment provider’s stock valued at $4,590,000 after buying an additional 1,000,010 shares during the period. 19.26% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Neovasc Inc. (NASDAQ NVCN) opened at 1.05 on Thursday. The stock’s market capitalization is $82.84 million. Neovasc Inc. has a 12-month low of $0.45 and a 12-month high of $3.34. The firm’s 50-day moving average price is $1.22 and its 200 day moving average price is $1.43.
Neovasc (NASDAQ:NVCN) last issued its earnings results on Thursday, August 10th. The medical equipment provider reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.02) by $0.02. Neovasc had a negative return on equity of 58.08% and a negative net margin of 68.34%. The company had revenue of $1.31 million during the quarter, compared to analyst estimates of $1.40 million. Analysts predict that Neovasc Inc. will post ($0.31) EPS for the current fiscal year.
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Separately, Zacks Investment Research lowered Neovasc from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 12th.
About Neovasc
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.
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