Zacks Investment Research downgraded shares of Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) from a hold rating to a sell rating in a report published on Thursday.
According to Zacks, “Neovasc Inc. is a specialty medical device company. It develops, manufactures and markets products for the cardiovascular marketplace. The Company’s products include the Tiara (TM) mitral valve prosthesis in development for the transcatheter treatment of mitral valve disease, the Neovasc Reducer (TM) for the treatment of refractory angina and a line of advanced biological tissue products that are used as key components in third-party medical products, including transcatheter heart valves. Neovasc Inc. is headquartered in Richmond, Canada. “
Several other equities research analysts have also weighed in on NVCN. ValuEngine lowered Neovasc Inc (US) from a sell rating to a strong sell rating in a research report on Sunday, December 31st. Canaccord Genuity restated a buy rating and set a $1.05 price target on shares of Neovasc Inc (US) in a research report on Friday, January 19th. Finally, Leerink Swann dropped their target price on Neovasc Inc (US) from $5.00 to $2.00 and set an outperform rating on the stock in a report on Thursday, March 29th.
An institutional investor recently raised its position in Neovasc Inc (US) stock. Gagnon Advisors LLC grew its stake in Neovasc Inc (US) (NASDAQ:NVCN) (TSE:NVC) by 50.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,829,482 shares of the medical equipment provider’s stock after acquiring an additional 610,376 shares during the quarter. Neovasc Inc (US) accounts for 0.8% of Gagnon Advisors LLC’s portfolio, making the stock its 28th biggest holding. Gagnon Advisors LLC owned about 2.32% of Neovasc Inc (US) worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission. 41.47% of the stock is owned by institutional investors.
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Neovasc Inc (US) 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.
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