Shares of Neovasc Inc. (NASDAQ:NVCN) (TSE:NVC) shot up 13.7% on Tuesday . The stock traded as high as $1.49 and last traded at $1.49. 563,211 shares were traded during trading, an increase of 273% from the average session volume of 151,160 shares. The stock had previously closed at $1.31.

Separately, Zacks Investment Research downgraded Neovasc from a “buy” rating to a “hold” rating in a research report on Wednesday, October 18th.

The company has a market cap of $117.58, a PE ratio of 6.24 and a beta of 1.77.

Neovasc (NASDAQ:NVCN) (TSE:NVC) last posted its quarterly earnings data on Thursday, August 10th. The medical equipment provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.02). Neovasc had a negative net margin of 68.34% and a negative return on equity of 58.08%. The firm had revenue of $1.31 million for the quarter, compared to analysts’ expectations of $1.40 million. equities research analysts anticipate that Neovasc Inc. will post -0.26 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Gagnon Advisors LLC lifted its position in shares of Neovasc by 0.5% in the second quarter. Gagnon Advisors LLC now owns 1,212,850 shares of the medical equipment provider’s stock worth $1,674,000 after purchasing an additional 5,671 shares in the last quarter. Virtu KCG Holdings LLC purchased a new stake in shares of Neovasc in the second quarter worth approximately $149,000. Gagnon Securities LLC lifted its position in shares of Neovasc by 5.2% in the second quarter. Gagnon Securities LLC now owns 3,023,087 shares of the medical equipment provider’s stock worth $4,172,000 after purchasing an additional 149,642 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of Neovasc by 9.1% in the second quarter. Capital World Investors now owns 6,294,667 shares of the medical equipment provider’s stock worth $8,737,000 after purchasing an additional 522,864 shares in the last quarter. 19.53% of the stock is owned by institutional investors and hedge funds.

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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.

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