NVTR (Update)

Nuvectra Corp

Healthcare


Presented:11/20/2017
Price:$8.61
Cap:$0.09B
Current Price:$0.02
Cap:$0.00B

Presented

Date11/20/2017
Price$8.61
Market Cap$0.09B
Ent Value$0.13B
P/E RatioN/A
Book Value$5.22
Div Yield0%
Shares O/S10.70M
Ave Daily Vol48,276
Short Int1.32%

Current

Price$0.02
Market Cap$0.00B
Nuvectra Corp. engages in the development and commercialization of neurostimulation technology platform for treatment of various disorders through stimulation of tissues associated with the nervous systems. It also supports neurological indications such as sacral nerve stimulation, and deep brain stimulation. The company's technology, Algovita Spinal Cord Stimulation System, treats chronic pain of the trunk and limbs. Nuvectra was founded on November 14, 2008 and is headquartered in Plano, TX.

Please note, this is an update to Nuvectra Corp (NVTR) – Long, which was originally presented on 9/20/2016 ($6.97).

Publicly traded companies mentioned herein: Boston Scientific Corporation (BSX), Medtronic plc (MDT), Nevro Corp. (NVRO), Nuvectra Corp (NVTR)

Highlights

The presenter remains long shares of Nuvectra (NVTR) at $8.60, and continues to monitor the growth of its Algovita Spinal Cord Stimulation (SCS) System. While its progress has been somewhat slower than anticipated, the push to find and promote non-opioid pain management solutions in the US has grown stronger. Back pain remains one of the biggest issues in this regard; and SCS is one of the fastest growing areas within the medical device space, “Growing low double digits, or high singles, at worst”, he added. NVTR’s ~1% share of the ~$1.5+ billion SCS market should continue to grow, and in the meantime the company continues to work on US and European approval of i) Algovita full body MRI compatibility, and ii) its Virtis Sacral Neuromodulation System, which is for chronic urinary retention and overactive bladder. In the meantime, Nevro’s rich valuation (7x 2017 sales estimates) and salesforce turnover has led the presenter to establish a short position in its stock, as a pair to his long position in NVTR.

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