For background on the Nuvectra investment, please refer to my original investment case here:

Additionally, there is a very good Value Investor Club write up here:


Short Background

Nuvectra is a neuromodulation platform that was spun out of Greatbatch earlier this year. Nuvectra currently has a market cap of ~$60mm and net cash on the balance sheet of $65mm.

The investment thesis is:

  • Management is excellent and has experience in the growing neuromodulation market.
  • Nuvectra has an approved product that is growing rapidly and taking share.
  • If you believe that Nuvectra’s products will continue to grow and that the stock will ultimately get valued in-line with med tech peers, the stock will be worth multiples of its current share price.


They key takeaway from the Q3 2016 report, is the investment case