NuVasive Price Target Increased to $51.00 by Analysts at Canaccord Genuity (NUVA)
Equities research analysts at Canaccord Genuity upped their target price on shares of NuVasive (NASDAQ:NUVA) from $34.00 to $51.00 in a research note issued to investors on Wednesday, American Banking and Market News reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity’s target price suggests a potential upside of 38.14% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at Leerink Swann upgraded shares of NuVasive from a “market perform” rating to an “outperform” rating in a research note to investors on Wednesday. They now have a $45.00 price target on the stock, up previously from $33.00. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of NuVasive from a “sell” rating to a “neutral” rating in a research note to investors on Thursday, January 16th. Finally, analysts at Barclays raised their price target on shares of NuVasive from $32.00 to $35.00 in a research note to investors on Thursday, January 9th. They now have an “equal weight” rating on the stock. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $31.84.
In other NuVasive news, COO Keith Valentine sold 20,000 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $37.96, for a total value of $759,200.00. Following the sale, the chief operating officer now directly owns 44,226 shares in the company, valued at approximately $1,678,819. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of NuVasive (NASDAQ:NUVA) traded up 2.95% during mid-day trading on Wednesday, hitting $38.01. 254,626 shares of the company’s stock traded hands. NuVasive has a one year low of $16.77 and a one year high of $38.79. The stock’s 50-day moving average is $33.29 and its 200-day moving average is $28.09. The company’s market cap is $1.696 billion.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.39 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.15. The company had revenue of $169.20 million for the quarter, compared to the consensus estimate of $158.30 million. During the same quarter in the prior year, the company posted $0.23 earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. Analysts expect that NuVasive will post $1.16 EPS for the current fiscal year.
NuVasive, Inc (NASDAQ:NUVA) is a medical device company.
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