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Equities researchers at RBC Capital increased their price objective on shares of NuVasive (NASDAQ:NUVA) from $35.00 to $39.00 in a research report issued on Wednesday, ARN reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s target price suggests a potential upside of 16.77% from the company’s current price.

NuVasive (NASDAQ:NUVA) traded up 0.27% on Wednesday, hitting $33.40. 350,194 shares of the company’s stock traded hands. NuVasive has a 52 week low of $21.01 and a 52 week high of $39.89. The stock’s 50-day moving average is $35.94 and its 200-day moving average is $34.16. The company has a market cap of $1.534 billion and a P/E ratio of 195.94.

NuVasive (NASDAQ:NUVA) last announced its earnings results on Tuesday, April 29th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.23 by $0.06. The company had revenue of $177.50 million for the quarter, compared to the consensus estimate of $171.30 million. During the same quarter in the prior year, the company posted $0.26 earnings per share. The company’s quarterly revenue was up 11.3% on a year-over-year basis. On average, analysts predict that NuVasive will post $1.10 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of NuVasive from $34.00 to $40.00 in a research note on Tuesday, March 4th. They now have a “neutral” rating on the stock. Separately, analysts at Jefferies Group raised their price target on shares of NuVasive from $35.00 to $45.00 in a research note on Tuesday, March 4th. Finally, analysts at BMO Capital Markets raised their price target on shares of NuVasive from $30.00 to $38.00 in a research note on Tuesday, March 4th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. NuVasive presently has a consensus rating of “Buy” and an average price target of $37.63.

NuVasive, Inc is a medical device company, that focuses on developing minimally disruptive surgical products and procedures for the spine.

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