NuVasive Rating Lowered to Hold at Needham & Company LLC (NUVA)
NuVasive (NASDAQ:NUVA) was downgraded by Needham & Company LLC from a “buy” rating to a “hold” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. They currently have a $40.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 20.81% from the stock’s previous close.
Shares of NuVasive (NASDAQ:NUVA) traded down 2.41% during mid-day trading on Wednesday, hitting $32.3135. The stock had a trading volume of 208,958 shares. NuVasive has a 52 week low of $21.01 and a 52 week high of $39.89. The stock has a 50-day moving average of $34.40 and a 200-day moving average of $34.88. The company’s market cap is $1.506 billion.
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 $1.09 earnings per share for the current fiscal year.
NUVA has been the subject of a number of other recent research reports. Analysts at Canaccord Genuity cut their price target on shares of NuVasive from $51.00 to $48.00 in a research note on Wednesday, April 30th. They now have a “buy” rating on the stock. Separately, analysts at Summer Street upgraded shares of NuVasive from a “neutral” rating to a “buy” rating in a research note on Wednesday, April 30th. They now have a $42.00 price target on the stock. Finally, analysts at RBC Capital raised their price target on shares of NuVasive from $35.00 to $39.00 in a research note on Wednesday, April 30th. They now have a “sector perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. NuVasive presently has a consensus rating of “Buy” and a consensus price target of $38.39.
NuVasive, Inc is a medical device company, that focuses on developing minimally disruptive surgical products and procedures for the spine.
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