Insider Selling: Keith Valentine Sells 5,000 Shares of NuVasive Stock (NUVA)
NuVasive (NASDAQ:NUVA) COO Keith Valentine unloaded 5,000 shares of NuVasive stock on the open market in a transaction dated Friday, June 20th. The shares were sold at an average price of $35.00, for a total transaction of $175,000.00. Following the completion of the transaction, the chief operating officer now directly owns 84,785 shares of the company’s stock, valued at approximately $2,967,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
NuVasive (NASDAQ:NUVA) traded down 1.23% on Tuesday, hitting $34.865. The stock had a trading volume of 361,487 shares. NuVasive has a 1-year low of $22.44 and a 1-year high of $39.89. The stock has a 50-day moving average of $33.7 and a 200-day moving average of $35.0. The company’s market cap is $1.625 billion.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.29 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.26 earnings per share. NuVasive’s revenue was up 11.3% compared to the same quarter last year. On average, analysts predict that NuVasive will post $1.09 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC downgraded shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st. They now have a $40.00 price target on the stock. Separately, 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. Finally, 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. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. NuVasive currently has an average rating of “Hold” and an average price target of $39.26.
NuVasive, Inc is a medical device company, that focuses on developing minimally disruptive surgical products and procedures for the spine.
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