NuVasive Inc. (NASDAQ:NUVA) hit a new 52-week high during trading on Wednesday . The company traded as high as $69.00 and last traded at $66.88, with a volume of 533,544 shares changing hands. The stock had previously closed at $66.89.

A number of brokerages have commented on NUVA. JPMorgan Chase & Co. raised shares of NuVasive from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $55.00 to $74.00 in a research report on Wednesday, July 13th. Zacks Investment Research cut shares of NuVasive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 27th. Jefferies Group restated a “buy” rating on shares of NuVasive in a report on Wednesday, August 3rd. Morgan Stanley restated a “hold” rating and issued a $57.00 target price on shares of NuVasive in a report on Tuesday, June 7th. Finally, Brean Capital upped their target price on shares of NuVasive from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $65.31.

The stock has a market capitalization of $3.35 billion, a P/E ratio of 69.29 and a beta of 0.86. The company has a 50 day moving average of $64.41 and a 200-day moving average of $56.77.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/21/nuvasive-inc-nuva-sets-new-12-month-high-at-69-00.html

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.04. NuVasive had a net margin of 5.28% and a return on equity of 10.57%. The firm earned $236.50 million during the quarter, compared to analyst estimates of $232.86 million. During the same quarter in the previous year, the firm earned $0.31 earnings per share. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts expect that NuVasive Inc. will post $1.65 earnings per share for the current fiscal year.

In other NuVasive news, EVP Jason Hannon sold 2,625 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $64.80, for a total transaction of $170,100.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lesley H. Howe sold 3,602 shares of the business’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $62.44, for a total transaction of $224,908.88. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in NuVasive by 11.9% in the second quarter. BNP Paribas Arbitrage SA now owns 45,084 shares of the medical device company’s stock valued at $2,692,000 after buying an additional 4,782 shares during the last quarter. State Street Corp raised its stake in NuVasive by 1.9% in the first quarter. State Street Corp now owns 1,079,736 shares of the medical device company’s stock valued at $52,522,000 after buying an additional 20,644 shares during the last quarter. Aperio Group LLC raised its stake in NuVasive by 11.1% in the first quarter. Aperio Group LLC now owns 7,541 shares of the medical device company’s stock valued at $367,000 after buying an additional 753 shares during the last quarter. Ramsey Quantitative Systems acquired a new stake in NuVasive during the first quarter valued at $570,000. Finally, Kennedy Capital Management Inc. increased its position in shares of NuVasive by 2.6% in the first quarter. Kennedy Capital Management Inc. now owns 34,610 shares of the medical device company’s stock valued at $1,684,000 after buying an additional 891 shares during the period.

NuVasive Company Profile

Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.

5 Day Chart for NASDAQ:NUVA

Receive News & Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.