NuVasive, Inc. (NASDAQ:NUVA) Stock Rating Upgraded by BidaskClub
NuVasive, Inc. (NASDAQ:NUVA) was upgraded by investment analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Other equities research analysts have also recently issued reports about the company. TheStreet upgraded NuVasive from a “c+” rating to a “b” rating in a research note on Wednesday, May 3rd. Jefferies Group LLC restated a “buy” rating and set a $84.00 price objective on shares of NuVasive in a research note on Friday, June 30th. Royal Bank Of Canada restated a “buy” rating and set a $76.00 price objective on shares of NuVasive in a research note on Monday, May 15th. BMO Capital Markets restated a “buy” rating and set a $82.00 price objective on shares of NuVasive in a research note on Tuesday, April 11th. Finally, Canaccord Genuity restated a “buy” rating and set a $84.00 price objective (up from $82.00) on shares of NuVasive in a research note on Wednesday, April 26th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $81.00.
NuVasive (NASDAQ NUVA) traded up 2.31% during trading on Wednesday, hitting $80.51. The stock had a trading volume of 663,054 shares. NuVasive has a 52-week low of $56.70 and a 52-week high of $81.06. The stock’s 50-day moving average is $77.38 and its 200-day moving average is $73.93. The stock has a market capitalization of $4.08 billion, a PE ratio of 84.48 and a beta of 1.08.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, April 25th. The medical device company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The firm had revenue of $249.86 million during the quarter, compared to analysts’ expectations of $250.52 million. NuVasive had a return on equity of 12.63% and a net margin of 5.35%. The firm’s quarterly revenue was up 16.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.34 EPS. On average, analysts predict that NuVasive will post $2.01 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. acquired a new stake in NuVasive during the first quarter worth approximately $109,000. FNY Partners Fund LP purchased a new position in shares of NuVasive during the first quarter worth $112,000. Neuburgh Advisers LLC raised its position in shares of NuVasive by 18.3% in the first quarter. Neuburgh Advisers LLC now owns 1,552 shares of the medical device company’s stock worth $116,000 after buying an additional 240 shares in the last quarter. SpiderRock Advisors LLC purchased a new position in shares of NuVasive during the first quarter worth $124,000. Finally, Glen Harbor Capital Management LLC raised its position in shares of NuVasive by 18.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,134 shares of the medical device company’s stock worth $159,000 after buying an additional 330 shares in the last quarter.
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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