NuVasive, Inc. (NASDAQ:NUVA) Stock Rating Reaffirmed by Royal Bank Of Canada
NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “buy” rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Thursday. They currently have a $85.00 price objective on the medical device company’s stock. Royal Bank Of Canada’s target price would indicate a potential upside of 4.80% from the stock’s current price.
Other analysts have also recently issued research reports about the company. BMO Capital Markets reiterated a “buy” rating and set a $82.00 target price on shares of NuVasive in a report on Tuesday, April 11th. Barclays PLC increased their target price on NuVasive from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, April 24th. Canaccord Genuity reiterated a “buy” rating and set a $84.00 target price (up from $82.00) on shares of NuVasive in a research note on Wednesday, April 26th. Zacks Investment Research upgraded NuVasive from a “sell” rating to a “hold” rating in a research note on Thursday, April 27th. Finally, TheStreet upgraded NuVasive from a “c+” rating to a “b” rating in a research note on Wednesday, May 3rd. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. NuVasive presently has a consensus rating of “Buy” and a consensus target price of $81.00.
Shares of NuVasive (NASDAQ:NUVA) traded up 0.75% during midday trading on Thursday, hitting $81.11. 519,376 shares of the stock were exchanged. The firm has a 50-day moving average price of $77.53 and a 200 day moving average price of $73.98. The firm has a market cap of $4.11 billion, a PE ratio of 85.11 and a beta of 1.08. NuVasive has a 12-month low of $56.70 and a 12-month high of $81.18.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, April 25th. The medical device company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.01. NuVasive had a net margin of 5.35% and a return on equity of 12.63%. The company had revenue of $249.86 million during the quarter, compared to the consensus estimate of $250.52 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 16.2% compared to the same quarter last year. Analysts predict that NuVasive will post $2.01 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. Profit Investment Management LLC raised its position in NuVasive by 28.3% in the first quarter. Profit Investment Management LLC now owns 44,738 shares of the medical device company’s stock worth $3,341,000 after buying an additional 9,871 shares during the period. Sawgrass Asset Management LLC bought a new position in NuVasive during the first quarter worth $745,000. Glen Harbor Capital Management LLC raised its position in 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 during the period. First Citizens Bank & Trust Co. bought a new position in NuVasive during the first quarter worth $246,000. Finally, Profund Advisors LLC raised its position in NuVasive by 12.1% in the first quarter. Profund Advisors LLC now owns 9,965 shares of the medical device company’s stock worth $744,000 after buying an additional 1,077 shares during the period.
NuVasive Company Profile
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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