NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a research note issued on Tuesday. They presently have a $88.00 price objective on the medical device company’s stock, up from their previous price objective of $84.00. Morgan Stanley’s price objective suggests a potential upside of 8.59% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of NuVasive in a report on Friday, June 30th. Cowen and Company reaffirmed an “outperform” rating and issued a $85.00 price target on shares of NuVasive in a report on Monday, May 15th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 price target on shares of NuVasive in a report on Thursday, July 20th. TheStreet raised shares of NuVasive from a “c+” rating to a “b” rating in a report on Wednesday, May 3rd. Finally, Zacks Investment Research raised shares of NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $81.58.

Shares of NuVasive (NASDAQ NUVA) traded up 0.07% during midday trading on Tuesday, reaching $81.04. 764,878 shares of the company’s stock were exchanged. NuVasive has a one year low of $56.70 and a one year high of $81.68. The firm has a market cap of $4.11 billion, a PE ratio of 85.04 and a beta of 1.08. The stock’s 50-day moving average is $77.89 and its 200 day moving average is $74.29.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, April 25th. The medical device company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.01. The business had revenue of $249.86 million during the quarter, compared to analysts’ expectations of $250.52 million. NuVasive had a net margin of 5.35% and a return on equity of 12.63%. The business’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. Analysts anticipate that NuVasive will post $2.01 EPS for the current year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Keybank National Association OH boosted its position in NuVasive by 0.7% in the first quarter. Keybank National Association OH now owns 12,667 shares of the medical device company’s stock worth $946,000 after buying an additional 86 shares during the last quarter. Columbus Circle Investors boosted its position in NuVasive by 7.9% in the first quarter. Columbus Circle Investors now owns 745,483 shares of the medical device company’s stock worth $55,673,000 after buying an additional 54,291 shares during the last quarter. Stephens Investment Management Group LLC boosted its position in NuVasive by 7.5% in the first quarter. Stephens Investment Management Group LLC now owns 685,623 shares of the medical device company’s stock worth $51,202,000 after buying an additional 47,707 shares during the last quarter. OppenheimerFunds Inc. boosted its position in NuVasive by 55.8% in the first quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock worth $90,438,000 after buying an additional 433,506 shares during the last quarter. Finally, Pacer Advisors Inc. boosted its position in NuVasive by 22.0% in the first quarter. Pacer Advisors Inc. now owns 5,244 shares of the medical device company’s stock worth $392,000 after buying an additional 945 shares during the last quarter.

About NuVasive

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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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