NuVasive, Inc. (NUVA) Given Average Rating of “Buy” by Analysts
Shares of NuVasive, Inc. (NASDAQ:NUVA) have received an average rating of “Buy” from the sixteen ratings firms that are covering the company, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $81.18.
Several brokerages have commented on NUVA. TheStreet raised shares of NuVasive from a “c+” rating to a “b” rating in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. BidaskClub upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Barclays PLC lifted their price target on shares of NuVasive from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, April 24th. Finally, Royal Bank Of Canada lifted their price target on shares of NuVasive from $76.00 to $85.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 6th.
Shares of NuVasive (NUVA) traded up 4.30% on Friday, hitting $66.63. The company’s stock had a trading volume of 1,695,893 shares. The stock has a 50-day moving average price of $74.06 and a 200 day moving average price of $74.04. NuVasive has a one year low of $56.70 and a one year high of $81.68. The firm has a market cap of $3.39 billion, a price-to-earnings ratio of 104.93 and a beta of 1.06.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.40 EPS. Equities research analysts predict that NuVasive will post $2.00 EPS for the current year.
In other NuVasive news, EVP Peter Michael Leddy bought 7,850 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were bought at an average cost of $63.88 per share, with a total value of $501,458.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Westside Investment Management Inc. purchased a new stake in NuVasive during the first quarter worth $109,000. FNY Partners Fund LP bought a new position in shares of NuVasive during the first quarter worth about $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 bought a new position in shares of NuVasive during the first quarter worth about $124,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in NuVasive by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after buying an additional 158 shares during the period.
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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