NuVasive, Inc. (NUVA) Receives New Coverage from Analysts at BTIG Research
Research analysts at BTIG Research initiated coverage on shares of NuVasive, Inc. (NASDAQ:NUVA) in a research note issued to investors on Thursday, Marketbeat reports. The firm set a “buy” rating and a $82.00 price target on the medical device company’s stock. BTIG Research’s target price would suggest a potential upside of 33.72% from the company’s previous close.
Several other equities analysts also recently weighed in on the company. Needham & Company LLC downgraded NuVasive from a “hold” rating to an “underperform” rating in a research report on Monday, August 28th. Royal Bank Of Canada reissued a “buy” rating and set a $85.00 target price on shares of NuVasive in a research report on Monday, August 21st. Piper Jaffray Companies reissued an “overweight” rating and set a $90.00 target price on shares of NuVasive in a research report on Wednesday, August 9th. Barclays PLC reissued a “buy” rating and set a $80.00 target price on shares of NuVasive in a research report on Wednesday, August 2nd. Finally, Gabelli reissued a “buy” rating on shares of NuVasive in a research report on Monday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $81.25.
Shares of NuVasive (NASDAQ:NUVA) traded down 0.85% during midday trading on Thursday, hitting $60.80. 394,950 shares of the company’s stock traded hands. The company has a 50 day moving average price of $67.26 and a 200 day moving average price of $73.04. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of 95.75 and a beta of 1.08. NuVasive has a 1-year low of $56.70 and a 1-year high of $81.68.
NuVasive (NASDAQ:NUVA) last released its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The firm had revenue of $260.60 million for the quarter, compared to the consensus estimate of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. Equities analysts anticipate that NuVasive will post $2.00 earnings per share for the current year.
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In other NuVasive news, CEO Gregory T. Lucier acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $61.52 per share, for a total transaction of $123,040.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Peter Michael Leddy acquired 7,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average price of $63.88 per share, with a total value of $501,458.00. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 14,850 shares of company stock valued at $955,598. 1.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Navellier & Associates Inc boosted its holdings in NuVasive by 5.2% during the 2nd quarter. Navellier & Associates Inc now owns 74,387 shares of the medical device company’s stock valued at $5,722,000 after acquiring an additional 3,696 shares during the period. Broadfin Capital LLC purchased a new position in NuVasive during the 2nd quarter valued at $4,300,000. Dynamic Technology Lab Private Ltd purchased a new position in NuVasive during the 2nd quarter valued at $501,000. Public Employees Retirement System of Ohio boosted its holdings in NuVasive by 68.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock valued at $8,874,000 after acquiring an additional 46,805 shares during the period. Finally, Disciplined Growth Investors Inc. MN boosted its holdings in NuVasive by 4.3% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 70,657 shares of the medical device company’s stock valued at $5,435,000 after acquiring an additional 2,922 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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