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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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