NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “buy” rating restated by equities researchers at Royal Bank Of Canada in a research note issued on Friday. They presently have a $75.00 target price on the medical device company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 22.15% from the stock’s current price.

Several other equities research analysts also recently commented on the stock. BTIG Research began coverage on shares of NuVasive in a research note on Thursday. They set a “buy” rating and a $82.00 price objective for the company. Needham & Company LLC downgraded shares of NuVasive from a “hold” rating to an “underperform” rating in a research note on Monday, August 28th. Piper Jaffray Companies reiterated an “overweight” rating and set a $90.00 price objective on shares of NuVasive in a research note on Wednesday, August 9th. Barclays PLC reiterated a “buy” rating and set a $80.00 price objective on shares of NuVasive in a research note on Wednesday, August 2nd. Finally, Gabelli reiterated a “buy” rating on shares of NuVasive in a research note on Monday, July 31st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $80.42.

Shares of NuVasive (NASDAQ:NUVA) opened at 61.40 on Friday. The stock has a market capitalization of $3.12 billion, a price-to-earnings ratio of 96.69 and a beta of 1.08. The firm’s 50-day moving average is $66.12 and its 200-day moving average is $72.86. NuVasive has a 52 week low of $56.70 and a 52 week high of $81.68.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The business had revenue of $260.60 million during the quarter, compared to the consensus estimate of $261.95 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts forecast that NuVasive will post $2.00 earnings per share for the current fiscal year.

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In other news, EVP Peter Michael Leddy acquired 7,850 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average price of $63.88 per share, with a total value of $501,458.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lesley H. Howe sold 3,970 shares of NuVasive stock in a transaction on Friday, August 18th. The shares were sold at an average price of $64.64, for a total transaction of $256,620.80. The disclosure for this sale can be found here. Insiders acquired 14,850 shares of company stock valued at $955,598 in the last ninety days. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in NuVasive by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock valued at $320,312,000 after buying an additional 53,769 shares in the last quarter. Champlain Investment Partners LLC increased its holdings in NuVasive by 2.3% in the first quarter. Champlain Investment Partners LLC now owns 1,908,280 shares of the medical device company’s stock valued at $142,510,000 after buying an additional 42,395 shares in the last quarter. State Street Corp increased its holdings in NuVasive by 4.2% in the second quarter. State Street Corp now owns 1,710,341 shares of the medical device company’s stock valued at $131,562,000 after buying an additional 68,344 shares in the last quarter. Voya Investment Management LLC increased its holdings in NuVasive by 43.7% in the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock valued at $130,761,000 after buying an additional 517,115 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in NuVasive by 55.8% in the first quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock valued at $90,438,000 after buying an additional 433,506 shares in 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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