Jefferies Group LLC Reaffirms Buy Rating for NuVasive, Inc. (NUVA)
NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “buy” rating reissued by Jefferies Group LLC in a research report issued on Tuesday. They presently have a $79.00 target price on the medical device company’s stock. Jefferies Group LLC’s target price would suggest a potential upside of 45.11% from the stock’s previous close.
NUVA has been the topic of a number of other reports. Gabelli reiterated a “buy” rating on shares of NuVasive in a research report on Monday, July 31st. Piper Jaffray Companies restated a “buy” rating and set a $90.00 price objective on shares of NuVasive in a report on Thursday, September 28th. BidaskClub cut shares of NuVasive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Needham & Company LLC restated a “hold” rating on shares of NuVasive in a report on Friday, July 28th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of NuVasive in a research note on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $79.92.
Shares of NuVasive (NASDAQ:NUVA) traded up 0.04% during midday trading on Tuesday, hitting $54.44. 2,502,838 shares of the company traded hands. The stock’s 50-day moving average is $60.08 and its 200 day moving average is $70.70. NuVasive has a 12-month low of $52.85 and a 12-month high of $81.68. The stock has a market capitalization of $2.77 billion, a P/E ratio of 85.73 and a beta of 1.04.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The firm had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 earnings per share. On average, analysts expect that NuVasive will post $2.00 earnings per share for the current year.
TRADEMARK VIOLATION WARNING: This report was originally published by American Banking News and is the sole property of of American Banking News. If you are reading this report on another domain, it was copied illegally and reposted in violation of international trademark & copyright laws. The correct version of this report can be read at https://www.americanbankingnews.com/2017/10/03/jefferies-group-llc-reaffirms-buy-rating-for-nuvasive-inc-nuva.html.
In other news, EVP Peter Michael Leddy bought 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Gregory T. Lucier bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $61.52 per share, for a total transaction of $123,040.00. The disclosure for this purchase can be found here. Insiders have bought 14,850 shares of company stock valued at $955,598 over the last ninety days. 1.20% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in the business. First Trust Advisors LP lifted its position in NuVasive by 17.7% during the 2nd quarter. First Trust Advisors LP now owns 36,597 shares of the medical device company’s stock worth $2,815,000 after buying an additional 5,510 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of NuVasive by 23.6% in the 2nd quarter. Bank of Montreal Can now owns 5,680 shares of the medical device company’s stock valued at $437,000 after acquiring an additional 1,086 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of NuVasive by 205.8% in the 1st quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock valued at $18,636,000 after acquiring an additional 167,950 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of NuVasive by 8.9% in the 2nd quarter. Neuberger Berman Group LLC now owns 439,121 shares of the medical device company’s stock valued at $33,777,000 after acquiring an additional 35,866 shares in the last quarter. Finally, Geneva Advisors LLC grew its holdings in shares of NuVasive by 3.3% in the 2nd quarter. Geneva Advisors LLC now owns 17,369 shares of the medical device company’s stock valued at $1,336,000 after acquiring an additional 555 shares in the last quarter.
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.
Receive News & Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.