NuVasive, Inc. (NUVA) Receives “Buy” Rating from BTIG Research
NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “buy” rating restated by equities research analysts at BTIG Research in a note issued to investors on Wednesday. They currently have a $74.00 price target on the medical device company’s stock, down from their previous price target of $82.00. BTIG Research’s price target suggests a potential upside of 32.78% from the company’s previous close.
Several other equities analysts have also issued reports on the stock. Needham & Company LLC lowered shares of NuVasive from a “hold” rating to an “underperform” rating in a report on Monday, August 28th. Cowen and Company reaffirmed an “outperform” rating and issued a $83.00 price target on shares of NuVasive in a report on Monday, September 18th. BidaskClub raised shares of NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Zacks Investment Research lowered shares of NuVasive from a “hold” rating to a “sell” rating in a report on Tuesday, June 27th. 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 report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $79.31.
NuVasive (NASDAQ:NUVA) traded up 2.37% during mid-day trading on Wednesday, hitting $55.73. The stock had a trading volume of 918,684 shares. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 87.76 and a beta of 1.03. NuVasive has a 12 month low of $52.85 and a 12 month high of $81.68. The firm’s 50-day moving average is $59.73 and its 200 day moving average is $70.55.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million for the quarter, compared to analyst estimates of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. Equities analysts anticipate that NuVasive will post $2.00 EPS for the current fiscal year.
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In related news, EVP Peter Michael Leddy bought 7,850 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $63.88 per share, with a total value of $501,458.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Lesley H. Howe sold 3,970 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was 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 hedge funds and other institutional investors have recently made changes to their positions in the stock. Navellier & Associates Inc grew its stake 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 in the last quarter. Broadfin Capital LLC purchased a new stake in NuVasive during the 2nd quarter valued at about $4,300,000. Dynamic Technology Lab Private Ltd purchased a new stake in NuVasive during the 2nd quarter valued at about $501,000. Public Employees Retirement System of Ohio grew its stake 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 in the last quarter. Finally, Disciplined Growth Investors Inc. MN grew its stake 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 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.
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