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.

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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