Robert W. Baird Analysts Give NuVasive, Inc. (NUVA) a $60.00 Price Target
NuVasive, Inc. (NASDAQ:NUVA) received a $60.00 target price from investment analysts at Robert W. Baird in a note issued to investors on Thursday. The brokerage currently has a “hold” rating on the medical device company’s stock. Robert W. Baird’s target price would suggest a potential upside of 18.62% from the company’s previous close.
Several other equities analysts have also recently weighed in on the company. Needham & Company LLC cut NuVasive from a “hold” rating to an “underperform” rating in a report on Monday, August 28th. BTIG Research initiated coverage on NuVasive in a report on Thursday, September 7th. They issued a “buy” rating and a $82.00 price objective for the company. Cowen and Company reaffirmed an “outperform” rating and issued a $83.00 price objective on shares of NuVasive in a report on Monday, September 18th. BidaskClub raised NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research cut NuVasive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $76.62.
NuVasive (NASDAQ NUVA) traded down 0.36% on Thursday, reaching $50.40. The company’s stock had a trading volume of 1,305,595 shares. NuVasive has a 12 month low of $49.25 and a 12 month high of $81.68. The company has a 50-day moving average price of $57.81 and a 200 day moving average price of $69.71. The company has a market cap of $2.56 billion, a P/E ratio of 79.37 and a beta of 1.03.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data 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 during 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 quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS. On average, equities research analysts anticipate that NuVasive will post $1.99 EPS for the current fiscal year.
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In other NuVasive news, Director Lesley H. Howe sold 3,970 shares of the company’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $64.64, for a total value of $256,620.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory T. Lucier bought 2,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was purchased at an average cost of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 14,850 shares of company stock valued at $955,598. Insiders own 1.20% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its holdings in NuVasive by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after purchasing an additional 53,769 shares in the last quarter. State Street Corp increased its holdings in NuVasive by 4.2% in the 2nd quarter. State Street Corp now owns 1,710,341 shares of the medical device company’s stock worth $131,562,000 after purchasing an additional 68,344 shares in the last quarter. Voya Investment Management LLC increased its holdings in NuVasive by 43.7% in the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after purchasing an additional 517,115 shares in the last quarter. Koch Industries Inc. increased its holdings in NuVasive by 26,406.7% in the 2nd quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after purchasing an additional 978,631 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in NuVasive by 2.6% in the 2nd quarter. Northern Trust Corp now owns 837,154 shares of the medical device company’s stock worth $64,393,000 after purchasing an additional 21,340 shares in the last quarter.
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.
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