NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “outperform” rating restated by research analysts at Wells Fargo & Company in a note issued to investors on Wednesday, The Fly reports. They currently have a $65.00 price target on the medical device company’s stock, down from their prior price target of $81.00. Wells Fargo & Company’s price objective indicates a potential upside of 19.07% from the company’s previous close.

Other analysts have also recently issued research reports about the company. Jefferies Group LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of NuVasive in a research report on Friday, June 30th. Canaccord Genuity reaffirmed a “buy” rating and set a $75.00 price target on shares of NuVasive in a research report on Wednesday. J P Morgan Chase & Co set a $78.00 price target on NuVasive and gave the stock a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded NuVasive from a “sell” rating to a “hold” rating in a research note on Tuesday, July 4th. Finally, Robert W. Baird lowered NuVasive from an “outperform” rating to a “neutral” rating and reduced their price objective for the company from $79.00 to $72.00 in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. NuVasive presently has an average rating of “Buy” and an average price target of $73.87.

Shares of NuVasive (NUVA) opened at 54.59 on Wednesday. The stock has a market cap of $2.77 billion, a PE ratio of 85.97 and a beta of 1.03. The company’s 50-day moving average price is $55.77 and its 200-day moving average price is $68.32. NuVasive has a 52-week low of $49.25 and a 52-week high of $81.68.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $255.70 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that NuVasive will post $1.99 earnings per share for the current fiscal year.

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In other NuVasive news, EVP Peter Michael Leddy purchased 7,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average price of $63.88 per share, for a total transaction of $501,458.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Gregory T. Lucier purchased 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price 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 90 days, insiders purchased 14,850 shares of company stock valued at $955,598. 1.20% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. Koch Industries Inc. increased its stake in NuVasive by 26,406.7% during the 2nd quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after buying an additional 978,631 shares in the last quarter. Voya Investment Management LLC increased its stake in NuVasive by 43.7% during 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 buying an additional 517,115 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in NuVasive by 118.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after buying an additional 296,715 shares in the last quarter. Wellington Management Group LLP purchased a new stake in NuVasive during the 1st quarter worth approximately $20,724,000. Finally, Renaissance Technologies LLC increased its stake in NuVasive by 450.6% during the 2nd quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock worth $24,221,000 after buying an additional 257,700 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.

The Fly

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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