NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “sell” rating reissued by Needham & Company LLC in a research note issued on Wednesday.

The analysts wrote, “NUVA’s 3Q17 revenue missed, although EPS beat consensus. More importantly, management lowered its 2017 guidance. Reported revenue growth slowed to 3% in 3Q17 from 5% in 2Q17 as the US spine market slowed and NUVA’s biologics continued its decline. Revenue growth was ~6% adjusting for the unexpected impact of the hurricanes (~$5M) and the expected impact of one less selling day (~$3M). NUVA’s operating margin beat consensus and increased 150 bps Y/Y. Management’s updated 2017 guidance implies flat Y/Y revenue in 4Q17. Even if we assume that guidance for no growth in 4Q17 is conservative, it makes NUVA’s mid- single digit revenue growth target for 2018 look challenging.””

A number of other equities research analysts also recently weighed in on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $75.00 price objective on shares of NuVasive in a research report on Tuesday, October 10th. Barclays PLC lowered their price objective on shares of NuVasive from $80.00 to $65.00 and set an “overweight” rating for the company in a research report on Thursday, October 19th. Morgan Stanley reaffirmed an “equal weight” rating and set a $88.00 price objective (up previously from $84.00) on shares of NuVasive in a research report on Tuesday, July 25th. BTIG Research reaffirmed a “buy” rating and set a $74.00 price objective (down previously from $82.00) on shares of NuVasive in a research report on Wednesday, October 4th. Finally, TheStreet downgraded shares of NuVasive from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $73.87.

NuVasive (NASDAQ:NUVA) opened at 54.59 on Wednesday. The firm has a 50-day moving average of $55.77 and a 200 day moving average of $68.32. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68. The firm has a market cap of $2.77 billion, a P/E ratio of 85.97 and a beta of 1.03.

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

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In other news, CEO Gregory T. Lucier bought 5,000 shares of NuVasive stock in a transaction on Thursday, August 17th. The stock was purchased at an average cost of $66.22 per share, with a total value of $331,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Gregory T. Lucier bought 2,000 shares of NuVasive stock in a transaction on Tuesday, August 29th. The shares were 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. Insiders have acquired a total of 14,850 shares of company stock valued at $955,598 over the last three months. 1.20% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of NUVA. FNY Partners Fund LP acquired a new stake in shares of NuVasive in the 1st quarter worth approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock worth $146,000 after acquiring an additional 158 shares during the period. Howard Hughes Medical Institute lifted its stake in shares of NuVasive by 82.8% in the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock worth $159,000 after acquiring an additional 936 shares during the period. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of NuVasive in the 2nd quarter worth approximately $201,000. Finally, Shelton Capital Management acquired a new stake in shares of NuVasive in the 2nd quarter worth approximately $221,000.

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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