BTIG Research Analysts Give NuVasive (NUVA) a $74.00 Price Target
NuVasive (NASDAQ:NUVA) has been assigned a $74.00 target price by equities researchers at BTIG Research in a research note issued on Wednesday. The firm presently has a “buy” rating on the medical device company’s stock. BTIG Research’s price objective indicates a potential upside of 26.09% from the stock’s current price.
Several other research firms also recently weighed in on NUVA. Needham & Company LLC restated a “sell” rating on shares of NuVasive in a research report on Wednesday, October 25th. Robert W. Baird set a $60.00 price target on shares of NuVasive and gave the stock a “hold” rating in a research report on Thursday, October 12th. BMO Capital Markets reduced their price target on shares of NuVasive from $85.00 to $69.00 and set an “outperform” rating for the company in a research report on Wednesday, October 25th. Royal Bank of Canada reduced their price target on shares of NuVasive from $75.00 to $70.00 and set an “outperform” rating for the company in a research report on Friday, November 10th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $90.00 price target on shares of NuVasive in a research report on Thursday, September 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. NuVasive presently has a consensus rating of “Buy” and an average price target of $72.36.
NuVasive (NASDAQ:NUVA) traded up $0.73 on Wednesday, hitting $58.69. 492,600 shares of the company traded hands, compared to its average volume of 846,703. NuVasive has a 52-week low of $49.25 and a 52-week high of $81.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.51 and a current ratio of 2.85. The firm has a market cap of $2,954.10, a P/E ratio of 30.67, a PEG ratio of 2.06 and a beta of 0.77.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. The firm had revenue of $247.40 million during the quarter, compared to the consensus estimate of $255.70 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. sell-side analysts expect that NuVasive will post 1.91 earnings per share for the current year.
NuVasive announced that its board has authorized a stock repurchase plan on Tuesday, October 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the medical device company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
Several institutional investors have recently bought and sold shares of the company. AXA grew its stake in shares of NuVasive by 17.7% in the 3rd quarter. AXA now owns 444,567 shares of the medical device company’s stock valued at $24,656,000 after buying an additional 66,754 shares during the period. GSA Capital Partners LLP grew its stake in shares of NuVasive by 176.5% in the 3rd quarter. GSA Capital Partners LLP now owns 9,403 shares of the medical device company’s stock valued at $521,000 after buying an additional 6,002 shares during the period. Cubist Systematic Strategies LLC grew its stake in shares of NuVasive by 238.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 22,873 shares of the medical device company’s stock valued at $1,269,000 after buying an additional 16,115 shares during the period. Zions Bancorporation purchased a new stake in shares of NuVasive in the 3rd quarter valued at approximately $160,000. Finally, Orbimed Advisors LLC grew its stake in shares of NuVasive by 236.4% in the 3rd quarter. Orbimed Advisors LLC now owns 220,700 shares of the medical device company’s stock valued at $12,240,000 after buying an additional 155,100 shares during the period.
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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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