NuVasive, Inc. (NASDAQ:NUVA) has been given a consensus recommendation of “Buy” by the nineteen brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $72.43.

A number of analysts have issued reports on the stock. BTIG Research set a $74.00 price target on shares of NuVasive and gave the stock a “buy” rating in a research note on Wednesday. Needham & Company LLC reiterated a “sell” rating on shares of NuVasive in a research note on Friday, October 6th. Cowen reiterated an “outperform” rating and set a $83.00 price target on shares of NuVasive in a research note on Monday, September 18th. Royal Bank of Canada reiterated a “buy” rating and set a $75.00 price target on shares of NuVasive in a research note on Tuesday, October 10th. Finally, J P Morgan Chase & Co set a $78.00 price target on shares of NuVasive and gave the stock a “buy” rating in a research note on Wednesday, October 25th.

Several hedge funds have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. increased its stake in shares of NuVasive by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,868 shares of the medical device company’s stock worth $1,144,000 after buying an additional 39 shares during the period. Teacher Retirement System of Texas increased its stake in shares of NuVasive by 1.0% during the second quarter. Teacher Retirement System of Texas now owns 4,040 shares of the medical device company’s stock worth $311,000 after buying an additional 40 shares during the period. World Asset Management Inc increased its stake in shares of NuVasive by 2.7% during the second quarter. World Asset Management Inc now owns 3,201 shares of the medical device company’s stock worth $246,000 after buying an additional 84 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of NuVasive by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock worth $146,000 after buying an additional 158 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its stake in shares of NuVasive by 4.9% during the second quarter. Campbell Newman Asset Management Inc. now owns 3,628 shares of the medical device company’s stock worth $279,000 after buying an additional 169 shares during the period.

Shares of NuVasive (NUVA) traded up $0.42 on Thursday, reaching $59.58. 531,786 shares of the company traded hands, compared to its average volume of 843,736. The stock has a market cap of $3,020.00, a price-to-earnings ratio of 31.05, a P/E/G ratio of 2.09 and a beta of 0.77. NuVasive has a 12-month low of $49.25 and a 12-month 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.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The company had revenue of $247.40 million for the quarter, compared to analyst estimates of $255.70 million. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. research analysts anticipate that NuVasive will post 1.91 earnings per share for the current year.

NuVasive announced that its board has authorized a share buyback program on Tuesday, October 24th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the medical device company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

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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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