NuVasive (NUVA) Rating Lowered to Strong Sell at BidaskClub

NuVasive (NASDAQ:NUVA) was downgraded by equities research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued on Thursday.

Several other brokerages have also recently issued reports on NUVA. Needham & Company LLC upgraded shares of NuVasive from an “underperform” rating to a “buy” rating and set a $71.00 target price for the company in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. BMO Capital Markets reiterated a “buy” rating and issued a $70.00 price target on shares of NuVasive in a research report on Thursday, December 14th. BTIG Research set a $74.00 price target on shares of NuVasive and gave the company a “buy” rating in a research report on Wednesday, December 13th. Finally, Cowen reiterated an “outperform” rating and issued a $83.00 price target on shares of NuVasive in a research report on Monday, September 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $72.33.

Shares of NuVasive (NUVA) traded up $0.84 during trading on Thursday, hitting $53.33. 1,564,831 shares of the stock traded hands, compared to its average volume of 847,506. NuVasive has a fifty-two week low of $49.25 and a fifty-two 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 $2,718.12, a PE ratio of 44.82, a price-to-earnings-growth ratio of 1.42 and a beta of 0.77.

NuVasive (NASDAQ:NUVA) last issued its earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, beating 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 business had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $255.70 million. During the same quarter in the prior year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. analysts expect that NuVasive will post 1.91 earnings per share for the current year.

NuVasive announced that its board has approved a stock repurchase plan on Tuesday, October 24th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the medical device company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in NuVasive by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after buying an additional 53,769 shares during the last quarter. Icon Advisers Inc. Co. purchased a new position in NuVasive during the 3rd quarter worth $360,000. Dynamic Technology Lab Private Ltd purchased a new position in NuVasive during the 2nd quarter worth $501,000. Sector Gamma AS purchased a new position in NuVasive during the 3rd quarter worth $10,149,000. Finally, Public Employees Retirement System of Ohio raised its position in NuVasive by 68.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock worth $8,874,000 after buying an additional 46,805 shares during the last quarter.

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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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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