NuVasive (NASDAQ:NUVA) was downgraded by equities researchers at Needham & Company LLC from a “buy” rating to a “hold” rating in a report issued on Friday, The Fly reports.
NUVA has been the topic of a number of other reports. Credit Suisse Group started coverage on NuVasive in a report on Monday, December 17th. They set an “outperform” rating and a $66.00 price target on the stock. ValuEngine cut NuVasive from a “buy” rating to a “hold” rating in a report on Friday, December 7th. UBS Group reduced their target price on NuVasive from $54.00 to $42.00 and set a “sell” rating on the stock in a report on Tuesday, January 8th. BMO Capital Markets reduced their target price on NuVasive from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Wednesday, October 31st. Finally, Morgan Stanley reduced their target price on NuVasive from $77.00 to $73.00 and set a “hold” rating on the stock in a report on Wednesday, October 31st. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $64.47.
NASDAQ:NUVA opened at $50.52 on Friday. The company has a current ratio of 3.45, a quick ratio of 1.83 and a debt-to-equity ratio of 0.74. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 26.45, a price-to-earnings-growth ratio of 1.34 and a beta of 1.12. NuVasive has a 52 week low of $43.51 and a 52 week high of $72.41.
In related news, insider Matthew Link sold 2,582 shares of NuVasive stock in a transaction dated Monday, November 19th. The stock was sold at an average price of $62.02, for a total value of $160,135.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 8,671 shares of company stock worth $538,741 over the last ninety days. Insiders own 0.95% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund grew its position in NuVasive by 2.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 20,591 shares of the medical device company’s stock worth $1,020,000 after acquiring an additional 439 shares in the last quarter. Jennison Associates LLC grew its position in NuVasive by 1.8% in the fourth quarter. Jennison Associates LLC now owns 227,230 shares of the medical device company’s stock worth $11,262,000 after acquiring an additional 3,991 shares in the last quarter. Enlightenment Research LLC purchased a new position in NuVasive in the fourth quarter worth about $25,000. Rothschild & Co. Asset Management US Inc. grew its position in NuVasive by 2.1% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 518,863 shares of the medical device company’s stock worth $25,715,000 after acquiring an additional 10,470 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in NuVasive in the fourth quarter worth about $7,573,000.
NuVasive Company Profile
NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.
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