NuVasive (NASDAQ:NUVA) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a report issued on Tuesday, Marketbeat.com reports. They currently have a $60.00 target price on the medical device company’s stock. Jefferies Financial Group’s price target points to a potential upside of 7.39% from the company’s current price.
NUVA has been the subject of several other research reports. Needham & Company LLC lowered NuVasive from a “buy” rating to a “hold” rating in a research report on Friday. Royal Bank of Canada boosted their target price on NuVasive to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, November 27th. Zacks Investment Research upgraded NuVasive from a “sell” rating to a “hold” rating in a research report on Wednesday, January 2nd. Canaccord Genuity dropped their target price on NuVasive from $80.00 to $75.00 and set a “buy” rating for the company in a research report on Wednesday, October 31st. Finally, Cantor Fitzgerald restated a “hold” rating and set a $50.00 target price on shares of NuVasive in a research report on Monday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $63.56.
Shares of NASDAQ:NUVA traded down $0.25 during trading hours on Tuesday, hitting $55.87. 7,351 shares of the company’s stock traded hands, compared to its average volume of 823,993. NuVasive has a 1 year low of $43.51 and a 1 year high of $72.41. The firm has a market capitalization of $2.55 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 1.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.45 and a quick ratio of 1.83.
In other news, insider Matthew Link sold 1,200 shares of NuVasive stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $62.01, for a total transaction of $74,412.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders have sold 8,671 shares of company stock valued at $538,741 in the last ninety days. Insiders own 0.95% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Enlightenment Research LLC bought a new stake in shares of NuVasive during the fourth quarter valued at approximately $25,000. Royce & Associates LP bought a new stake in shares of NuVasive during the fourth quarter valued at approximately $25,000. Contravisory Investment Management Inc. bought a new stake in shares of NuVasive during the fourth quarter valued at approximately $114,000. Ffcm LLC raised its stake in shares of NuVasive by 191.2% during the fourth quarter. Ffcm LLC now owns 2,391 shares of the medical device company’s stock valued at $118,000 after acquiring an additional 1,570 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in shares of NuVasive by 163.8% during the third quarter. Tower Research Capital LLC TRC now owns 2,469 shares of the medical device company’s stock valued at $175,000 after acquiring an additional 1,533 shares in the last quarter.
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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