NuVasive, Inc. (NUVA) Price Target Lowered to $65.00 at Barclays PLC

NuVasive, Inc. (NASDAQ:NUVA) had its price objective cut by Barclays PLC from $80.00 to $65.00 in a report published on Thursday, October 19th. They currently have an overweight rating on the medical device company’s stock.

Several other equities research analysts have also commented on NUVA. Gabelli restated a buy rating on shares of NuVasive in a research report on Monday, July 31st. BidaskClub downgraded NuVasive from a buy rating to a hold rating in a research note on Monday, July 31st. TheStreet downgraded NuVasive from a b- rating to a c+ rating in a research note on Friday, October 13th. Needham & Company LLC reaffirmed a hold rating on shares of NuVasive in a research note on Friday, July 28th. Finally, Piper Jaffray Companies reaffirmed a buy rating and set a $90.00 target price on shares of NuVasive in a research note on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $72.67.

NuVasive (NASDAQ NUVA) traded down 0.14% on Thursday, reaching $58.43. 1,099,022 shares of the company traded hands. The stock’s 50 day moving average price is $55.58 and its 200 day moving average price is $68.08. NuVasive has a one year low of $49.25 and a one year high of $81.68. The company has a market capitalization of $2.97 billion, a PE ratio of 92.02 and a beta of 1.03.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The business had revenue of $247.40 million for the quarter, compared to analyst estimates of $255.70 million. During the same quarter in the prior year, the firm posted $0.40 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that NuVasive will post $1.92 EPS for the current fiscal year.

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NuVasive declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 24th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the medical device company to repurchase shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

In other news, CEO Gregory T. Lucier bought 5,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was bought at an average cost of $66.22 per share, for a total transaction of $331,100.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Gregory T. Lucier bought 2,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average price of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock valued at $955,598 over the last 90 days. 1.20% of the stock is currently owned by company insiders.

Institutional investors have recently made changes to their positions in the stock. FNY Partners Fund LP purchased a new position in NuVasive during the 1st quarter valued at about $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares in the last quarter. Howard Hughes Medical Institute raised its position in NuVasive by 82.8% in the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after purchasing an additional 936 shares in the last quarter. Honkamp Krueger Financial Services Inc. acquired a new stake in NuVasive in the 2nd quarter valued at about $201,000. Finally, Shelton Capital Management acquired a new stake in NuVasive in the 2nd quarter valued at about $221,000.

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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