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.
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.
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