BMO Capital Markets Trims NuVasive, Inc. (NASDAQ:NUVA) Target Price to $69.00

NuVasive, Inc. (NASDAQ:NUVA) had its price objective dropped by equities researchers at BMO Capital Markets from $85.00 to $69.00 in a research note issued to investors on Wednesday, October 25th. The firm presently has an “outperform” rating on the medical device company’s stock. BMO Capital Markets’ price objective suggests a potential upside of 24.73% from the company’s current price.

Several other research firms have also recently issued reports on NUVA. Gabelli reissued a “buy” rating on shares of NuVasive in a research note on Monday, July 31st. BidaskClub cut NuVasive from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. J P Morgan Chase & Co set a $78.00 target price on NuVasive and gave the stock a “buy” rating in a research note on Wednesday, October 25th. TheStreet cut NuVasive from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of NuVasive in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $72.33.

NuVasive (NASDAQ:NUVA) traded down $1.41 during trading on Wednesday, hitting $55.32. The stock had a trading volume of 546,200 shares, compared to its average volume of 871,446. The company has a quick ratio of 1.51, a current ratio of 2.85 and a debt-to-equity ratio of 0.76. NuVasive has a 52-week low of $49.25 and a 52-week high of $81.68. The company has a market capitalization of $2,891.41, a price-to-earnings ratio of 30.02, a P/E/G ratio of 2.02 and a beta of 0.78.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. The business had revenue of $247.40 million for the quarter, compared to the consensus estimate of $255.70 million. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.40 earnings per share. research analysts forecast that NuVasive will post 1.91 earnings per share for the current year.

NuVasive declared that its board has approved a stock repurchase plan on Tuesday, October 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the medical device company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

COPYRIGHT VIOLATION WARNING: “BMO Capital Markets Trims NuVasive, Inc. (NASDAQ:NUVA) Target Price to $69.00” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another website, it was copied illegally and republished in violation of U.S. & international copyright and trademark law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2017/11/11/nuvasive-inc-nuva-price-target-cut-to-69-00.html.

In other news, CEO Gregory T. Lucier acquired 5,000 shares of NuVasive stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $66.22 per share, with a total value of $331,100.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Lesley H. Howe sold 3,970 shares of the stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $64.64, for a total transaction of $256,620.80. The disclosure for this sale can be found here. 1.20% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the stock. First Trust Advisors LP grew its stake in NuVasive by 17.7% in the 2nd quarter. First Trust Advisors LP now owns 36,597 shares of the medical device company’s stock worth $2,815,000 after acquiring an additional 5,510 shares in the last quarter. Bank of Montreal Can grew its stake in NuVasive by 23.6% in the 2nd quarter. Bank of Montreal Can now owns 5,680 shares of the medical device company’s stock worth $437,000 after acquiring an additional 1,086 shares in the last quarter. Vanguard Group Inc. grew its stake in NuVasive by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after acquiring an additional 53,769 shares in the last quarter. Teachers Advisors LLC grew its stake in NuVasive by 205.8% in the 1st quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock worth $18,636,000 after acquiring an additional 167,950 shares in the last quarter. Finally, Geneva Advisors LLC grew its stake in NuVasive by 3.3% in the 2nd quarter. Geneva Advisors LLC now owns 17,369 shares of the medical device company’s stock worth $1,336,000 after acquiring an additional 555 shares in the last quarter.

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)

Receive News & Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply