NuVasive, Inc. (NASDAQ:NUVA) has received an average rating of “Buy” from the nineteen ratings firms that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $72.33.
NUVA has been the subject of several recent research reports. Royal Bank of Canada cut their price target on NuVasive from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Cowen reaffirmed an “outperform” rating and issued a $83.00 price target on shares of NuVasive in a report on Monday, September 18th. Robert W. Baird set a $60.00 price target on NuVasive and gave the company a “hold” rating in a report on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of NuVasive in a report on Tuesday, October 3rd. Finally, Needham & Company LLC reaffirmed a “sell” rating on shares of NuVasive in a report on Friday, October 6th.
NuVasive (NUVA) traded down $0.65 during midday trading on Monday, hitting $52.61. The stock had a trading volume of 1,606,800 shares, compared to its average volume of 1,462,014. The stock has a market capitalization of $2,680.00, a P/E ratio of 44.21, a PEG ratio of 1.63 and a beta of 0.77. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.51 and a current ratio of 2.85.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, beating the 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 firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $255.70 million. During the same quarter last year, the firm earned $0.40 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. research analysts forecast that NuVasive will post 1.91 EPS for the current fiscal year.
NuVasive declared that its board has approved a stock repurchase program on Tuesday, October 24th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the medical device company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of NuVasive by 1.3% during the second quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after buying an additional 53,769 shares during the period. Icon Advisers Inc. Co. purchased a new position in shares of NuVasive during the third quarter worth $360,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of NuVasive during the second quarter worth $501,000. Sector Gamma AS purchased a new position in shares of NuVasive during the third quarter worth $10,149,000. Finally, Public Employees Retirement System of Ohio boosted its holdings in NuVasive by 68.3% in the second quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock valued at $8,874,000 after purchasing an additional 46,805 shares during the period.
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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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