NuVasive (NASDAQ:NUVA) Cut to Sell at BidaskClub

NuVasive (NASDAQ:NUVA) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday, December 27th.

Several other research firms also recently commented on NUVA. Royal Bank of Canada reissued a “buy” rating and issued a $75.00 target price on shares of NuVasive in a report on Friday, September 8th. BTIG Research initiated coverage on NuVasive in a report on Thursday, September 7th. They set a “buy” rating and a $82.00 price target on the stock. Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. BMO Capital Markets reaffirmed a “buy” rating and set a $70.00 price target on shares of NuVasive in a report on Thursday, December 14th. Finally, Cowen reaffirmed an “outperform” rating and set a $83.00 price target on shares of NuVasive in a report on Monday, September 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.33.

Shares of NuVasive (NASDAQ:NUVA) traded down $0.12 during mid-day trading on Wednesday, reaching $52.49. The company had a trading volume of 1,284,950 shares, compared to its average volume of 1,439,881. 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 has a 12 month low of $49.25 and a 12 month high of $81.68. The stock has a market capitalization of $2,680.00, a PE ratio of 44.11, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77.

NuVasive (NASDAQ:NUVA) last released its earnings results 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 the consensus estimate of $255.70 million. During the same period in the previous year, the company posted $0.40 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities research analysts predict that NuVasive will post 1.91 earnings per share for the current year.

NuVasive announced that its Board of Directors has approved a share repurchase program on Tuesday, October 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the medical device company to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional investors and hedge funds have recently modified their holdings of the business. First Trust Advisors LP increased its position in NuVasive by 17.7% in the second quarter. First Trust Advisors LP now owns 36,597 shares of the medical device company’s stock worth $2,815,000 after buying an additional 5,510 shares in the last quarter. Vanguard Group Inc. increased its position in NuVasive by 1.3% in 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 in the last quarter. Icon Advisers Inc. Co. purchased a new stake in NuVasive in the third quarter worth about $360,000. Neuberger Berman Group LLC increased its position in NuVasive by 8.9% in the second quarter. Neuberger Berman Group LLC now owns 439,121 shares of the medical device company’s stock worth $33,777,000 after buying an additional 35,866 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in NuVasive by 120.0% in the second quarter. BNP Paribas Arbitrage SA now owns 26,446 shares of the medical device company’s stock worth $2,034,000 after buying an additional 14,427 shares in the last quarter.

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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)

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