Piper Jaffray Companies Reaffirms “Buy” Rating for NuVasive (NUVA)

Piper Jaffray Companies reaffirmed their buy rating on shares of NuVasive (NASDAQ:NUVA) in a research report released on Tuesday, January 9th. Piper Jaffray Companies currently has a $90.00 price target on the medical device company’s stock.

A number of other equities research analysts have also recently weighed in on NUVA. TheStreet cut NuVasive from a b- rating to a c+ rating in a report on Friday, October 13th. Needham & Company LLC raised NuVasive from an underperform rating to a buy rating and set a $71.00 price target for the company in a report on Thursday, January 4th. Royal Bank of Canada reaffirmed a buy rating and set a $75.00 price target on shares of NuVasive in a report on Tuesday, October 10th. JPMorgan Chase & Co. set a $78.00 price target on NuVasive and gave the company a buy rating in a report on Wednesday, October 25th. Finally, Barclays dropped their price target on NuVasive from $80.00 to $65.00 and set an overweight rating for the company in a report on Thursday, October 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $72.33.

Shares of NuVasive (NASDAQ NUVA) traded up $1.29 on Tuesday, hitting $52.08. The stock had a trading volume of 1,387,822 shares, compared to its average volume of 968,261. NuVasive has a fifty-two week low of $48.41 and a fifty-two week 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. The firm has a market cap of $2,588.66, a PE ratio of 26.87, a PEG ratio of 1.45 and a beta of 0.77.

NuVasive (NASDAQ:NUVA) last issued its earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ 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 during the quarter, compared to analysts’ expectations of $255.70 million. During the same period in the prior year, the firm posted $0.40 EPS. NuVasive’s quarterly revenue was up 3.3% compared to the same quarter last year. analysts anticipate that NuVasive will post 1.91 earnings per share for the current fiscal year.

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

Several large investors have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in shares of NuVasive in the 4th quarter worth $1,469,000. Schwab Charles Investment Management Inc. lifted its holdings in NuVasive by 8.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 278,712 shares of the medical device company’s stock worth $16,302,000 after acquiring an additional 20,686 shares in the last quarter. Profit Investment Management LLC lifted its holdings in NuVasive by 7.2% during the fourth quarter. Profit Investment Management LLC now owns 37,869 shares of the medical device company’s stock worth $2,215,000 after acquiring an additional 2,533 shares in the last quarter. Bank of Montreal Can lifted its holdings in NuVasive by 567.5% during the fourth quarter. Bank of Montreal Can now owns 27,830 shares of the medical device company’s stock worth $1,627,000 after acquiring an additional 23,661 shares in the last quarter. Finally, DnB Asset Management AS bought a new position in NuVasive during the fourth quarter worth about $9,405,000.

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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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