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.
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