Investment analysts at Goldman Sachs assumed coverage on shares of NuVasive (NASDAQ:NUVA) in a note issued to investors on Wednesday, Marketbeat reports. The firm set a “neutral” rating and a $47.00 price target on the medical device company’s stock. Goldman Sachs’ price objective indicates a potential downside of 14.48% from the stock’s previous close.
Other analysts also recently issued research reports about the stock. BidaskClub downgraded shares of NuVasive from a “sell” rating to a “strong sell” rating in a report on Thursday, January 11th. BTIG Research set a $74.00 price objective on shares of NuVasive and gave the company a “buy” rating in a research note on Wednesday, December 13th. Leerink Swann downgraded shares of NuVasive from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 1st. Canaccord Genuity reduced their price objective on shares of NuVasive from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Finally, Wells Fargo downgraded shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $66.00.
Shares of NASDAQ NUVA opened at $54.96 on Wednesday. NuVasive has a 12-month low of $44.62 and a 12-month high of $81.68. The stock has a market capitalization of $2,772.53, a price-to-earnings ratio of 28.75, a price-to-earnings-growth ratio of 1.45 and a beta of 0.38. The company has a current ratio of 3.48, a quick ratio of 1.94 and a debt-to-equity ratio of 0.73.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Monday, February 26th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. NuVasive had a net margin of 8.06% and a return on equity of 13.40%. The company had revenue of $271.70 million for the quarter, compared to the consensus estimate of $272.11 million. During the same quarter in the prior year, the firm earned $0.53 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. equities analysts predict that NuVasive will post 2.46 EPS for the current fiscal year.
In related news, CEO Gregory T. Lucier purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was purchased at an average price of $48.57 per share, with a total value of $291,420.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
A number of hedge funds have recently modified their holdings of NUVA. Westside Investment Management Inc. increased its position in NuVasive by 76.0% during the fourth quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock worth $147,000 after purchasing an additional 1,140 shares during the last quarter. Zions Bancorporation acquired a new position in NuVasive during the third quarter worth approximately $160,000. Baird Financial Group Inc. acquired a new position in NuVasive during the fourth quarter worth approximately $205,000. Xact Kapitalforvaltning AB acquired a new position in NuVasive during the fourth quarter worth approximately $293,000. Finally, Meadow Creek Investment Management LLC increased its position in NuVasive by 22.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 7,344 shares of the medical device company’s stock worth $429,000 after purchasing an additional 1,326 shares during the last quarter.
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NuVasive Company Profile
NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.
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