NuVasive, Inc. (NUVA) Receives Average Rating of “Buy” from Brokerages

NuVasive, Inc. (NASDAQ:NUVA) has been given a consensus recommendation of “Buy” by the twenty ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $66.80.

NUVA has been the subject of several recent research reports. Zacks Investment Research raised NuVasive from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research note on Monday, February 19th. Cowen set a $62.00 target price on NuVasive and gave the company a “buy” rating in a research report on Tuesday, February 27th. Barclays restated a “buy” rating and set a $62.00 target price (down previously from $66.00) on shares of NuVasive in a research report on Tuesday, February 27th. Canaccord Genuity cut their target price on NuVasive from $81.00 to $73.00 and set a “buy” rating on the stock in a research report on Tuesday, February 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $70.00 target price (down previously from $71.00) on shares of NuVasive in a research report on Tuesday, February 27th.

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Shares of NUVA stock traded up $0.55 on Wednesday, hitting $52.87. The company had a trading volume of 719,840 shares, compared to its average volume of 915,854. The stock has a market cap of $2,815.08, a price-to-earnings ratio of 27.68, a PEG ratio of 1.47 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 has a twelve month low of $44.62 and a twelve month high of $81.68.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Monday, February 26th. The medical device company reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. The company had revenue of $271.70 million during the quarter, compared to analysts’ expectations of $272.11 million. NuVasive had a return on equity of 13.40% and a net margin of 8.06%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share. sell-side analysts forecast that NuVasive will post 2.46 earnings per share for the current year.

In other news, CEO Gregory T. Lucier purchased 6,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were acquired at an average price of $48.57 per share, for a total transaction of $291,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.95% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Champlain Investment Partners LLC boosted its holdings in NuVasive by 6.4% in the fourth quarter. Champlain Investment Partners LLC now owns 2,866,247 shares of the medical device company’s stock worth $167,647,000 after acquiring an additional 171,455 shares in the last quarter. Eagle Asset Management Inc. boosted its holdings in NuVasive by 0.3% in the fourth quarter. Eagle Asset Management Inc. now owns 1,134,950 shares of the medical device company’s stock worth $65,542,000 after acquiring an additional 3,585 shares in the last quarter. AXA boosted its holdings in NuVasive by 80.1% in the fourth quarter. AXA now owns 800,475 shares of the medical device company’s stock worth $46,820,000 after acquiring an additional 355,908 shares in the last quarter. Carillon Tower Advisers Inc. bought a new position in NuVasive in the fourth quarter worth approximately $43,226,000. Finally, Stephens Investment Management Group LLC boosted its holdings in NuVasive by 5.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 719,849 shares of the medical device company’s stock worth $42,104,000 after acquiring an additional 35,770 shares in the last quarter.

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About NuVasive

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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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