BidaskClub upgraded shares of NuVasive (NASDAQ:NUVA) from a sell rating to a hold rating in a report released on Saturday morning.
Several other research analysts have also recently commented on NUVA. Cowen set a $62.00 price target on shares of NuVasive and gave the stock a buy rating in a report on Tuesday, February 27th. Barclays reiterated a buy rating and set a $62.00 price target (down previously from $66.00) on shares of NuVasive in a report on Tuesday, February 27th. Canaccord Genuity lowered their price target on shares of NuVasive from $81.00 to $73.00 and set a buy rating for the company in a report on Tuesday, February 27th. Needham & Company LLC reiterated a buy rating and set a $70.00 price target (down previously from $71.00) on shares of NuVasive in a report on Tuesday, February 27th. Finally, Zacks Investment Research upgraded shares of NuVasive from a hold rating to a buy rating and set a $54.00 price target for the company in a report on Monday, February 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $65.75.
Shares of NuVasive opened at $50.06 on Friday, MarketBeat.com reports. The company has a quick ratio of 1.30, a current ratio of 2.41 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $2.57 billion, a P/E ratio of 25.94, a price-to-earnings-growth ratio of 1.36 and a beta of 0.39. NuVasive has a fifty-two week low of $44.62 and a fifty-two week high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Tuesday, May 1st. The medical device company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). The business had revenue of $260.50 million during the quarter, compared to analyst estimates of $259.43 million. NuVasive had a net margin of 4.14% and a return on equity of 13.14%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. research analysts predict that NuVasive will post 2.45 EPS for the current year.
In related news, CEO Gregory T. Lucier acquired 6,000 shares of NuVasive stock in a transaction dated Tuesday, March 6th. The stock was acquired at an average price of $50.30 per share, for a total transaction of $301,800.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in shares of NuVasive by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock worth $11,826,000 after buying an additional 9,438 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in shares of NuVasive by 33.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,716 shares of the medical device company’s stock worth $351,000 after buying an additional 1,700 shares during the last quarter. Legal & General Group Plc lifted its position in shares of NuVasive by 11.3% during the 1st quarter. Legal & General Group Plc now owns 51,828 shares of the medical device company’s stock worth $2,706,000 after buying an additional 5,258 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of NuVasive during the 1st quarter worth approximately $6,375,000. Finally, Verition Fund Management LLC purchased a new stake in shares of NuVasive during the 1st quarter worth approximately $1,269,000.
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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