Shares of NuVasive, Inc. (NASDAQ:NUVA) have been given an average recommendation of “Hold” by the twenty-two analysts that are currently covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $65.50.
A number of research analysts have commented on the stock. BidaskClub raised shares of NuVasive from a “hold” rating to a “buy” rating in a research report on Friday, June 15th. Bank of America cut shares of NuVasive from a “neutral” rating to an “underperform” rating in a research report on Wednesday, June 27th. Needham & Company LLC reaffirmed a “buy” rating and issued a $69.00 target price (down previously from $70.00) on shares of NuVasive in a research report on Wednesday, May 2nd. BTIG Research reaffirmed a “buy” rating and issued a $72.00 target price on shares of NuVasive in a research report on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. cut shares of NuVasive from an “overweight” rating to a “neutral” rating and set a $74.00 target price on the stock. in a research report on Thursday, June 21st.
Shares of NuVasive traded down $0.09, hitting $52.03, on Monday, Marketbeat.com reports. 640,400 shares of the stock traded hands, compared to its average volume of 800,586. The company has a current ratio of 2.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 27.24, a PEG ratio of 1.56 and a beta of 0.43. NuVasive has a twelve month low of $44.62 and a twelve month high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, May 1st. The medical device company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). NuVasive had a net margin of 4.14% and a return on equity of 13.14%. The firm had revenue of $260.50 million for the quarter, compared to analyst estimates of $259.43 million. During the same period in the previous year, the firm posted $0.37 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. equities research analysts predict that NuVasive will post 2.45 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. acquired a new stake in shares of NuVasive during the fourth quarter worth about $19,094,000. Raymond James & Associates lifted its position in shares of NuVasive by 4.2% during the fourth quarter. Raymond James & Associates now owns 41,669 shares of the medical device company’s stock worth $2,437,000 after purchasing an additional 1,689 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of NuVasive by 7.9% during the fourth quarter. UBS Asset Management Americas Inc. now owns 32,682 shares of the medical device company’s stock worth $1,912,000 after purchasing an additional 2,399 shares in the last quarter. Westside Investment Management Inc. lifted its position in shares of 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 in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of NuVasive by 1.0% during the fourth quarter. Bank of New York Mellon Corp now owns 681,858 shares of the medical device company’s stock worth $39,881,000 after purchasing an additional 6,913 shares in the last quarter.
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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