NuVasive (NASDAQ:NUVA) had its target price cut by Morgan Stanley from $77.00 to $73.00 in a report published on Wednesday morning. They currently have a hold rating on the medical device company’s stock.
Several other research firms have also commented on NUVA. BidaskClub raised NuVasive from a buy rating to a strong-buy rating in a research report on Friday, September 14th. ValuEngine raised NuVasive from a hold rating to a buy rating in a research report on Wednesday, September 19th. Canaccord Genuity boosted their price target on NuVasive from $70.00 to $80.00 and gave the stock a buy rating in a research report on Tuesday, September 18th. Zacks Investment Research raised NuVasive from a sell rating to a hold rating in a research report on Tuesday, August 21st. Finally, Cowen boosted their price target on NuVasive from $62.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $67.63.
Shares of NUVA traded down $0.76 during trading hours on Wednesday, hitting $56.50. The company had a trading volume of 882,827 shares, compared to its average volume of 785,350. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 29.58, a PEG ratio of 1.68 and a beta of 0.78. The company has a current ratio of 3.45, a quick ratio of 1.53 and a debt-to-equity ratio of 0.74. NuVasive has a one year low of $44.62 and a one year high of $72.41.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Tuesday, October 30th. The medical device company reported $0.56 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.06). The company had revenue of $271.30 million during the quarter, compared to the consensus estimate of $265.70 million. NuVasive had a return on equity of 13.87% and a net margin of 2.24%. The company’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.52 earnings per share. On average, equities research analysts forecast that NuVasive will post 2.18 EPS for the current year.
A number of large investors have recently made changes to their positions in NUVA. Guggenheim Capital LLC increased its position in NuVasive by 12.0% during the 1st quarter. Guggenheim Capital LLC now owns 12,026 shares of the medical device company’s stock valued at $627,000 after buying an additional 1,285 shares in the last quarter. Legal & General Group Plc grew its stake in NuVasive by 11.3% during the 1st quarter. Legal & General Group Plc now owns 51,828 shares of the medical device company’s stock valued at $2,706,000 after purchasing an additional 5,258 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in NuVasive by 33.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,716 shares of the medical device company’s stock valued at $351,000 after purchasing an additional 1,700 shares during the last quarter. Principal Financial Group Inc. grew its stake in NuVasive by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock valued at $11,826,000 after purchasing an additional 9,438 shares during the last quarter. Finally, DnB Asset Management AS grew its stake in NuVasive by 8.6% during the 2nd quarter. DnB Asset Management AS now owns 174,600 shares of the medical device company’s stock valued at $9,100,000 after purchasing an additional 13,800 shares during the last quarter.
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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