ValuEngine Downgrades NuVasive (NASDAQ:NUVA) to Hold

ValuEngine cut shares of NuVasive (NASDAQ:NUVA) from a buy rating to a hold rating in a research note published on Friday morning, ValuEngine reports.

A number of other research analysts have also weighed in on NUVA. Zacks Investment Research lowered NuVasive from a hold rating to a sell rating in a research report on Monday, February 25th. BidaskClub upgraded NuVasive from a sell rating to a hold rating in a research report on Thursday, April 25th. Finally, Cantor Fitzgerald restated a hold rating and set a $61.00 price objective on shares of NuVasive in a research report on Thursday, May 2nd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $67.43.

Shares of NuVasive stock opened at $57.92 on Friday. The stock has a market cap of $3.09 billion, a PE ratio of 25.27, a PEG ratio of 2.19 and a beta of 1.19. The company has a quick ratio of 1.96, a current ratio of 3.75 and a debt-to-equity ratio of 0.80. NuVasive has a twelve month low of $43.51 and a twelve month high of $72.41.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Wednesday, May 1st. The medical device company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.12. The firm had revenue of $274.78 million during the quarter, compared to analyst estimates of $269.22 million. NuVasive had a return on equity of 15.16% and a net margin of 4.39%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.39 earnings per share. Analysts anticipate that NuVasive will post 2.28 earnings per share for the current fiscal year.

In related news, President Matthew Link sold 10,100 shares of NuVasive stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $62.00, for a total value of $626,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.97% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Enlightenment Research LLC purchased a new position in shares of NuVasive during the fourth quarter valued at approximately $25,000. Royce & Associates LP purchased a new position in shares of NuVasive during the fourth quarter valued at approximately $25,000. Bessemer Group Inc. purchased a new position in shares of NuVasive during the fourth quarter valued at approximately $50,000. Rockefeller Capital Management L.P. boosted its position in shares of NuVasive by 251.2% during the first quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock valued at $114,000 after buying an additional 1,432 shares during the period. Finally, Knott David M purchased a new position in shares of NuVasive during the first quarter valued at approximately $114,000.

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 products include 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.

Further Reading: SEC Filing

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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