NuVasive (NASDAQ:NUVA) had its target price raised by stock analysts at Robert W. Baird from $74.00 to $82.00 in a research note issued on Tuesday, BenzingaRatingsTable reports. The firm presently has a “neutral” rating on the medical device company’s stock. Robert W. Baird’s target price would suggest a potential upside of 2.87% from the stock’s previous close.
A number of other research analysts have also recently weighed in on the stock. Morgan Stanley lifted their price objective on shares of NuVasive from $73.00 to $82.00 and gave the company an “equal weight” rating in a report on Tuesday, December 17th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Friday, November 1st. Credit Suisse Group increased their target price on shares of NuVasive from $76.00 to $87.00 and gave the stock an “outperform” rating in a report on Wednesday, January 8th. Canaccord Genuity reissued a “buy” rating and issued a $80.00 price objective on shares of NuVasive in a research report on Friday, January 3rd. Finally, Leerink Swann upgraded shares of NuVasive from a “market perform” rating to a “buy” rating and set a $92.00 price target for the company in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. NuVasive currently has an average rating of “Buy” and a consensus target price of $76.47.
NUVA traded down $0.74 on Tuesday, reaching $79.71. The stock had a trading volume of 5,163 shares, compared to its average volume of 363,630. NuVasive has a 12-month low of $45.48 and a 12-month high of $81.91. The company has a current ratio of 3.68, a quick ratio of 2.08 and a debt-to-equity ratio of 0.79. The business’s 50-day moving average price is $76.39 and its two-hundred day moving average price is $67.40. The company has a market cap of $4.22 billion, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 2.41 and a beta of 1.19.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Wednesday, October 30th. The medical device company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. NuVasive had a net margin of 4.15% and a return on equity of 14.93%. The company had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $283.75 million. During the same quarter in the previous year, the company earned $0.56 earnings per share. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. As a group, analysts predict that NuVasive will post 2.38 earnings per share for the current year.
In other news, Director Gregory T. Lucier sold 29,469 shares of NuVasive stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $72.99, for a total transaction of $2,150,942.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul Mcclintock sold 3,314 shares of NuVasive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $72.04, for a total transaction of $238,740.56. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd purchased a new stake in NuVasive in the second quarter valued at approximately $28,000. Tower Research Capital LLC TRC grew its holdings in NuVasive by 322.9% in the second quarter. Tower Research Capital LLC TRC now owns 888 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 678 shares during the period. First Mercantile Trust Co. grew its holdings in NuVasive by 11.6% in the third quarter. First Mercantile Trust Co. now owns 1,430 shares of the medical device company’s stock valued at $91,000 after purchasing an additional 149 shares during the period. Cutler Group LP purchased a new stake in NuVasive in the third quarter valued at approximately $95,000. Finally, Russell Investments Group Ltd. purchased a new stake in NuVasive in the third quarter valued at approximately $209,000. Hedge funds and other institutional investors own 98.84% of the company’s stock.
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.
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