NuVasive (NASDAQ:NUVA) had its price objective reduced by JPMorgan Chase & Co. from $70.00 to $60.00 in a note issued to investors on Thursday, The Fly reports. The brokerage currently has a “neutral” rating on the medical device company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 6.44% from the stock’s previous close.
Separately, Needham & Company LLC restated a “buy” rating on shares of NuVasive in a research note on Thursday, July 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $67.00.
NUVA stock opened at $56.37 on Thursday. The stock has a 50-day moving average price of $59.66 and a 200-day moving average price of $64.58. NuVasive has a 1-year low of $43.11 and a 1-year high of $72.61. The company has a current ratio of 3.95, a quick ratio of 2.30 and a debt-to-equity ratio of 1.05. The firm has a market cap of $2.91 billion, a PE ratio of 2,819.91, a price-to-earnings-growth ratio of 3.08 and a beta of 1.32.
Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. boosted its stake in NuVasive by 11.5% during the 1st quarter. Principal Financial Group Inc. now owns 296,691 shares of the medical device company’s stock valued at $19,451,000 after purchasing an additional 30,711 shares during the last quarter. Kennedy Capital Management Inc. boosted its stake in shares of NuVasive by 4.0% in the 1st quarter. Kennedy Capital Management Inc. now owns 175,966 shares of the medical device company’s stock worth $11,536,000 after buying an additional 6,724 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of NuVasive by 13.3% in the 1st quarter. Glenmede Trust Co. NA now owns 250,608 shares of the medical device company’s stock worth $16,429,000 after buying an additional 29,426 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of NuVasive in the 1st quarter worth approximately $366,000. Finally, Centiva Capital LP purchased a new position in shares of NuVasive in the 1st quarter worth approximately $587,000.
NuVasive Company Profile
NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.
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