NuVasive, Inc. (NUVA) Earns “Buy” Rating from Jefferies Group LLC

Jefferies Group LLC restated their buy rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a research report released on Sunday, July 30th. The firm currently has a $79.00 price objective on the medical device company’s stock.

NUVA has been the topic of a number of other research reports. Morgan Stanley reaffirmed an equal weight rating and issued a $88.00 price objective (up previously from $84.00) on shares of NuVasive in a research report on Tuesday, July 25th. BMO Capital Markets reaffirmed a buy rating and issued a $82.00 price objective on shares of NuVasive in a research report on Tuesday, April 11th. Cowen and Company reaffirmed an outperform rating and issued a $90.00 price objective (up previously from $85.00) on shares of NuVasive in a research report on Wednesday, June 28th. Piper Jaffray Companies reaffirmed an overweight rating and issued a $90.00 price objective on shares of NuVasive in a research report on Wednesday, July 5th. Finally, BidaskClub downgraded shares of NuVasive from a buy rating to a hold rating in a research report on Wednesday, June 28th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $81.18.

Shares of NuVasive (NASDAQ NUVA) opened at 64.06 on Friday. NuVasive has a one year low of $56.70 and a one year high of $81.68. The stock has a market cap of $3.25 billion, a PE ratio of 100.88 and a beta of 1.06. The firm has a 50-day moving average of $72.27 and a 200-day moving average of $73.89.

NuVasive (NASDAQ:NUVA) last posted its earnings results on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The business had revenue of $260.60 million for the quarter, compared to the consensus estimate of $261.95 million. During the same quarter last year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. On average, equities research analysts expect that NuVasive will post $2.00 earnings per share for the current fiscal year.

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In other NuVasive news, Director Lesley H. Howe sold 3,970 shares of NuVasive stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $64.64, for a total transaction of $256,620.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory T. Lucier acquired 5,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average price of $66.22 per share, with a total value of $331,100.00. The disclosure for this purchase can be found here. 4.70% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in NUVA. Vanguard Group Inc. boosted its stake in shares of NuVasive by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock valued at $320,312,000 after buying an additional 53,769 shares during the last quarter. Champlain Investment Partners LLC boosted its stake in shares of NuVasive by 2.3% in the first quarter. Champlain Investment Partners LLC now owns 1,908,280 shares of the medical device company’s stock valued at $142,510,000 after buying an additional 42,395 shares during the last quarter. State Street Corp boosted its stake in shares of NuVasive by 4.2% in the second quarter. State Street Corp now owns 1,710,341 shares of the medical device company’s stock valued at $131,562,000 after buying an additional 68,344 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of NuVasive by 43.7% in the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock valued at $130,761,000 after buying an additional 517,115 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in shares of NuVasive by 10.4% in the first quarter. Eagle Asset Management Inc. now owns 1,428,644 shares of the medical device company’s stock valued at $106,691,000 after buying an additional 134,729 shares during the last quarter.

About NuVasive

Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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