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.
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.
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