Piper Jaffray Companies reissued their buy rating on shares of NuVasive (NASDAQ:NUVA) in a research note issued to investors on Tuesday, January 9th. They currently have a $90.00 price target on the medical device company’s stock.
Other research analysts have also recently issued reports about the company. Gabelli reaffirmed a buy rating on shares of NuVasive in a report on Thursday, September 21st. Cowen reaffirmed an outperform rating and issued a $83.00 price target on shares of NuVasive in a report on Monday, September 18th. BTIG Research set a $74.00 price objective on NuVasive and gave the stock a buy rating in a report on Wednesday, December 13th. BidaskClub cut NuVasive from a hold rating to a sell rating in a report on Wednesday, December 27th. Finally, Canaccord Genuity reissued a buy rating and set a $70.00 price objective (down from $75.00) on shares of NuVasive in a report on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $72.33.
Shares of NuVasive (NASDAQ:NUVA) traded up $1.29 during trading hours on Tuesday, hitting $52.08. 1,387,822 shares of the stock traded hands, compared to its average volume of 1,443,292. NuVasive has a 52 week low of $48.41 and a 52 week high of $81.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. The firm has a market cap of $2,563.18, a P/E ratio of 43.76, a PEG ratio of 1.44 and a beta of 0.77.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $255.70 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities research analysts predict that NuVasive will post 1.91 earnings per share for the current fiscal year.
NuVasive declared that its Board of Directors has initiated a stock buyback plan on Tuesday, October 24th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the medical device company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares during the period. Howard Hughes Medical Institute boosted its position in NuVasive by 82.8% during the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock worth $159,000 after acquiring an additional 936 shares during the last quarter. Shelton Capital Management acquired a new position in NuVasive during the 2nd quarter worth approximately $221,000. Zions Bancorporation acquired a new position in NuVasive during the 3rd quarter worth approximately $160,000. Finally, Verition Fund Management LLC acquired a new position in NuVasive during the 2nd quarter worth approximately $233,000.
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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