BidaskClub upgraded shares of NuVasive (NASDAQ:NUVA) from a hold rating to a buy rating in a research report report published on Wednesday, April 11th.
Several other analysts also recently weighed in on NUVA. Zacks Investment Research upgraded NuVasive from a hold rating to a buy rating and set a $54.00 price objective for the company in a research report on Monday, February 19th. BMO Capital Markets restated a buy rating and set a $70.00 price objective on shares of NuVasive in a research report on Thursday, December 14th. BTIG Research set a $74.00 target price on NuVasive and gave the company a buy rating in a research report on Wednesday, December 13th. Piper Jaffray reiterated a buy rating and issued a $90.00 target price on shares of NuVasive in a research report on Tuesday, January 9th. Finally, Needham & Company LLC upgraded NuVasive from an underperform rating to a buy rating and set a $71.00 target price for the company in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $66.00.
NUVA stock opened at $52.89 on Wednesday. The company has a current ratio of 3.48, a quick ratio of 1.94 and a debt-to-equity ratio of 0.73. The company has a market cap of $2,688.47, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.38. NuVasive has a 1-year low of $44.62 and a 1-year high of $81.68.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Monday, February 26th. The medical device company reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The firm had revenue of $271.70 million for the quarter, compared to analyst estimates of $272.11 million. NuVasive had a return on equity of 13.40% and a net margin of 8.06%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 EPS. equities analysts forecast that NuVasive will post 2.46 EPS for the current year.
In other news, CEO Gregory T. Lucier bought 6,000 shares of the stock in a transaction on Thursday, March 1st. The shares were purchased at an average cost of $48.57 per share, for a total transaction of $291,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Champlain Investment Partners LLC grew its position in shares of NuVasive by 6.4% in the fourth quarter. Champlain Investment Partners LLC now owns 2,866,247 shares of the medical device company’s stock valued at $167,647,000 after purchasing an additional 171,455 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of NuVasive by 0.3% in the fourth quarter. Eagle Asset Management Inc. now owns 1,134,950 shares of the medical device company’s stock valued at $65,542,000 after purchasing an additional 3,585 shares in the last quarter. AXA grew its position in shares of NuVasive by 80.1% in the fourth quarter. AXA now owns 800,475 shares of the medical device company’s stock valued at $46,820,000 after purchasing an additional 355,908 shares in the last quarter. Carillon Tower Advisers Inc. purchased a new position in shares of NuVasive in the fourth quarter valued at $43,226,000. Finally, Stephens Investment Management Group LLC grew its position in shares of NuVasive by 5.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 719,849 shares of the medical device company’s stock valued at $42,104,000 after purchasing an additional 35,770 shares in the last quarter.
NuVasive Company Profile
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 product is 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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