BidaskClub upgraded shares of NuVasive (NASDAQ:NUVA) from a sell rating to a hold rating in a report issued on Tuesday.
Other equities research analysts have also recently issued reports about the stock. BTIG Research set a $74.00 price objective on shares of NuVasive and gave the stock a buy rating in a research report on Wednesday, December 13th. Leerink Swann raised their price objective on shares of NuVasive from $51.00 to $52.00 and gave the company a market perform rating in a research note on Tuesday, February 27th. ValuEngine lowered shares of NuVasive from a hold rating to a sell rating in a research note on Thursday, March 1st. Robert W. Baird reaffirmed a hold rating and issued a $55.00 price objective on shares of NuVasive in a research note on Tuesday, February 27th. Finally, Zacks Investment Research lowered shares of NuVasive from a buy rating to a hold rating in a research note on Tuesday, February 20th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $67.27.
NuVasive (NUVA) opened at $50.83 on Tuesday. NuVasive has a 52 week low of $44.62 and a 52 week high of $81.68. The company has a market cap of $2,672.52, a PE ratio of 33.01, a P/E/G ratio of 1.33 and a beta of 0.50. The company has a quick ratio of 1.94, a current ratio of 3.48 and a debt-to-equity ratio of 0.73.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Monday, February 26th. The medical device company reported $0.56 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.56. The company had revenue of $271.70 million during the quarter, compared to the consensus estimate of $272.11 million. NuVasive had a net margin of 8.06% and a return on equity of 13.40%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. equities analysts forecast that NuVasive will post 2.46 earnings per share for the current year.
In other news, CEO Gregory T. Lucier purchased 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 6th. The shares were bought at an average cost of $50.30 per share, with a total value of $301,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NUVA. Crossmark Global Holdings Inc. purchased a new stake in NuVasive during the third quarter worth about $427,000. Rhumbline Advisers lifted its holdings in shares of NuVasive by 15.9% in the 3rd quarter. Rhumbline Advisers now owns 122,785 shares of the medical device company’s stock worth $6,810,000 after acquiring an additional 16,800 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of NuVasive by 6.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 22,927 shares of the medical device company’s stock worth $1,272,000 after acquiring an additional 1,452 shares during the last quarter. Rothschild Asset Management Inc. lifted its holdings in shares of NuVasive by 5.8% in the 3rd quarter. Rothschild Asset Management Inc. now owns 528,023 shares of the medical device company’s stock worth $29,284,000 after acquiring an additional 28,973 shares during the last quarter. Finally, Icon Advisers Inc. Co. bought a new stake in shares of NuVasive in the 3rd quarter worth approximately $360,000.
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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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