NuVasive Inc. (NASDAQ:NUVA) had its target price upped by Barclays PLC from $71.00 to $74.00 in a research report sent to investors on Monday. The brokerage currently has an overweight rating on the medical device company’s stock.
Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. upgraded shares of NuVasive from a neutral rating to an overweight rating and raised their price target for the company from $55.00 to $74.00 in a research note on Wednesday, July 13th. Zacks Investment Research lowered shares of NuVasive from a strong-buy rating to a hold rating in a research note on Wednesday, July 27th. Jefferies Group restated a buy rating on shares of NuVasive in a research note on Wednesday, August 3rd. TheStreet upgraded shares of NuVasive from a hold rating to a strong-buy rating in a research note on Tuesday, July 26th. Finally, Brean Capital raised their price objective on shares of NuVasive from $60.00 to $70.00 and gave the company a buy rating in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $66.36.
Shares of NuVasive (NASDAQ:NUVA) opened at 67.24 on Monday. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 69.75 and a beta of 0.51. The company has a 50-day moving average price of $66.03 and a 200-day moving average price of $58.91. NuVasive has a 1-year low of $36.81 and a 1-year high of $69.50.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, July 26th. The medical device company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.36 by $0.04. NuVasive had a net margin of 5.28% and a return on equity of 10.57%. The company had revenue of $236.50 million for the quarter, compared to analyst estimates of $232.86 million. During the same quarter last year, the business earned $0.31 earnings per share. NuVasive’s revenue was up 16.4% compared to the same quarter last year. On average, equities analysts expect that NuVasive will post $1.65 earnings per share for the current fiscal year.
In related news, EVP Jason Hannon sold 11,184 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $62.70, for a total value of $701,236.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lesley H. Howe sold 3,602 shares of the firm’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $62.44, for a total transaction of $224,908.88. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its position in NuVasive by 11.9% in the second quarter. BNP Paribas Arbitrage SA now owns 45,084 shares of the medical device company’s stock worth $2,692,000 after buying an additional 4,782 shares in the last quarter. State Street Corp raised its stake in shares of NuVasive by 1.9% in the first quarter. State Street Corp now owns 1,079,736 shares of the medical device company’s stock worth $52,522,000 after buying an additional 20,644 shares during the period. Hood River Capital Management LLC bought a new stake in shares of NuVasive during the second quarter worth about $25,307,000. Nomura Holdings Inc. bought a new stake in shares of NuVasive during the second quarter worth about $5,267,000. Finally, Aperio Group LLC raised its stake in shares of NuVasive by 11.1% in the first quarter. Aperio Group LLC now owns 7,541 shares of the medical device company’s stock worth $367,000 after buying an additional 753 shares during the period.
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
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