NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “overweight” rating restated by stock analysts at Piper Jaffray Companies in a research note issued to investors on Wednesday. They presently have a $90.00 target price on the medical device company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 41.46% from the company’s previous close.
Several other equities research analysts have also recently issued reports on the stock. Barclays PLC reaffirmed a “buy” rating and set a $80.00 price target on shares of NuVasive in a research note on Wednesday, August 2nd. Gabelli reaffirmed a “buy” rating on shares of NuVasive in a research note on Monday, July 31st. BidaskClub cut shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research cut shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Cowen and Company reaffirmed an “outperform” rating and set a $83.00 price target (down from $90.00) on shares of NuVasive in a research note on Sunday, July 30th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $81.18.
Shares of NuVasive (NASDAQ NUVA) traded down 0.31% during trading on Wednesday, reaching $63.60. 779,778 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $75.62 and a 200-day moving average price of $74.21. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 100.16 and a beta of 1.06. NuVasive has a 52 week low of $56.70 and a 52 week high of $81.68.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $261.95 million. During the same period last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Analysts predict that NuVasive will post $2.00 earnings per share for the current year.
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In related news, EVP Peter Michael Leddy acquired 7,850 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average cost of $63.88 per share, for a total transaction of $501,458.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in NUVA. Russell Investments Group Ltd. raised its position in NuVasive by 10.0% in the first quarter. Russell Investments Group Ltd. now owns 93,889 shares of the medical device company’s stock valued at $7,012,000 after buying an additional 8,498 shares during the last quarter. Strs Ohio raised its position in NuVasive by 10.8% in the first quarter. Strs Ohio now owns 7,200 shares of the medical device company’s stock valued at $537,000 after buying an additional 700 shares during the last quarter. Profit Investment Management LLC raised its position in NuVasive by 28.3% in the first quarter. Profit Investment Management LLC now owns 44,738 shares of the medical device company’s stock valued at $3,341,000 after buying an additional 9,871 shares during the last quarter. Sawgrass Asset Management LLC acquired a new position in NuVasive during the first quarter valued at approximately $745,000. Finally, Glen Harbor Capital Management LLC raised its position in NuVasive by 18.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,134 shares of the medical device company’s stock valued at $159,000 after buying an additional 330 shares during the last quarter.
NuVasive Company Profile
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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