NuVasive (NUVA) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of NuVasive (NASDAQ:NUVA) from a sell rating to a hold rating in a report issued on Friday morning.

A number of other brokerages also recently weighed in on NUVA. Royal Bank of Canada restated a buy rating and issued a $85.00 target price on shares of NuVasive in a research note on Monday, August 21st. Needham & Company LLC downgraded NuVasive from a hold rating to an underperform rating in a research note on Monday, August 28th. BTIG Research assumed coverage on NuVasive in a research note on Thursday, September 7th. They issued a buy rating and a $82.00 target price on the stock. BMO Capital Markets restated a buy rating and issued a $70.00 target price on shares of NuVasive in a research note on Thursday. Finally, Cowen restated an outperform rating and issued a $83.00 target price on shares of NuVasive in a research note on Monday, September 18th. 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 stock. NuVasive has an average rating of Buy and a consensus target price of $72.43.

NuVasive (NASDAQ:NUVA) traded up $1.21 during mid-day trading on Friday, reaching $60.79. The company’s stock had a trading volume of 928,267 shares, compared to its average volume of 576,515. The firm has a market cap of $3,036.67, a P/E ratio of 31.52, a P/E/G ratio of 2.12 and a beta of 0.77. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. NuVasive has a fifty-two week low of $49.25 and a fifty-two week high of $81.68.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The business had revenue of $247.40 million during the quarter, compared to the consensus estimate of $255.70 million. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. equities research analysts expect that NuVasive will post 1.91 earnings per share for the current year.

NuVasive declared that its board has authorized a stock repurchase program on Tuesday, October 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the medical device company to buy shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NuVasive by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock worth $146,000 after purchasing an additional 158 shares during the period. Howard Hughes Medical Institute increased its holdings in shares of NuVasive by 82.8% in the second quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock worth $159,000 after purchasing an additional 936 shares during the period. Zions Bancorporation bought a new position in shares of NuVasive in the third quarter worth $160,000. Shelton Capital Management bought a new position in shares of NuVasive in the second quarter worth $221,000. Finally, Verition Fund Management LLC purchased a new position in NuVasive in the second quarter worth $233,000.

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About NuVasive

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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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