NuVasive (NUVA) Cut to “Buy” at BidaskClub

NuVasive (NASDAQ:NUVA) was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

NUVA has been the topic of several other reports. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price objective (up from $67.00) on shares of NuVasive in a research report on Wednesday, October 17th. Morgan Stanley cut their price objective on shares of NuVasive from $77.00 to $73.00 and set a “hold” rating on the stock in a research report on Wednesday, October 31st. BMO Capital Markets cut their price objective on shares of NuVasive from $70.00 to $68.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 31st. Piper Jaffray Companies boosted their price target on shares of NuVasive to $75.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 14th. Finally, Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $66.82.

Shares of NASDAQ:NUVA opened at $57.86 on Friday. The stock has a market capitalization of $3.05 billion, a P/E ratio of 30.29, a PEG ratio of 1.78 and a beta of 0.80. NuVasive has a fifty-two week low of $44.62 and a fifty-two week high of $72.41. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.83 and a current ratio of 3.45.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.06). The firm had revenue of $271.30 million during the quarter, compared to the consensus estimate of $265.70 million. NuVasive had a net margin of 2.24% and a return on equity of 13.87%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share. On average, research analysts expect that NuVasive will post 2.18 earnings per share for the current fiscal year.

In other NuVasive news, insider Matthew Link sold 1,200 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $62.01, for a total transaction of $74,412.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 8,671 shares of company stock worth $538,741 over the last 90 days. 1.20% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of NuVasive by 2.3% in the 3rd quarter. Vanguard Group Inc. now owns 4,660,775 shares of the medical device company’s stock worth $330,822,000 after purchasing an additional 103,225 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of NuVasive by 81.4% in the 3rd quarter. Glenmede Trust Co. NA now owns 450,913 shares of the medical device company’s stock worth $32,005,000 after purchasing an additional 202,360 shares in the last quarter. Macquarie Group Ltd. raised its holdings in shares of NuVasive by 27.0% in the 3rd quarter. Macquarie Group Ltd. now owns 700,970 shares of the medical device company’s stock worth $49,755,000 after purchasing an additional 148,869 shares in the last quarter. Sector Gamma AS raised its holdings in shares of NuVasive by 5.2% in the 3rd quarter. Sector Gamma AS now owns 395,223 shares of the medical device company’s stock worth $28,053,000 after purchasing an additional 19,416 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in shares of NuVasive by 18.3% in the 3rd quarter. MetLife Investment Advisors LLC now owns 66,122 shares of the medical device company’s stock worth $4,693,000 after purchasing an additional 10,216 shares in the last quarter.

About NuVasive

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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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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