NuVasive (NASDAQ:NUVA) Price Target Increased to $68.00 by Analysts at BMO Capital Markets

NuVasive (NASDAQ:NUVA) had its target price boosted by BMO Capital Markets from $54.00 to $68.00 in a report issued on Friday, The Fly reports. They currently have a market perform rating on the medical device company’s stock.

A number of other equities analysts have also issued reports on the company. BTIG Research reaffirmed a buy rating and issued a $65.00 target price on shares of NuVasive in a research report on Monday, July 1st. Cantor Fitzgerald reaffirmed a hold rating and issued a $61.00 target price on shares of NuVasive in a research report on Thursday, May 2nd. BidaskClub raised NuVasive from a sell rating to a hold rating in a research report on Friday, July 19th. Zacks Investment Research raised NuVasive from a hold rating to a buy rating and set a $59.00 target price on the stock in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada set a $70.00 target price on NuVasive and gave the company a buy rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. NuVasive currently has an average rating of Hold and a consensus price target of $66.14.

NuVasive stock traded up $0.23 during midday trading on Friday, hitting $66.07. 349,536 shares of the company were exchanged, compared to its average volume of 452,008. The stock has a fifty day simple moving average of $59.35. The company has a market cap of $3.40 billion, a P/E ratio of 29.63, a PEG ratio of 2.21 and a beta of 1.14. The company has a current ratio of 3.60, a quick ratio of 1.99 and a debt-to-equity ratio of 0.79. NuVasive has a fifty-two week low of $43.51 and a fifty-two week high of $72.41.

NuVasive (NASDAQ:NUVA) last announced its earnings results on Tuesday, July 30th. The medical device company reported $0.63 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.07. NuVasive had a return on equity of 15.09% and a net margin of 4.65%. The company had revenue of $292.11 million for the quarter, compared to analyst estimates of $290.59 million. During the same period in the prior year, the company posted $0.58 EPS. NuVasive’s quarterly revenue was up 3.7% on a year-over-year basis. On average, sell-side analysts predict that NuVasive will post 2.32 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Royce & Associates LP increased its holdings in shares of NuVasive by 35.1% in the 1st quarter. Royce & Associates LP now owns 678 shares of the medical device company’s stock valued at $39,000 after acquiring an additional 176 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of NuVasive in the 2nd quarter valued at approximately $45,000. Westside Investment Management Inc. bought a new stake in shares of NuVasive in the 2nd quarter valued at approximately $87,000. Knott David M bought a new stake in shares of NuVasive in the 1st quarter valued at approximately $114,000. Finally, Rockefeller Capital Management L.P. increased its holdings in shares of NuVasive by 251.2% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock valued at $114,000 after acquiring an additional 1,432 shares during 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 products include 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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