Brokerages Set NuVasive, Inc. (NASDAQ:NUVA) Target Price at $67.42

Shares of NuVasive, Inc. (NASDAQ:NUVA) have earned a consensus recommendation of “Hold” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $67.92.

NUVA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded NuVasive from a “sell” rating to a “buy” rating and set a $74.00 target price on the stock in a research report on Friday, November 1st. ValuEngine cut NuVasive from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. UBS Group lifted their target price on NuVasive from $51.00 to $55.00 and gave the company a “sell” rating in a research report on Monday, September 9th. BidaskClub upgraded NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada lifted their target price on NuVasive to $74.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th.

Shares of NASDAQ NUVA opened at $73.78 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.08 and a current ratio of 3.68. NuVasive has a 52 week low of $43.51 and a 52 week high of $75.07. The stock has a market capitalization of $3.87 billion, a P/E ratio of 33.09, a PEG ratio of 2.46 and a beta of 1.17. The stock’s fifty day moving average is $71.25 and its 200 day moving average is $64.10.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Wednesday, October 30th. The medical device company reported $0.59 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. NuVasive had a return on equity of 14.93% and a net margin of 4.15%. The company had revenue of $290.80 million for the quarter, compared to analysts’ expectations of $283.75 million. During the same quarter last year, the business earned $0.56 earnings per share. NuVasive’s revenue was up 7.2% on a year-over-year basis. Equities research analysts forecast that NuVasive will post 2.37 earnings per share for the current year.

In other news, Director Gregory T. Lucier sold 29,469 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $72.99, for a total transaction of $2,150,942.31. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Paul Mcclintock sold 3,314 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $72.04, for a total value of $238,740.56. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NUVA. Arizona State Retirement System grew its holdings in shares of NuVasive by 1.6% during the second quarter. Arizona State Retirement System now owns 37,658 shares of the medical device company’s stock worth $2,204,000 after purchasing an additional 580 shares during the last quarter. Strs Ohio lifted its stake in shares of NuVasive by 26.3% in the second quarter. Strs Ohio now owns 4,800 shares of the medical device company’s stock worth $280,000 after acquiring an additional 1,000 shares during the period. SG Americas Securities LLC lifted its stake in shares of NuVasive by 223.9% in the second quarter. SG Americas Securities LLC now owns 33,433 shares of the medical device company’s stock worth $1,957,000 after acquiring an additional 23,110 shares during the period. Boston Advisors LLC lifted its stake in shares of NuVasive by 15.4% in the second quarter. Boston Advisors LLC now owns 26,530 shares of the medical device company’s stock worth $1,553,000 after acquiring an additional 3,547 shares during the period. Finally, AGF Investments LLC lifted its stake in shares of NuVasive by 43.3% in the second quarter. AGF Investments LLC now owns 5,502 shares of the medical device company’s stock worth $322,000 after acquiring an additional 1,662 shares during the period. Institutional investors own 98.84% of the company’s stock.

NuVasive Company Profile

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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