NuVasive, Inc. (NUVA) Receives Average Rating of “Buy” from Brokerages

NuVasive, Inc. (NASDAQ:NUVA) has earned a consensus rating of “Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $81.18.

A number of equities analysts have recently weighed in on NUVA shares. Barclays PLC boosted their price target on NuVasive from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, April 24th. Canaccord Genuity reissued a “buy” rating and issued a $84.00 price target (up from $82.00) on shares of NuVasive in a report on Wednesday, April 26th. Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a report on Thursday, April 27th. TheStreet raised NuVasive from a “c+” rating to a “b” rating in a report on Wednesday, May 3rd. Finally, Royal Bank Of Canada reissued a “buy” rating and issued a $76.00 price target on shares of NuVasive in a report on Monday, May 15th.

Shares of NuVasive (NASDAQ NUVA) traded down 0.57% during mid-day trading on Friday, reaching $67.61. The company’s stock had a trading volume of 919,429 shares. The firm has a market capitalization of $3.43 billion, a P/E ratio of 106.47 and a beta of 1.06. NuVasive has a 1-year low of $56.70 and a 1-year high of $81.68. The company’s 50-day moving average is $73.23 and its 200 day moving average is $74.03.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $261.95 million. During the same period in the previous year, the firm posted $0.40 earnings per share. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, analysts expect that NuVasive will post $2.00 earnings per share for the current year.

In other NuVasive news, EVP Peter Michael Leddy bought 7,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $63.88 per share, for a total transaction of $501,458.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 4.70% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Westside Investment Management Inc. acquired a new position in NuVasive during the first quarter valued at approximately $109,000. FNY Partners Fund LP purchased a new stake in NuVasive during the first quarter worth about $112,000. Neuburgh Advisers LLC increased its stake in NuVasive by 18.3% in the first quarter. Neuburgh Advisers LLC now owns 1,552 shares of the medical device company’s stock worth $116,000 after buying an additional 240 shares during the period. SpiderRock Advisors LLC purchased a new stake in NuVasive during the first quarter worth about $124,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in 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 buying an additional 158 shares during the period.

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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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