NuVasive, Inc. (NASDAQ:NUVA) Stock Rating Reaffirmed by Cowen and Company

NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Cowen and Company in a research report issued on Sunday, July 30th. They presently have a $83.00 price target on the medical device company’s stock, down from their prior price target of $90.00. Cowen and Company’s price objective points to a potential upside of 29.57% from the company’s current price.

A number of other research firms have also weighed in on NUVA. Robert W. Baird lowered shares of NuVasive from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $79.00 to $72.00 in a research report on Friday, July 28th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $85.00 price target on shares of NuVasive in a research report on Thursday, July 20th. BidaskClub raised shares of NuVasive from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Piper Jaffray Companies upped their price target on shares of NuVasive from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, June 12th. Finally, Zacks Investment Research raised shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Thursday, April 27th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $81.18.

NuVasive (NUVA) traded down 2.84% during mid-day trading on Friday, reaching $64.06. 1,061,123 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $72.27 and its 200 day moving average is $73.89. NuVasive has a 1-year low of $56.70 and a 1-year high of $81.68. The stock has a market capitalization of $3.25 billion, a PE ratio of 100.88 and a beta of 1.06.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $260.60 million during the quarter, compared to analyst estimates of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Analysts forecast that NuVasive will post $2.00 earnings per share for the current fiscal year.

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In other NuVasive news, EVP Peter Michael Leddy bought 7,850 shares of the company’s stock in a transaction on Tuesday, August 1st. The shares were bought at an average cost of $63.88 per share, with a total value of $501,458.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory T. Lucier bought 5,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were acquired at an average cost of $66.22 per share, for a total transaction of $331,100.00. The disclosure for this purchase can be found here. Corporate insiders own 4.70% of the company’s stock.

Several hedge funds have recently modified their holdings of NUVA. Vanguard Group Inc. boosted its stake in NuVasive by 1.3% in the second quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after buying an additional 53,769 shares during the period. Champlain Investment Partners LLC boosted its stake in NuVasive by 2.3% in the first quarter. Champlain Investment Partners LLC now owns 1,908,280 shares of the medical device company’s stock worth $142,510,000 after buying an additional 42,395 shares during the period. State Street Corp boosted its stake in NuVasive by 4.2% in the second quarter. State Street Corp now owns 1,710,341 shares of the medical device company’s stock worth $131,562,000 after buying an additional 68,344 shares during the period. Voya Investment Management LLC boosted its stake in NuVasive by 43.7% in the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after buying an additional 517,115 shares during the period. Finally, Eagle Asset Management Inc. boosted its stake in NuVasive by 10.4% in the first quarter. Eagle Asset Management Inc. now owns 1,428,644 shares of the medical device company’s stock worth $106,691,000 after buying an additional 134,729 shares during the period.

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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