NuVasive, Inc. (NUVA) Reaches New 12-Month Low at $51.04

NuVasive, Inc. (NASDAQ:NUVA)’s share price reached a new 52-week low during trading on Wednesday . The stock traded as low as $51.04 and last traded at $50.85, with a volume of 1,544,260 shares. The stock had previously closed at $53.73.

Several equities analysts recently commented on the company. Royal Bank Of Canada reissued a “buy” rating and set a $75.00 price target on shares of NuVasive in a research report on Tuesday. BTIG Research restated a “buy” rating and set a $74.00 price objective (down from $82.00) on shares of NuVasive in a report on Wednesday, October 4th. Morgan Stanley restated an “equal weight” rating and set a $70.00 price objective (down from $81.00) on shares of NuVasive in a report on Friday, October 6th. Gabelli restated a “buy” rating on shares of NuVasive in a report on Monday, July 31st. Finally, Piper Jaffray Companies restated a “buy” rating and set a $90.00 price objective on shares of NuVasive in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $77.92.

The firm’s 50 day moving average price is $58.22 and its 200 day moving average price is $69.85. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 81.48 and a beta of 1.03.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 EPS 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 the consensus estimate of $261.95 million. During the same quarter last year, the company earned $0.40 EPS. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Analysts predict that NuVasive, Inc. will post $1.99 earnings per share for the current fiscal year.

In other news, Director Lesley H. Howe sold 3,970 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $64.64, for a total value of $256,620.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gregory T. Lucier bought 2,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. Insiders acquired a total of 14,850 shares of company stock valued at $955,598 in the last quarter. Corporate insiders own 1.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Navellier & Associates Inc raised its holdings in shares of NuVasive by 5.2% in the 2nd quarter. Navellier & Associates Inc now owns 74,387 shares of the medical device company’s stock worth $5,722,000 after buying an additional 3,696 shares in the last quarter. Broadfin Capital LLC acquired a new position in shares of NuVasive in the 2nd quarter worth approximately $4,300,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of NuVasive in the 2nd quarter worth approximately $501,000. Public Employees Retirement System of Ohio raised its holdings in shares of NuVasive by 68.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock worth $8,874,000 after buying an additional 46,805 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its holdings in shares of NuVasive by 4.3% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 70,657 shares of the medical device company’s stock worth $5,435,000 after buying an additional 2,922 shares in the last quarter.

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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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