Investment Analysts’ Recent Ratings Updates for NuVasive (NUVA)

NuVasive (NASDAQ: NUVA) recently received a number of ratings updates from brokerages and research firms:

  • 8/9/2019 – NuVasive had its price target raised by analysts at BMO Capital Markets from $54.00 to $68.00. They now have a “market perform” rating on the stock.
  • 8/9/2019 – NuVasive was given a new $75.00 price target on by analysts at Cowen Inc. They now have a “buy” rating on the stock.
  • 8/9/2019 – NuVasive was given a new $71.00 price target on by analysts at BTIG Research. They now have a “buy” rating on the stock.
  • 8/8/2019 – NuVasive had its “hold” rating reaffirmed by analysts at Needham & Company LLC.
  • 8/7/2019 – NuVasive was given a new $70.00 price target on by analysts at Royal Bank of Canada. They now have a “buy” rating on the stock.
  • 8/1/2019 – NuVasive was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 7/31/2019 – NuVasive had its price target raised by analysts at Morgan Stanley from $57.00 to $67.00. They now have an “equal weight” rating on the stock.
  • 7/31/2019 – NuVasive was given a new $72.00 price target on by analysts at Piper Jaffray Companies. They now have a “buy” rating on the stock.
  • 7/31/2019 – NuVasive was given a new $70.00 price target on by analysts at Royal Bank of Canada. They now have a “buy” rating on the stock.
  • 7/31/2019 – NuVasive was upgraded by analysts at TheStreet from a “c+” rating to a “b” rating.
  • 7/29/2019 – NuVasive was downgraded by analysts at Robert W. Baird from an “outperform” rating to a “neutral” rating. They now have a $66.00 price target on the stock.
  • 7/19/2019 – NuVasive was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/10/2019 – NuVasive was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $59.00 price target on the stock. According to Zacks, “NuVasive witnessed balanced revenue growth across all of its key operating segments. Robust sales in the international markets buoy optimism. We are also upbeat about the company having witnessed sturdy demand across an array of recent products launches within the U.S. Spinal Hardware business viz. the TLX 20 Degree expandable cage. On the flip side, the Biologics business performance was disappointing. Headwinds like pricing pressure, reimbursement issues and a competitive landscape are major downsides for NuVasive. In the past six months, NuVasive has outperformed its industry. “
  • 7/9/2019 – NuVasive was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/1/2019 – NuVasive had its “buy” rating reaffirmed by analysts at BTIG Research. They now have a $65.00 price target on the stock.

NUVA traded down $0.76 during mid-day trading on Thursday, reaching $64.79. 1,664 shares of the company traded hands, compared to its average volume of 535,799. The stock has a market capitalization of $3.44 billion, a P/E ratio of 29.05, a P/E/G ratio of 2.17 and a beta of 1.14. The company has a quick ratio of 1.99, a current ratio of 3.60 and a debt-to-equity ratio of 0.79. The company’s fifty day moving average price is $61.05 and its 200-day moving average price is $58.64. NuVasive, Inc. has a 52-week low of $43.51 and a 52-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 for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. The business had revenue of $292.11 million during the quarter, compared to analyst estimates of $290.59 million. NuVasive had a net margin of 4.65% and a return on equity of 15.09%. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.58 EPS. As a group, sell-side analysts forecast that NuVasive, Inc. will post 2.32 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System raised its stake in NuVasive by 0.5% during the 1st quarter. Arizona State Retirement System now owns 37,078 shares of the medical device company’s stock valued at $2,106,000 after buying an additional 170 shares during the last quarter. Royce & Associates LP raised its stake in NuVasive by 35.1% during the 1st quarter. Royce & Associates LP now owns 678 shares of the medical device company’s stock valued at $39,000 after buying an additional 176 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in shares of NuVasive by 1.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,550 shares of the medical device company’s stock worth $559,000 after purchasing an additional 180 shares in the last quarter. Zions Bancorporation N.A. increased its stake in shares of NuVasive by 6.1% in the 2nd quarter. Zions Bancorporation N.A. now owns 3,280 shares of the medical device company’s stock worth $192,000 after purchasing an additional 190 shares in the last quarter. Finally, Retirement Systems of Alabama increased its stake in shares of NuVasive by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 67,488 shares of the medical device company’s stock worth $3,951,000 after purchasing an additional 270 shares in the last quarter. Institutional investors and hedge funds own 98.33% of the company’s stock.

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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