NuVasive, Inc. (NASDAQ:NUVA) Receives $67.42 Average Target Price from Analysts

NuVasive, Inc. (NASDAQ:NUVA) has been assigned an average rating of “Hold” from the sixteen ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $67.42.

NUVA has been the subject of a number of research analyst reports. BidaskClub raised NuVasive from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Zacks Investment Research raised NuVasive from a “sell” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Friday, November 1st. ValuEngine cut NuVasive from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. BMO Capital Markets boosted their target price on NuVasive from $54.00 to $68.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Finally, Morgan Stanley boosted their target price on NuVasive from $57.00 to $67.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 31st.

NASDAQ:NUVA traded down $0.07 on Thursday, reaching $72.52. The company’s stock had a trading volume of 657,300 shares, compared to its average volume of 557,201. NuVasive has a 1-year low of $43.51 and a 1-year high of $73.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 2.08 and a current ratio of 3.68. The firm has a market cap of $3.82 billion, a PE ratio of 32.52, a PEG ratio of 2.83 and a beta of 1.18. The business’s 50-day moving average price is $67.30 and its two-hundred day moving average price is $62.84.

NuVasive (NASDAQ:NUVA) last posted its earnings results on Wednesday, October 30th. The medical device company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. NuVasive had a return on equity of 14.93% and a net margin of 4.15%. The firm had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $283.75 million. During the same period in the previous year, the firm earned $0.56 earnings per share. The company’s revenue was up 7.2% on a year-over-year basis. As a group, sell-side analysts expect that NuVasive will post 2.37 EPS for the current year.

In other news, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.97% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Lisanti Capital Growth LLC bought a new stake in shares of NuVasive in the third quarter valued at about $2,219,000. TimesSquare Capital Management LLC bought a new stake in shares of NuVasive in the third quarter valued at about $15,313,000. Eqis Capital Management Inc. bought a new stake in shares of NuVasive in the third quarter valued at about $276,000. Boston Advisors LLC lifted its holdings in shares of NuVasive by 48.7% in the third quarter. Boston Advisors LLC now owns 39,438 shares of the medical device company’s stock valued at $2,500,000 after purchasing an additional 12,908 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of NuVasive by 71.6% in the third quarter. Tower Research Capital LLC TRC now owns 1,524 shares of the medical device company’s stock valued at $97,000 after purchasing an additional 636 shares in the last quarter. 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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