NuVasive (NASDAQ:NUVA) Given “Buy” Rating at Credit Suisse Group

Credit Suisse Group reissued their buy rating on shares of NuVasive (NASDAQ:NUVA) in a report published on Friday, TipRanks reports. The brokerage currently has a $74.00 price objective on the medical device company’s stock.

Other research analysts have also issued research reports about the company. Robert W. Baird raised NuVasive from a neutral rating to an outperform rating in a research report on Sunday, April 19th. UBS Group reduced their price objective on NuVasive from $65.00 to $55.00 and set a sell rating for the company in a research report on Thursday, May 7th. Canaccord Genuity reduced their price objective on NuVasive from $68.00 to $64.00 and set a buy rating for the company in a research report on Thursday, May 7th. Cantor Fitzgerald raised their price objective on NuVasive from $68.00 to $85.00 and gave the company a neutral rating in a research report on Friday, February 21st. Finally, Piper Sandler reduced their price objective on NuVasive from $90.00 to $75.00 and set an overweight rating for the company in a research report on Thursday, May 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $70.06.

Shares of NASDAQ:NUVA opened at $60.60 on Friday. NuVasive has a 52-week low of $28.55 and a 52-week high of $81.91. The firm has a market capitalization of $3.11 billion, a P/E ratio of 24.94, a P/E/G ratio of 6.32 and a beta of 1.41. The stock has a 50 day moving average price of $59.13 and a 200-day moving average price of $66.29. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.35.

NuVasive (NASDAQ:NUVA) last announced its earnings results on Wednesday, May 6th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. NuVasive had a return on equity of 14.42% and a net margin of 5.30%. The firm had revenue of $259.88 million during the quarter, compared to analyst estimates of $262.32 million. During the same quarter in the prior year, the company earned $0.53 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. On average, equities analysts forecast that NuVasive will post 0.71 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in NUVA. Norges Bank purchased a new position in shares of NuVasive in the 4th quarter worth $76,528,000. Lord Abbett & CO. LLC purchased a new position in shares of NuVasive in the 1st quarter worth $44,332,000. Loomis Sayles & Co. L P purchased a new position in shares of NuVasive in the 1st quarter worth $19,269,000. Ziegler Capital Management LLC purchased a new position in shares of NuVasive in the 1st quarter worth $10,374,000. Finally, Panagora Asset Management Inc. boosted its stake in shares of NuVasive by 178.0% in the 4th quarter. Panagora Asset Management Inc. now owns 210,682 shares of the medical device company’s stock worth $16,294,000 after buying an additional 134,904 shares during the last quarter.

About NuVasive

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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