A number of other analysts have also recently weighed in on the stock. Morgan Stanley raised their target price on shares of NuVasive from $73.00 to $82.00 and gave the stock an equal weight rating in a report on Tuesday, December 17th. Leerink Swann raised shares of NuVasive from a market perform rating to a buy rating and set a $92.00 price objective for the company in a research note on Friday, December 13th. Robert W. Baird raised their price objective on shares of NuVasive from $74.00 to $82.00 and gave the stock a neutral rating in a research note on Tuesday, January 14th. Credit Suisse Group raised their price objective on shares of NuVasive from $76.00 to $87.00 and gave the stock an outperform rating in a research note on Wednesday, January 8th. Finally, Svb Leerink raised shares of NuVasive from a market perform rating to an outperform rating and raised their price objective for the stock from $72.00 to $92.00 in a research note on Friday, December 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. NuVasive presently has an average rating of Hold and an average price target of $76.47.
NASDAQ:NUVA traded down $1.27 during trading hours on Friday, reaching $78.10. 593,247 shares of the company’s stock were exchanged, compared to its average volume of 396,567. The company has a market capitalization of $4.13 billion, a P/E ratio of 85.82, a price-to-earnings-growth ratio of 2.35 and a beta of 1.19. NuVasive has a 12 month low of $45.60 and a 12 month high of $81.91. The company has a quick ratio of 2.08, a current ratio of 3.68 and a debt-to-equity ratio of 0.79. The business’s 50-day simple moving average is $76.63 and its two-hundred day simple moving average is $67.60.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Wednesday, October 30th. The medical device company reported $0.59 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.06. The firm had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $283.75 million. NuVasive had a net margin of 4.15% and a return on equity of 14.93%. The firm’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. As a group, sell-side analysts anticipate that NuVasive will post 2.38 earnings per share for the current fiscal year.
In other NuVasive news, insider Paul Mcclintock sold 3,314 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $72.04, for a total value of $238,740.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gregory T. Lucier sold 29,469 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $72.99, for a total transaction of $2,150,942.31. The disclosure for this sale can be found here. 0.97% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the business. Bank of Montreal Can raised its holdings in shares of NuVasive by 27.5% during the 2nd quarter. Bank of Montreal Can now owns 7,186 shares of the medical device company’s stock valued at $420,000 after purchasing an additional 1,550 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of NuVasive during the 2nd quarter valued at $1,674,000. Parametric Portfolio Associates LLC raised its holdings in shares of NuVasive by 0.9% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 70,814 shares of the medical device company’s stock valued at $4,145,000 after purchasing an additional 616 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of NuVasive by 322.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 888 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 678 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of NuVasive by 0.6% during the 2nd quarter. Vanguard Group Inc. now owns 4,886,110 shares of the medical device company’s stock valued at $286,033,000 after purchasing an additional 30,250 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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