NuVasive, Inc. (NASDAQ:NUVA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

NuVasive, Inc. (NASDAQ:NUVAGet Rating) has earned an average rating of “Moderate Buy” from the fourteen brokerages that are currently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $51.62.

Several equities research analysts recently commented on the company. StockNews.com assumed coverage on NuVasive in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Barclays started coverage on NuVasive in a research note on Monday, October 17th. They issued an “overweight” rating and a $53.00 target price on the stock. Robert W. Baird reduced their price target on NuVasive to $46.00 in a research report on Tuesday, November 15th. Canaccord Genuity Group lifted their price target on NuVasive from $50.00 to $55.00 in a research report on Friday, August 5th. Finally, Citigroup reduced their target price on NuVasive from $65.00 to $63.00 in a research report on Wednesday, October 5th.

NuVasive Price Performance

Shares of NUVA opened at $37.63 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.72 and a debt-to-equity ratio of 0.53. The stock has a 50 day simple moving average of $41.58 and a 200 day simple moving average of $47.37. NuVasive has a 52-week low of $35.17 and a 52-week high of $60.47.

NuVasive (NASDAQ:NUVAGet Rating) last announced its quarterly earnings data on Wednesday, November 9th. The medical device company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $295.30 million for the quarter, compared to analysts’ expectations of $298.76 million. NuVasive had a positive return on equity of 12.49% and a negative net margin of 1.70%. The business’s revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.32 EPS. On average, sell-side analysts forecast that NuVasive will post 2.04 EPS for the current fiscal year.

Institutional Investors Weigh In On NuVasive

A number of institutional investors and hedge funds have recently bought and sold shares of NUVA. Strs Ohio bought a new stake in NuVasive during the second quarter valued at about $73,000. Point72 Hong Kong Ltd grew its position in shares of NuVasive by 28.3% during the first quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 297 shares in the last quarter. Pacer Advisors Inc. purchased a new position in shares of NuVasive during the third quarter valued at about $105,000. Captrust Financial Advisors grew its position in shares of NuVasive by 85.7% during the first quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company’s stock valued at $120,000 after purchasing an additional 973 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of NuVasive by 76.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,175 shares of the medical device company’s stock valued at $123,000 after purchasing an additional 942 shares in the last quarter.

NuVasive Company Profile

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NuVasive, Inc, a medical technology company, develops, manufactures, and sells procedural solutions for spine surgery. It provides surgical access instruments, including Maxcess integrated split-blade retractor system that enable less-invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by enhancing the osseointegration and biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and fixation system that facilitates the preservation and restoration of patient alignment.

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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