NuVasive, Inc. (NUVA) Receives $66.80 Consensus Target Price from Brokerages

Shares of NuVasive, Inc. (NASDAQ:NUVA) have been assigned an average rating of “Buy” from the twenty ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $66.80.

Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of NuVasive from a “buy” rating to a “hold” rating in a report on Saturday. Goldman Sachs assumed coverage on shares of NuVasive in a report on Wednesday, April 4th. They issued a “neutral” rating and a $47.00 target price for the company. Leerink Swann lifted their price objective on shares of NuVasive from $51.00 to $52.00 and gave the company a “market perform” rating in a report on Tuesday, February 27th. ValuEngine lowered shares of NuVasive from a “hold” rating to a “sell” rating in a report on Thursday, March 1st. Finally, Robert W. Baird reiterated a “hold” rating and set a $55.00 price objective on shares of NuVasive in a report on Tuesday, February 27th.

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In other NuVasive news, CEO Gregory T. Lucier bought 6,000 shares of the business’s stock in a transaction on Tuesday, March 6th. The shares were acquired at an average price of $50.30 per share, with a total value of $301,800.00. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.95% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Westside Investment Management Inc. increased its position in NuVasive by 76.0% during the 4th quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock valued at $147,000 after purchasing an additional 1,140 shares during the period. Baird Financial Group Inc. purchased a new position in NuVasive during the 4th quarter valued at about $205,000. Xact Kapitalforvaltning AB purchased a new position in NuVasive during the 4th quarter valued at about $293,000. Meadow Creek Investment Management LLC increased its position in NuVasive by 22.0% during the 4th quarter. Meadow Creek Investment Management LLC now owns 7,344 shares of the medical device company’s stock valued at $429,000 after purchasing an additional 1,326 shares during the period. Finally, ING Groep NV increased its position in NuVasive by 23.6% during the 4th quarter. ING Groep NV now owns 7,691 shares of the medical device company’s stock valued at $450,000 after purchasing an additional 1,469 shares during the period.

NUVA stock traded up $0.10 during trading on Wednesday, hitting $52.99. 21,982 shares of the company’s stock traded hands, compared to its average volume of 896,622. The firm has a market capitalization of $2,711.03, a P/E ratio of 27.69, a price-to-earnings-growth ratio of 1.41 and a beta of 0.38. The company has a quick ratio of 1.94, a current ratio of 3.48 and a debt-to-equity ratio of 0.73. NuVasive has a 52 week low of $44.62 and a 52 week high of $81.68.

NuVasive (NASDAQ:NUVA) last released its earnings results on Monday, February 26th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $271.70 million during the quarter, compared to analyst estimates of $272.11 million. NuVasive had a net margin of 8.06% and a return on equity of 13.40%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.53 EPS. analysts anticipate that NuVasive will post 2.46 EPS for the current year.

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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 product is 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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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