NuVasive, Inc. (NUVA) Stock Rating Lowered by Needham & Company LLC
NuVasive, Inc. (NASDAQ:NUVA) was downgraded by stock analysts at Needham & Company LLC from a “hold” rating to an “underperform” rating in a research report issued to clients and investors on Monday.
A number of other research analysts have also recently weighed in on the stock. Royal Bank Of Canada reiterated a “buy” rating and set a $85.00 price objective on shares of NuVasive in a research report on Monday, August 21st. Piper Jaffray Companies reissued an “overweight” rating and set a $90.00 target price on shares of NuVasive in a research note on Wednesday, August 9th. Barclays PLC reaffirmed a “buy” rating and issued a $80.00 price objective on shares of NuVasive in a research note on Wednesday, August 2nd. Gabelli reaffirmed a “buy” rating on shares of NuVasive in a research note on Monday, July 31st. Finally, BidaskClub lowered shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $81.18.
Shares of NuVasive (NASDAQ NUVA) opened at 61.64 on Monday. The firm has a market cap of $3.13 billion, a price-to-earnings ratio of 97.07 and a beta of 1.06. The firm has a 50-day moving average of $70.61 and a 200-day moving average of $73.61. NuVasive has a 12 month low of $56.70 and a 12 month high of $81.68.
NuVasive (NASDAQ:NUVA) last released its earnings results on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The firm had revenue of $260.60 million for the quarter, compared to the consensus estimate of $261.95 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, analysts anticipate that NuVasive will post $2.00 EPS for the current year.
In related news, EVP Peter Michael Leddy bought 7,850 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $63.88 per share, with a total value of $501,458.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Lesley H. Howe sold 3,970 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $64.64, for a total value of $256,620.80. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NUVA. Navellier & Associates Inc raised its position in shares of NuVasive by 5.2% in the second quarter. Navellier & Associates Inc now owns 74,387 shares of the medical device company’s stock worth $5,722,000 after buying an additional 3,696 shares in the last quarter. Broadfin Capital LLC bought a new stake in shares of NuVasive during the second quarter valued at about $4,300,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of NuVasive during the second quarter valued at about $501,000. Public Employees Retirement System of Ohio increased its stake in shares of NuVasive by 68.3% in the second quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock valued at $8,874,000 after buying an additional 46,805 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its stake in shares of NuVasive by 4.3% in the second quarter. Disciplined Growth Investors Inc. MN now owns 70,657 shares of the medical device company’s stock valued at $5,435,000 after buying an additional 2,922 shares in the last quarter.
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
Receive News & Stock Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related stocks with our FREE daily email newsletter.