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.

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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.

About NuVasive

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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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