NuVasive, Inc. (NUVA) Now Covered by BTIG Research
Investment analysts at BTIG Research initiated coverage on shares of NuVasive, Inc. (NASDAQ:NUVA) in a research report issued on Thursday. The brokerage set a “buy” rating and a $82.00 price target on the medical device company’s stock. BTIG Research’s price target would suggest a potential upside of 33.55% from the stock’s previous close.
A number of other research firms have also recently weighed in on NUVA. Cowen and Company reaffirmed an “outperform” rating and set a $90.00 price target (up previously from $85.00) on shares of NuVasive in a report on Wednesday, June 28th. Robert W. Baird cut NuVasive from an “outperform” rating to a “neutral” rating and cut their price target for the company from $79.00 to $72.00 in a report on Friday, July 28th. Gabelli reissued a “buy” rating on shares of NuVasive in a report on Monday, July 31st. Royal Bank Of Canada reissued a “buy” rating and set a $85.00 target price on shares of NuVasive in a report on Thursday, July 20th. Finally, Zacks Investment Research cut NuVasive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. NuVasive currently has an average rating of “Buy” and an average price target of $81.25.
NuVasive (NASDAQ NUVA) opened at 61.40 on Thursday. NuVasive has a 52-week low of $56.70 and a 52-week high of $81.68. The firm’s 50-day moving average price is $66.12 and its 200 day moving average price is $72.86. The firm has a market cap of $3.12 billion, a PE ratio of 96.69 and a beta of 1.08.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. On average, equities analysts anticipate that NuVasive will post $2.00 earnings per share for the current year.
In other NuVasive news, CEO Gregory T. Lucier purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were purchased at an average price of $61.52 per share, for a total transaction of $123,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Michael Leddy purchased 7,850 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average price of $63.88 per share, for a total transaction of $501,458.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 14,850 shares of company stock worth $955,598. 1.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NUVA. Koch Industries Inc. grew its position in NuVasive by 26,406.7% during the 2nd quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after purchasing an additional 978,631 shares in the last quarter. Voya Investment Management LLC grew its position in NuVasive by 43.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after purchasing an additional 517,115 shares in the last quarter. OppenheimerFunds Inc. grew its position in NuVasive by 55.8% during the 1st quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock worth $90,438,000 after purchasing an additional 433,506 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in NuVasive by 118.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after purchasing an additional 296,715 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in NuVasive by 70.8% during the 1st quarter. Victory Capital Management Inc. now owns 715,321 shares of the medical device company’s stock worth $53,420,000 after purchasing an additional 296,568 shares in the last quarter.
NuVasive Company Profile
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.
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