Royal Bank Of Canada reiterated their buy rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a report released on Friday morning. Royal Bank Of Canada currently has a $75.00 target price on the medical device company’s stock.

Other analysts also recently issued reports about the stock. BidaskClub raised shares of NuVasive from a hold rating to a buy rating in a report on Wednesday, July 19th. Jefferies Group LLC restated a buy rating and set a $84.00 price objective on shares of NuVasive in a research report on Friday, June 30th. Canaccord Genuity restated a buy rating and set a $80.00 price objective on shares of NuVasive in a research report on Friday, July 28th. Gabelli restated a buy rating on shares of NuVasive in a research report on Monday, July 31st. Finally, Barclays PLC restated a buy rating and set a $80.00 price objective on shares of NuVasive in a research report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $80.42.

Shares of NuVasive (NASDAQ:NUVA) traded up 2.21% during mid-day trading on Friday, hitting $61.40. 2,427,101 shares of the stock traded hands. The firm has a 50 day moving average of $66.12 and a 200 day moving average of $72.86. NuVasive has a 12 month low of $56.70 and a 12 month high of $81.68. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 96.69 and a beta of 1.08.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ 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 period in the prior year, the firm posted $0.40 earnings per share. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. On average, equities analysts expect that NuVasive will post $2.00 EPS for the current fiscal year.

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In other NuVasive news, CEO Gregory T. Lucier bought 2,000 shares of NuVasive stock in a transaction dated Tuesday, August 29th. The stock was acquired at an average cost of $61.52 per share, for a total transaction of $123,040.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Michael Leddy bought 7,850 shares of NuVasive stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $63.88 per share, with a total value of $501,458.00. The disclosure for this purchase can be found here. Insiders bought 14,850 shares of company stock valued at $955,598 over the last quarter. Company insiders own 1.20% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of NUVA. Westside Investment Management Inc. acquired a new stake in shares of NuVasive in the first quarter valued at about $109,000. FNY Partners Fund LP acquired a new stake in shares of NuVasive in the first quarter valued at about $112,000. Neuburgh Advisers LLC raised its position in shares of NuVasive by 18.3% in the first quarter. Neuburgh Advisers LLC now owns 1,552 shares of the medical device company’s stock valued at $116,000 after buying an additional 240 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of NuVasive by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after buying an additional 158 shares during the last quarter. Finally, Glen Harbor Capital Management LLC raised its position in shares of NuVasive by 18.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,134 shares of the medical device company’s stock valued at $159,000 after buying an additional 330 shares during 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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