NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “equal weight” rating reissued by analysts at Morgan Stanley in a research note issued on Friday. They presently have a $70.00 target price on the medical device company’s stock, down from their prior target price of $81.00. Morgan Stanley’s price target points to a potential upside of 22.89% from the company’s current price.

Several other research firms have also commented on NUVA. Royal Bank Of Canada reaffirmed a “buy” rating and set a $85.00 price target on shares of NuVasive in a research report on Thursday, July 20th. BidaskClub raised shares of NuVasive from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Piper Jaffray Companies lifted their price target on shares of NuVasive from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Monday, June 12th. Jefferies Group LLC reaffirmed a “buy” rating and set a $84.00 price target on shares of NuVasive in a research report on Friday, June 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of NuVasive in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $77.92.

NuVasive (NASDAQ:NUVA) traded up 0.87% during midday trading on Friday, hitting $56.95. The company had a trading volume of 1,303,562 shares. NuVasive has a 1-year low of $52.85 and a 1-year high of $81.68. The firm has a market capitalization of $2.89 billion, a P/E ratio of 89.69 and a beta of 1.03. The company has a 50 day moving average price of $59.06 and a 200 day moving average price of $70.34.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The firm had revenue of $260.60 million for the quarter, compared to analyst estimates of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. 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 earned $0.40 EPS. Equities research analysts forecast that NuVasive will post $2.00 earnings per share for the current fiscal year.

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In other NuVasive news, EVP Peter Michael Leddy purchased 7,850 shares of the company’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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory T. Lucier purchased 2,000 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 14,850 shares of company stock valued at $955,598. Insiders own 1.20% of the company’s stock.

Several large investors have recently bought and sold shares of NUVA. Koch Industries Inc. grew its stake in shares of NuVasive by 26,406.7% in the second quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after acquiring an additional 978,631 shares in the last quarter. Voya Investment Management LLC grew its stake in shares of NuVasive by 43.7% in the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after acquiring an additional 517,115 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of NuVasive by 118.7% in the second quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after acquiring an additional 296,715 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of NuVasive in the first quarter worth $20,724,000. Finally, Renaissance Technologies LLC grew its stake in shares of NuVasive by 450.6% in the second quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock worth $24,221,000 after acquiring an additional 257,700 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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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