NuVasive (NASDAQ:NUVA) was downgraded by investment analysts at Wells Fargo & Co from an “outperform” rating to a “market perform” rating in a note issued to investors on Wednesday, MarketBeat Ratings reports. They currently have a $65.00 price objective on the medical device company’s stock. Wells Fargo & Co’s price target would suggest a potential upside of 27.98% from the stock’s current price.

A number of other research firms also recently commented on NUVA. Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 target price on shares of NuVasive in a report on Tuesday, January 9th. Needham & Company LLC reaffirmed a “sell” rating on shares of NuVasive in a report on Wednesday, October 25th. Robert W. Baird set a $60.00 target price on NuVasive and gave the stock a “hold” rating in a report on Thursday, October 12th. BMO Capital Markets reduced their target price on NuVasive from $85.00 to $69.00 and set an “outperform” rating on the stock in a report on Wednesday, October 25th. Finally, Royal Bank of Canada reduced their target price on NuVasive from $75.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, November 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. NuVasive has an average rating of “Buy” and a consensus target price of $72.33.

NuVasive (NUVA) opened at $50.79 on Wednesday. The company has a current ratio of 2.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.76. NuVasive has a 1-year low of $48.41 and a 1-year high of $81.68. The company has a market capitalization of $2,590.00, a P/E ratio of 42.68, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $255.70 million. During the same quarter last year, the business posted $0.40 EPS. NuVasive’s quarterly revenue was up 3.3% compared to the same quarter last year. sell-side analysts expect that NuVasive will post 1.91 earnings per share for the current year.

NuVasive announced that its Board of Directors has authorized a share repurchase program on Tuesday, October 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the medical device company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Several institutional investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its position in NuVasive by 11.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 234,544 shares of the medical device company’s stock valued at $18,042,000 after acquiring an additional 23,280 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after acquiring an additional 158 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in NuVasive in the 2nd quarter valued at approximately $317,000. Alliancebernstein L.P. increased its position in NuVasive by 1.2% in the 2nd quarter. Alliancebernstein L.P. now owns 83,185 shares of the medical device company’s stock valued at $6,399,000 after acquiring an additional 1,010 shares during the period. Finally, Riverhead Capital Management LLC increased its position in NuVasive by 65.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,963 shares of the medical device company’s stock valued at $305,000 after acquiring an additional 1,563 shares during the period.

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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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