NuVasive (NASDAQ:NUVA)‘s stock had its “strong sell” rating restated by Zacks Investment Research in a research note issued on Wednesday.

According to Zacks, “NuVasive’s third-quarter revenue exceeded the consensus mark. However, earnings fell short of the mark. Operating profit contracted significantly on escalating costs and expenses. Full-year outlook also seems disappointing which fails to indicate any sign of rebound in the near term. Headwinds like pricing pressure, reimbursement issues and competitive landscape are the major downsides. Notably, in the quarter under review, pricing pressure remained stable at a negative 2%, below the industry average. NuVasive has underperformed its industry over the past three months. On a positive note, NuVasive delivered balanced growth in both of its business wings. Also, a solid show by the international business buoys optimism. The company expects to see strong demand for new products and positive surgeon conversion efforts. Moreover, contributions from the company’s the recently-completed consolidation of SafePassage was significant.”

Several other analysts also recently issued reports on NUVA. BidaskClub downgraded shares of NuVasive from a “buy” rating to a “hold” rating in a report on Friday, August 10th. ValuEngine downgraded shares of NuVasive from a “buy” rating to a “hold” rating in a report on Thursday, November 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price target (down previously from $80.00) on shares of NuVasive in a report on Wednesday, October 31st. Canaccord Genuity reduced their price target on shares of NuVasive from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. Finally, BMO Capital Markets reduced their price target on shares of NuVasive from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $67.47.

Shares of NUVA opened at $57.79 on Wednesday. The company has a current ratio of 3.45, a quick ratio of 1.83 and a debt-to-equity ratio of 0.74. NuVasive has a twelve month low of $44.62 and a twelve month high of $72.41. The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 30.26, a P/E/G ratio of 1.72 and a beta of 0.78.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, October 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.06). NuVasive had a net margin of 2.24% and a return on equity of 13.87%. The business had revenue of $271.30 million during the quarter, compared to analysts’ expectations of $265.70 million. During the same period last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts anticipate that NuVasive will post 2.18 EPS for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in NUVA. Guggenheim Capital LLC lifted its stake in shares of NuVasive by 12.0% during the first quarter. Guggenheim Capital LLC now owns 12,026 shares of the medical device company’s stock valued at $627,000 after buying an additional 1,285 shares during the period. Legal & General Group Plc lifted its stake in shares of NuVasive by 11.3% during the first quarter. Legal & General Group Plc now owns 51,828 shares of the medical device company’s stock valued at $2,706,000 after buying an additional 5,258 shares during the period. Principal Financial Group Inc. lifted its stake in shares of NuVasive by 4.3% during the first quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock valued at $11,826,000 after buying an additional 9,438 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of NuVasive by 20.8% during the second quarter. Xact Kapitalforvaltning AB now owns 8,116 shares of the medical device company’s stock valued at $423,000 after buying an additional 1,400 shares during the period. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of NuVasive during the second quarter valued at approximately $304,000.

NuVasive Company Profile

NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

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