Analysts Set NuVasive, Inc. (NUVA) Price Target at $65.13

Shares of NuVasive, Inc. (NASDAQ:NUVA) have earned an average rating of “Hold” from the twenty-one research firms that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $65.13.

Several equities analysts have recently issued reports on NUVA shares. ValuEngine upgraded NuVasive from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target (up previously from $67.00) on shares of NuVasive in a research note on Wednesday, October 17th. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a research note on Tuesday, October 2nd. Canaccord Genuity decreased their price target on NuVasive from $80.00 to $75.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Finally, BTIG Research reduced their price objective on NuVasive to $59.00 and set a “buy” rating on the stock in a research report on Thursday. They noted that the move was a valuation call.

In other NuVasive news, insider Matthew Link sold 2,582 shares of the business’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $62.02, for a total transaction of $160,135.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 8,671 shares of company stock valued at $538,741 over the last ninety days. 0.95% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of NUVA. Victory Capital Management Inc. lifted its stake in NuVasive by 100.0% in the third quarter. Victory Capital Management Inc. now owns 1,000,605 shares of the medical device company’s stock valued at $71,023,000 after purchasing an additional 500,395 shares during the last quarter. Redmile Group LLC purchased a new position in NuVasive in the third quarter valued at approximately $31,210,000. Investment Counselors of Maryland LLC purchased a new position in NuVasive in the third quarter valued at approximately $21,782,000. Glenmede Trust Co. NA purchased a new position in NuVasive in the second quarter valued at approximately $12,955,000. Finally, SG Capital Management LLC purchased a new position in NuVasive in the fourth quarter valued at approximately $11,153,000.

NASDAQ:NUVA opened at $48.02 on Friday. The company has a market cap of $2.47 billion, a P/E ratio of 25.14, a PEG ratio of 1.28 and a beta of 1.08. The company has a quick ratio of 1.83, a current ratio of 3.45 and a debt-to-equity ratio of 0.74. NuVasive has a 1-year low of $43.51 and a 1-year high of $72.41.

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

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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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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