NuVasive (NUVA) Raised to Buy at BidaskClub

BidaskClub upgraded shares of NuVasive (NASDAQ:NUVA) from a hold rating to a buy rating in a research report released on Wednesday morning, BidAskClub reports.

A number of other analysts have also recently issued reports on the stock. ValuEngine raised shares of NuVasive from a hold rating to a buy rating in a research note on Tuesday, May 7th. Cantor Fitzgerald reissued a hold rating and issued a $61.00 price objective on shares of NuVasive in a research note on Thursday, May 2nd. Zacks Investment Research raised shares of NuVasive from a sell rating to a hold rating in a research note on Tuesday, April 23rd. Jefferies Financial Group cut shares of NuVasive from a buy rating to a hold rating and set a $60.00 price objective for the company. in a research note on Tuesday, February 12th. Finally, Needham & Company LLC lowered shares of NuVasive from a buy rating to a hold rating in a research report on Friday, February 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $67.43.

Shares of NASDAQ NUVA opened at $61.88 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.75 and a quick ratio of 1.96. The firm has a market capitalization of $3.21 billion, a PE ratio of 27.75, a PEG ratio of 2.28 and a beta of 1.21. NuVasive has a 1 year low of $43.51 and a 1 year high of $72.41.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Wednesday, May 1st. The medical device company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.12. The firm had revenue of $274.78 million during the quarter, compared to analysts’ expectations of $269.22 million. NuVasive had a net margin of 4.39% and a return on equity of 15.16%. The company’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.39 earnings per share. As a group, research analysts predict that NuVasive will post 2.28 earnings per share for the current fiscal year.

In related news, President Matthew Link sold 10,100 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $62.00, for a total transaction of $626,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.97% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Arizona State Retirement System lifted its position in NuVasive by 0.5% during the first quarter. Arizona State Retirement System now owns 37,078 shares of the medical device company’s stock valued at $2,106,000 after purchasing an additional 170 shares during the last quarter. Royce & Associates LP lifted its position in NuVasive by 35.1% during the first quarter. Royce & Associates LP now owns 678 shares of the medical device company’s stock valued at $39,000 after purchasing an additional 176 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in NuVasive by 1.5% during the first quarter. Louisiana State Employees Retirement System now owns 13,800 shares of the medical device company’s stock valued at $784,000 after purchasing an additional 200 shares during the last quarter. Retirement Systems of Alabama lifted its position in NuVasive by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 66,672 shares of the medical device company’s stock valued at $3,304,000 after purchasing an additional 219 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in NuVasive by 4.1% during the fourth quarter. Stephens Inc. AR now owns 6,156 shares of the medical device company’s stock valued at $305,000 after purchasing an additional 242 shares during the last quarter.

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 products include 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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