NuVasive (NASDAQ:NUVA) Upgraded to B at TheStreet

TheStreet upgraded shares of NuVasive (NASDAQ:NUVA) from a c+ rating to a b rating in a research report released on Wednesday morning, TheStreetRatingsTable reports.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of NuVasive from a hold rating to a buy rating and set a $59.00 price objective on the stock in a research note on Wednesday, July 10th. BTIG Research reissued a buy rating and issued a $65.00 price target on shares of NuVasive in a research note on Monday, July 1st. Robert W. Baird cut NuVasive from an outperform rating to a neutral rating and set a $66.00 price target on the stock. in a research note on Monday. Royal Bank of Canada set a $70.00 price target on NuVasive and gave the stock a buy rating in a research note on Wednesday. Finally, Cantor Fitzgerald reissued a hold rating and issued a $61.00 price target on shares of NuVasive in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $66.14.

Shares of NASDAQ NUVA traded down $1.13 during midday trading on Wednesday, reaching $66.59. 28,795 shares of the company traded hands, compared to its average volume of 280,403. NuVasive has a 52 week low of $43.51 and a 52 week high of $72.41. The stock’s 50-day moving average is $58.09. The company has a current ratio of 3.75, a quick ratio of 1.96 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $3.11 billion, a P/E ratio of 29.87, a price-to-earnings-growth ratio of 2.21 and a beta of 1.11.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, July 30th. The medical device company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. NuVasive had a net margin of 4.39% and a return on equity of 15.16%. The business had revenue of $292.11 million for the quarter, compared to analysts’ expectations of $290.59 million. During the same period in the previous year, the business earned $0.58 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis. As a group, equities analysts anticipate that NuVasive will post 2.3 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in NUVA. Norges Bank acquired a new stake in NuVasive in the 4th quarter worth approximately $50,996,000. Stephens Investment Management Group LLC lifted its holdings in NuVasive by 0.8% in the 2nd quarter. Stephens Investment Management Group LLC now owns 638,254 shares of the medical device company’s stock worth $37,363,000 after purchasing an additional 4,872 shares during the last quarter. Geode Capital Management LLC lifted its holdings in NuVasive by 7.5% in the 4th quarter. Geode Capital Management LLC now owns 584,788 shares of the medical device company’s stock worth $28,981,000 after purchasing an additional 40,600 shares during the last quarter. Sector Gamma AS lifted its holdings in NuVasive by 13.7% in the 1st quarter. Sector Gamma AS now owns 538,625 shares of the medical device company’s stock worth $30,589,000 after purchasing an additional 64,702 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in NuVasive by 23.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 391,625 shares of the medical device company’s stock worth $22,241,000 after purchasing an additional 73,760 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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