NuVasive (NASDAQ:NUVA) PT Raised to $67.00 at Morgan Stanley

NuVasive (NASDAQ:NUVA) had its target price hoisted by Morgan Stanley from $57.00 to $67.00 in a research report sent to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have an equal weight rating on the medical device company’s stock.

NUVA has been the topic of several other research reports. Zacks Investment Research raised shares of NuVasive from a hold rating to a buy rating and set a $59.00 target price on the stock in a report on Wednesday, July 10th. BidaskClub raised shares of NuVasive from a sell rating to a hold rating in a report on Friday, July 19th. ValuEngine downgraded shares of NuVasive from a buy rating to a hold rating in a report on Friday, June 14th. Cantor Fitzgerald reissued a hold rating and issued a $61.00 target price on shares of NuVasive in a report on Thursday, May 2nd. Finally, Robert W. Baird downgraded shares of NuVasive from an outperform rating to a neutral rating and set a $66.00 target price on the stock. in a report on Monday, July 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $66.14.

Shares of NUVA stock traded down $1.10 during mid-day trading on Wednesday, hitting $66.62. The company had a trading volume of 464,094 shares, compared to its average volume of 396,848. NuVasive has a 52-week low of $43.51 and a 52-week high of $72.41. The company has a 50 day simple moving average of $58.19. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.60 and a quick ratio of 1.96. The stock has a market capitalization of $3.51 billion, a P/E ratio of 29.87, a P/E/G ratio of 2.30 and a beta of 1.14.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, July 30th. The medical device company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.56 by $0.07. NuVasive had a net margin of 4.65% and a return on equity of 15.09%. The firm had revenue of $292.11 million for the quarter, compared to the consensus estimate of $290.59 million. During the same quarter in the previous year, the firm earned $0.58 earnings per share. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. As a group, equities analysts expect that NuVasive will post 2.32 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL raised its stake in NuVasive by 0.5% during the second quarter. Gamco Investors INC. ET AL now owns 163,768 shares of the medical device company’s stock valued at $9,587,000 after purchasing an additional 756 shares in the last quarter. Swiss National Bank raised its stake in NuVasive by 2.6% during the second quarter. Swiss National Bank now owns 96,069 shares of the medical device company’s stock valued at $5,624,000 after purchasing an additional 2,400 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in NuVasive by 0.8% during the second quarter. Stephens Investment Management Group LLC now owns 638,254 shares of the medical device company’s stock valued at $37,363,000 after purchasing an additional 4,872 shares in the last quarter. Rice Hall James & Associates LLC raised its stake in NuVasive by 11.0% during the second quarter. Rice Hall James & Associates LLC now owns 245,519 shares of the medical device company’s stock valued at $14,373,000 after purchasing an additional 24,340 shares in the last quarter. Finally, Keybank National Association OH raised its stake in NuVasive by 7.6% during the second quarter. Keybank National Association OH now owns 14,705 shares of the medical device company’s stock valued at $861,000 after purchasing an additional 1,036 shares in the last quarter.

About NuVasive

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.

Read More: What is Depreciation?

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

Receive News & Ratings for NuVasive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive and related companies with MarketBeat.com's FREE daily email newsletter.