Jefferies Group LLC Reaffirms Buy Rating for NuVasive, Inc. (NASDAQ:NUVA)

Jefferies Group LLC restated their buy rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a report issued on Sunday, July 30th. They currently have a $79.00 target price on the medical device company’s stock.

Other analysts also recently issued research reports about the company. TheStreet upgraded NuVasive from a c+ rating to a b rating in a research note on Wednesday, May 3rd. Royal Bank Of Canada reiterated a buy rating and issued a $76.00 price objective on shares of NuVasive in a research report on Monday, May 15th. BMO Capital Markets reiterated a buy rating and issued a $82.00 price objective on shares of NuVasive in a research report on Tuesday, April 11th. Canaccord Genuity reiterated a buy rating and issued a $84.00 price objective (up previously from $82.00) on shares of NuVasive in a research report on Wednesday, April 26th. Finally, BidaskClub upgraded NuVasive from a hold rating to a buy rating in a research report on Wednesday, July 19th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company presently has an average rating of Buy and an average target price of $81.18.

NuVasive (NASDAQ NUVA) traded up 4.30% during trading on Friday, reaching $66.63. The company had a trading volume of 1,695,893 shares. NuVasive has a 12 month low of $56.70 and a 12 month high of $81.68. The company has a market capitalization of $3.39 billion, a P/E ratio of 104.93 and a beta of 1.06. The stock has a 50 day moving average of $73.76 and a 200-day moving average of $74.02.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company had revenue of $260.60 million during the quarter, compared to the consensus estimate of $261.95 million. During the same quarter in the prior year, the company posted $0.40 EPS. The firm’s revenue was up 10.3% on a year-over-year basis. Equities research analysts expect that NuVasive will post $2.00 EPS for the current fiscal year.

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In other NuVasive news, EVP Peter Michael Leddy purchased 7,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was purchased at an average cost of $63.88 per share, with a total value of $501,458.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 4.70% of the company’s stock.

Several large investors have recently added to or reduced their stakes in NUVA. Teachers Advisors LLC boosted its stake in NuVasive by 205.8% in the first quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock valued at $18,636,000 after buying an additional 167,950 shares during the period. Keybank National Association OH boosted its stake in NuVasive by 0.7% in the first quarter. Keybank National Association OH now owns 12,667 shares of the medical device company’s stock valued at $946,000 after buying an additional 86 shares during the period. Columbus Circle Investors boosted its stake in NuVasive by 7.9% in the first quarter. Columbus Circle Investors now owns 745,483 shares of the medical device company’s stock valued at $55,673,000 after buying an additional 54,291 shares during the period. Stephens Investment Management Group LLC boosted its stake in NuVasive by 7.5% in the first quarter. Stephens Investment Management Group LLC now owns 685,623 shares of the medical device company’s stock valued at $51,202,000 after buying an additional 47,707 shares during the period. Finally, Pacer Advisors Inc. boosted its stake in NuVasive by 22.0% in the first quarter. Pacer Advisors Inc. now owns 5,244 shares of the medical device company’s stock valued at $392,000 after buying an additional 945 shares during the period.

About NuVasive

Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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