NuVasive, Inc. (NUVA) Rating Reiterated by Cowen and Company

NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “outperform” rating reissued by equities researchers at Cowen and Company in a research note issued to investors on Monday. They presently have a $83.00 target price on the medical device company’s stock. Cowen and Company’s target price suggests a potential upside of 55.02% from the stock’s current price.

Other analysts also recently issued reports about the company. Canaccord Genuity restated a “buy” rating and issued a $80.00 price objective on shares of NuVasive in a report on Friday, July 28th. Jefferies Group LLC restated a “buy” rating and issued a $84.00 price objective on shares of NuVasive in a report on Friday, June 30th. Royal Bank Of Canada restated a “buy” rating and issued a $85.00 price objective on shares of NuVasive in a report on Thursday, July 20th. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Gabelli restated a “buy” rating on shares of NuVasive in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $80.42.

Shares of NuVasive (NASDAQ NUVA) opened at 53.54 on Monday. NuVasive has a 52-week low of $52.85 and a 52-week high of $81.68. The stock has a 50 day moving average of $62.55 and a 200-day moving average of $71.98. The stock has a market capitalization of $2.72 billion, a P/E ratio of 84.31 and a beta of 1.08.

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

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In other NuVasive news, CEO Gregory T. Lucier purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average price of $66.22 per share, for a total transaction of $331,100.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Peter Michael Leddy purchased 7,850 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were acquired at an average price of $63.88 per share, for a total transaction of $501,458.00. The disclosure for this purchase can be found here. Insiders have bought 14,850 shares of company stock worth $955,598 in the last 90 days. Insiders own 1.20% of the company’s stock.

Several hedge funds have recently modified their holdings of NUVA. Koch Industries Inc. grew its stake in shares of NuVasive by 26,406.7% during the second quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after acquiring an additional 978,631 shares during the last quarter. Voya Investment Management LLC grew its stake in shares of NuVasive by 43.7% during the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after acquiring an additional 517,115 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of NuVasive by 55.8% during the first quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock worth $90,438,000 after acquiring an additional 433,506 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of NuVasive by 118.7% during the second quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after acquiring an additional 296,715 shares during the last quarter. Finally, Victory Capital Management Inc. grew its stake in shares of NuVasive by 70.8% during the first quarter. Victory Capital Management Inc. now owns 715,321 shares of the medical device company’s stock worth $53,420,000 after acquiring an additional 296,568 shares during the last quarter.

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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