NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “buy” rating reissued by Leerink Swann in a report released on Wednesday. They currently have a $74.00 target price on the medical device company’s stock, down from their previous target price of $87.00. Leerink Swann’s price target indicates a potential upside of 35.51% from the company’s current price. Leerink Swann also issued estimates for NuVasive’s Q3 2017 earnings at $0.44 EPS, Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $1.95 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.78 EPS, FY2018 earnings at $2.45 EPS and FY2019 earnings at $3.04 EPS. The analysts noted that the move was a valuation call.
Other equities analysts have also recently issued research reports about the company. Jefferies Group LLC reissued a “buy” rating and set a $84.00 price target on shares of NuVasive in a report on Friday, June 30th. Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, July 4th. Robert W. Baird cut NuVasive from an “outperform” rating to a “neutral” rating and lowered their target price for the stock from $79.00 to $72.00 in a report on Friday, July 28th. Cowen and Company reaffirmed an “outperform” rating and issued a $83.00 target price (down previously from $90.00) on shares of NuVasive in a report on Sunday, July 30th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 target price on shares of NuVasive in a report on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the stock. NuVasive has a consensus rating of “Buy” and an average target price of $79.92.
Shares of NuVasive (NUVA) traded down 0.0002% during mid-day trading on Wednesday, hitting $54.6099. The stock had a trading volume of 124,226 shares. The company has a market capitalization of $2.77 billion, a P/E ratio of 85.9998 and a beta of 1.08. The stock’s 50-day moving average price is $62.55 and its 200 day moving average price is $71.98. NuVasive has a 1-year low of $52.85 and a 1-year high of $81.68.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $261.95 million. During the same quarter in the previous year, the firm earned $0.40 EPS. NuVasive’s revenue was up 10.3% on a year-over-year basis. On average, analysts predict that NuVasive will post $2.00 EPS for the current fiscal year.
In other news, EVP Peter Michael Leddy purchased 7,850 shares of the business’s stock in a transaction on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Gregory T. Lucier purchased 5,000 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was purchased at an average price of $66.22 per share, for a total transaction of $331,100.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 14,850 shares of company stock worth $955,598. Corporate insiders own 1.20% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Navellier & Associates Inc raised its stake in shares of NuVasive by 5.2% in the second quarter. Navellier & Associates Inc now owns 74,387 shares of the medical device company’s stock worth $5,722,000 after purchasing an additional 3,696 shares during the last quarter. Broadfin Capital LLC purchased a new stake in shares of NuVasive during the second quarter valued at approximately $4,300,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of NuVasive during the second quarter valued at approximately $501,000. Public Employees Retirement System of Ohio increased its position in shares of NuVasive by 68.3% during the second quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock valued at $8,874,000 after acquiring an additional 46,805 shares during the last quarter. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of NuVasive by 4.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 70,657 shares of the medical device company’s stock valued at $5,435,000 after acquiring an additional 2,922 shares during the last quarter.
NuVasive Company Profile
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.
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