NuVasive, Inc. (NUVA) Stock Rating Reaffirmed by Leerink Swann

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.

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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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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