NuVasive, Inc. (NUVA) Receives “Buy” Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their buy rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a report published on Tuesday. The firm currently has a $75.00 price target on the medical device company’s stock.

Other equities analysts have also issued research reports about the company. Jefferies Group LLC reissued a buy rating and issued a $79.00 target price on shares of NuVasive in a research report on Sunday, July 30th. Canaccord Genuity restated a buy rating and set a $80.00 price target on shares of NuVasive in a research note on Friday, July 28th. BidaskClub upgraded NuVasive from a hold rating to a buy rating in a research note on Wednesday, July 19th. Gabelli restated a buy rating on shares of NuVasive in a research note on Monday, July 31st. Finally, Barclays PLC restated a buy rating and set a $80.00 price target on shares of NuVasive in a research note on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $77.92.

NuVasive (NASDAQ NUVA) opened at 53.73 on Tuesday. The company’s 50-day moving average is $58.22 and its 200 day moving average is $69.85. NuVasive has a 52-week low of $52.85 and a 52-week high of $81.68. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 84.61 and a beta of 1.03.

NuVasive (NASDAQ:NUVA) last issued its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $260.60 million during the quarter, compared to analyst estimates 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. Equities analysts forecast that NuVasive will post $1.99 earnings per share for the current fiscal year.

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In related news, CEO Gregory T. Lucier purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average price of $61.52 per share, for a total transaction of $123,040.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gregory T. Lucier purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought 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. Insiders have bought a total of 14,850 shares of company stock worth $955,598 over the last ninety days. Insiders own 1.20% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. First Trust Advisors LP raised its holdings in NuVasive by 17.7% during the 2nd quarter. First Trust Advisors LP now owns 36,597 shares of the medical device company’s stock valued at $2,815,000 after buying an additional 5,510 shares during the period. Bank of Montreal Can increased its stake in NuVasive by 23.6% in the second quarter. Bank of Montreal Can now owns 5,680 shares of the medical device company’s stock worth $437,000 after purchasing an additional 1,086 shares during the period. Teachers Advisors LLC increased 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 worth $18,636,000 after purchasing an additional 167,950 shares during the period. Neuberger Berman Group LLC increased its stake in NuVasive by 8.9% in the second quarter. Neuberger Berman Group LLC now owns 439,121 shares of the medical device company’s stock worth $33,777,000 after purchasing an additional 35,866 shares during the period. Finally, Geneva Advisors LLC increased its stake in NuVasive by 3.3% in the second quarter. Geneva Advisors LLC now owns 17,369 shares of the medical device company’s stock worth $1,336,000 after purchasing an additional 555 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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