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.
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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