NuVasive, Inc. (NUVA) Receives $72.43 Average Price Target from Brokerages

NuVasive, Inc. (NASDAQ:NUVA) has earned an average rating of “Buy” from the nineteen ratings firms that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and thirteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have covered the stock in the last year is $72.43.

A number of research analysts have commented on the company. Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday. BTIG Research set a $74.00 price target on NuVasive and gave the company a “buy” rating in a research report on Wednesday, December 13th. BMO Capital Markets reaffirmed a “buy” rating and set a $70.00 price target on shares of NuVasive in a research report on Thursday, December 14th. TheStreet lowered NuVasive from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price target on shares of NuVasive in a research report on Thursday, September 28th.

NuVasive (NUVA) traded down $0.95 during midday trading on Thursday, hitting $59.50. The stock had a trading volume of 535,400 shares, compared to its average volume of 843,674. NuVasive has a 12 month low of $49.25 and a 12 month high of $81.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.51 and a current ratio of 2.85. The company has a market cap of $3,098.34, a price-to-earnings ratio of 32.16, a PEG ratio of 2.16 and a beta of 0.77.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The company had revenue of $247.40 million during the quarter, compared to analyst estimates of $255.70 million. During the same quarter in the previous year, the company posted $0.40 EPS. NuVasive’s revenue for the quarter was up 3.3% on a year-over-year basis. sell-side analysts anticipate that NuVasive will post 1.91 earnings per share for the current year.

NuVasive declared that its board has authorized a share repurchase program on Tuesday, October 24th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the medical device company to buy shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of NUVA. Bank of Montreal Can grew its holdings in shares of NuVasive by 23.6% during the 2nd quarter. Bank of Montreal Can now owns 5,680 shares of the medical device company’s stock worth $437,000 after acquiring an additional 1,086 shares during the period. Aperio Group LLC grew its stake in shares of NuVasive by 7.2% in the 2nd quarter. Aperio Group LLC now owns 11,197 shares of the medical device company’s stock worth $861,000 after buying an additional 750 shares during the last quarter. Strs Ohio grew its stake in shares of NuVasive by 4.2% in the 2nd quarter. Strs Ohio now owns 7,500 shares of the medical device company’s stock worth $576,000 after buying an additional 300 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in shares of NuVasive by 2.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 31,388 shares of the medical device company’s stock worth $2,412,000 after buying an additional 689 shares during the last quarter. Finally, World Asset Management Inc grew its stake in shares of NuVasive by 2.7% in the 2nd quarter. World Asset Management Inc now owns 3,201 shares of the medical device company’s stock worth $246,000 after buying an additional 84 shares during the last quarter.

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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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