NuVasive, Inc. (NASDAQ: NUVA) Receives an Average Analyst Rating of “Hold”
NuVasive, Inc. (NASDAQ: NUVA – Get a rating) received an average recommendation of “Hold” from the fifteen brokerages that currently cover the business, Market assessments reports. One analyst rated the stock with a sell recommendation, seven gave the company a hold recommendation and seven gave the company a buy recommendation. The 12-month average target price among brokers who have issued ratings on the stock over the past year is $64.25.
Several equity analysts have recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and posted a price target of $64.00 on NuVasive shares in a research note on Thursday, March 24. Zacks Investment Research upgraded NuVasive shares from a “sell” rating to a “hold” rating and set a $57.00 price target for the company in a Tuesday, March 1 research report. Wells Fargo & Company launched coverage on NuVasive shares in a research report on Monday, March 28. They set an “overweight” rating and a price target of $58.00 for the company. Morgan Stanley lowered its price target on NuVasive shares from $62.00 to $60.00 and set an “equal weight” rating for the company in a Friday, Jan. 7 research report. Finally, Truist Financial launched coverage on NuVasive shares in a Wednesday, April 13 research report. They set a “buy” rating and a price target of $65.00 for the company.
Shares of NASDAQ: NUVA opened at $51.44 on Monday. The company’s 50-day simple moving average is $54.60. NuVasive has a 1 year minimum of $45.45 and a 1 year maximum of $72.14. The company has a debt ratio of 1.11, a quick ratio of 2.42 and a current ratio of 3.99.
NuVasive (NASDAQ: NUVA – Get a rating) last released its quarterly earnings data on Wednesday, February 23. The medical device company reported earnings per share (EPS) of $0.40 for the quarter, missing Thomson Reuters’ consensus estimate of $0.47 per ($0.07). The company posted revenue of $302.08 million for the quarter, compared to analysts’ expectations of $298.92 million. NuVasive had a negative net margin of 5.63% and a positive return on equity of 10.65%. The company’s revenue for the quarter increased 3.5% year over year. In the same period a year earlier, the company had earned earnings per share of $0.59. Sell-side analysts expect NuVasive to post an EPS of 2.16 for the current fiscal year.
In other NuVasive News, CEO James Christophe Barry sold 5,000 shares of the company in a trade on Wednesday, April 13. The shares were sold at an average price of $58.00, for a total value of $290,000.00. Following completion of the transaction, the CEO now owns 50,218 shares of the company, valued at $2,912,644. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders of the company own 0.47% of the shares of the company.
Hedge funds have recently changed their stakes in the company. Exchange Traded Concepts LLC increased its stake in NuVasive stock by 49.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 636 shares of the medical device company worth $33,000 after purchasing an additional 210 shares during the period. Rockefeller Capital Management LP increased its stake in NuVasive shares by 35.3% during the third quarter. Rockefeller Capital Management LP now owns 1,926 shares of the medical device company worth $115,000 after buying 503 additional shares during the period. Point72 Hong Kong Ltd increased its stake in NuVasive shares by 3,406.6% during the third quarter. Point72 Hong Kong Ltd now owns 2,139 shares in the medical device company worth $128,000 after buying an additional 2,078 shares during the period. GSA Capital Partners LLP acquired a new equity stake in NuVasive during the third quarter valued at approximately $219,000. Finally, Inspire Investing LLC acquired a new equity stake in NuVasive during the third quarter worth approximately $221,000.
NuVasive Company Profile (Get a rating)
NuVasive, Inc., a medical technology company, develops, manufactures and sells procedural solutions for spine surgery. It provides surgical access instruments, including the Maxcess integrated split-blade retractor system that enables less invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by improving osseointegration and the biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and a fixation system that facilitates the preservation and restoration of patient alignment.
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