Zacks Investment Research upgraded shares of NuVasive (NASDAQ:NUVA) from a hold rating to a buy rating in a report issued on Monday, February 19th. The brokerage currently has $54.00 price objective on the medical device company’s stock.
According to Zacks, “NuVasive's recent quarterly performances were promising significantly driven by solid international growth. The last-reported third quarter marked the fourth consecutive one registering more than 20% growth in international business. However, overall sales in the quarter were impacted by procedural volume-related challenges in the United States and the adverse impact of hurricanes Harvey and Irma on NuVasive’s U.S. results and Maria on the international front. With chances of fourth-quarter revenues being affected by Maria in Puerto Rico and with the anticipated lower U.S. procedural volumes to continue, NuVasive is pressed to reduce its full-year guidance, which is disappointing. Also, the contraction in gross margin is a matter of concern. Overall, for the past six months, NuVasive has been trading below the broader industry.”
NUVA has been the topic of a number of other research reports. Leerink Swann downgraded NuVasive from an outperform rating to a market perform rating in a report on Thursday, February 1st. Wells Fargo & Co downgraded NuVasive from an outperform rating to a market perform rating and set a $65.00 price target on the stock. in a research note on Wednesday, January 17th. BidaskClub downgraded NuVasive from a sell rating to a strong sell rating in a research note on Thursday, January 11th. Piper Jaffray Companies restated a buy rating and set a $90.00 price target on shares of NuVasive in a research note on Tuesday, January 9th. Finally, Needham & Company LLC raised NuVasive from an underperform rating to a buy rating and set a $71.00 price objective for the company in a research report on Thursday, January 4th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. NuVasive currently has an average rating of Buy and an average target price of $68.19.
Shares of NuVasive (NASDAQ NUVA) traded down $0.07 during trading on Monday, hitting $50.67. The stock had a trading volume of 578,742 shares, compared to its average volume of 853,244. NuVasive has a twelve month low of $44.62 and a twelve month high of $81.68. The company has a current ratio of 3.48, a quick ratio of 1.94 and a debt-to-equity ratio of 0.73. The firm has a market cap of $2,600.00, a price-to-earnings ratio of 43.68, a PEG ratio of 1.30 and a beta of 0.50.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Monday, February 26th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $271.70 million for the quarter, compared to analyst estimates of $272.11 million. NuVasive had a return on equity of 13.40% and a net margin of 8.06%. NuVasive’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 EPS. research analysts expect that NuVasive will post 2.46 earnings per share for the current year.
In related news, CEO Gregory T. Lucier acquired 6,000 shares of NuVasive stock in a transaction on Tuesday, March 6th. The shares were bought at an average price of $50.30 per share, for a total transaction of $301,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.20% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Icon Advisers Inc. Co. acquired a new position in shares of NuVasive in the third quarter worth about $360,000. Dynamic Technology Lab Private Ltd bought a new stake in NuVasive in the second quarter valued at about $501,000. Sector Gamma AS bought a new stake in NuVasive in the third quarter valued at about $10,149,000. GSA Capital Partners LLP increased its holdings in NuVasive by 176.5% in the third quarter. GSA Capital Partners LLP now owns 9,403 shares of the medical device company’s stock valued at $521,000 after buying an additional 6,002 shares during the last quarter. Finally, State of Tennessee Treasury Department bought a new stake in NuVasive in the fourth quarter valued at about $21,349,000.
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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.
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