JPMorgan Chase & Co. Downgrades NuVasive (NUVA) to Neutral

NuVasive (NASDAQ:NUVA) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Thursday, The Fly reports.

Several other research analysts have also recently commented on the company. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. Cantor Fitzgerald assumed coverage on NuVasive in a research note on Thursday, May 31st. They issued a “neutral” rating and a $54.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $69.00 price target (down previously from $70.00) on shares of NuVasive in a research note on Wednesday, May 2nd. BMO Capital Markets cut NuVasive from an “outperform” rating to a “market perform” rating and set a $69.00 price objective on the stock. in a research note on Wednesday, May 2nd. Finally, BTIG Research restated a “buy” rating and set a $72.00 price objective on shares of NuVasive in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $65.06.

NuVasive opened at $56.68 on Thursday, Marketbeat Ratings reports. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.30 and a current ratio of 2.41. NuVasive has a one year low of $44.62 and a one year high of $81.68. The stock has a market capitalization of $2.86 billion, a P/E ratio of 29.68, a price-to-earnings-growth ratio of 1.68 and a beta of 0.36.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Tuesday, May 1st. The medical device company reported $0.39 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.06). NuVasive had a return on equity of 13.14% and a net margin of 4.14%. The business had revenue of $260.50 million during the quarter, compared to analyst estimates of $259.43 million. During the same quarter last year, the firm posted $0.37 EPS. The company’s revenue was up 4.6% compared to the same quarter last year. equities research analysts predict that NuVasive will post 2.45 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the company. Westside Investment Management Inc. raised its position in shares of NuVasive by 76.0% during the 4th quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock worth $147,000 after purchasing an additional 1,140 shares during the period. Rockefeller Capital Management L.P. acquired a new stake in shares of NuVasive during the 1st quarter worth approximately $141,000. Baird Financial Group Inc. acquired a new stake in shares of NuVasive during the 4th quarter worth approximately $205,000. Permanens Capital L.P. acquired a new stake in shares of NuVasive during the 1st quarter worth approximately $261,000. Finally, Xact Kapitalforvaltning AB acquired a new stake in shares of NuVasive during the 4th quarter worth approximately $293,000.

NuVasive Company Profile

NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

The Fly

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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