Needham & Company LLC Reiterates Buy Rating for NuVasive (NUVA)
Needham & Company LLC restated their buy rating on shares of NuVasive (NASDAQ:NUVA) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The firm currently has a $70.00 price target on the medical device company’s stock, down from their prior price target of $71.00.
Several other research analysts have also weighed in on the stock. Zacks Investment Research lowered shares of NuVasive from a buy rating to a hold rating in a research report on Tuesday, February 20th. Leerink Swann lowered shares of NuVasive from an outperform rating to a market perform rating in a research report on Thursday, February 1st. Wells Fargo & Co lowered shares of NuVasive from an outperform rating to a market perform rating and set a $65.00 target price on the stock. in a research report on Wednesday, January 17th. BidaskClub lowered shares of NuVasive from a sell rating to a strong sell rating in a research report on Thursday, January 11th. Finally, Piper Jaffray Companies restated a buy rating and set a $90.00 target price on shares of NuVasive in a research report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $68.19.
NuVasive (NUVA) opened at $48.03 on Tuesday. The company has a current ratio of 3.48, a quick ratio of 1.51 and a debt-to-equity ratio of 0.73. NuVasive has a 1 year low of $44.62 and a 1 year high of $81.68. The firm has a market cap of $2,450.00, a PE ratio of 41.41, a price-to-earnings-growth ratio of 1.31 and a beta of 0.50.
Several hedge funds and other institutional investors have recently made changes to their positions in NUVA. Westside Investment Management Inc. lifted its holdings in shares of NuVasive by 76.0% in the fourth quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock valued at $147,000 after purchasing an additional 1,140 shares in the last quarter. Zions Bancorporation purchased a new position in shares of NuVasive during the third quarter valued at approximately $160,000. Baird Financial Group Inc. purchased a new position in shares of NuVasive during the fourth quarter valued at approximately $205,000. Xact Kapitalforvaltning AB purchased a new position in shares of NuVasive during the fourth quarter valued at approximately $293,000. Finally, Icon Advisers Inc. Co. purchased a new position in shares of NuVasive during the third quarter valued at approximately $360,000.
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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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