NuVasive, Inc. (NASDAQ:NUVA) Rating Reiterated by Needham & Company LLC
“NUVA’s 2Q17 revenue missed and EPS beat consensus and management maintained its 2017 guidance. Pro forma revenue growth slowed to 5% in 2Q17 from 6% in 1Q17 as biologics sales continued to decline and operational challenges arose from the relocation of a neuromonitoring billing and collection department. NUVA’s operating margin beat consensus and increased 40 bps Y/Y. Despite NUVA’s slower revenue growth, management still expects revenue growth to accelerate in 2H17 given easier comps, new products, new customer wins, and new sales reps coming off non-competes.”,” the firm’s analyst wrote.
Several other equities analysts have also recently weighed in on the company. Morgan Stanley reiterated an equal weight rating and issued a $88.00 price target (up from $84.00) on shares of NuVasive in a research report on Tuesday, July 25th. Royal Bank Of Canada reiterated a buy rating and issued a $85.00 price target on shares of NuVasive in a research report on Thursday, July 20th. BidaskClub upgraded NuVasive from a hold rating to a buy rating in a research report on Wednesday, July 19th. Piper Jaffray Companies reiterated an overweight rating and issued a $90.00 price target on shares of NuVasive in a research report on Wednesday, July 5th. Finally, Zacks Investment Research upgraded NuVasive from a sell rating to a hold rating in a research report on Tuesday, July 4th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. NuVasive has a consensus rating of Buy and a consensus price target of $81.36.
Shares of NuVasive (NASDAQ NUVA) opened at 65.79 on Friday. NuVasive has a 12-month low of $56.70 and a 12-month high of $81.68. The firm has a market capitalization of $3.34 billion, a price-to-earnings ratio of 103.61 and a beta of 1.08. The stock’s 50 day moving average price is $77.23 and its 200 day moving average price is $74.47.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.40 earnings per share. Equities research analysts expect that NuVasive will post $2.01 earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of NUVA. Miles Capital Inc. boosted its position in NuVasive by 0.3% in the first quarter. Miles Capital Inc. now owns 3,118 shares of the medical device company’s stock valued at $233,000 after buying an additional 8 shares during the last quarter. US Bancorp DE boosted its position in NuVasive by 1.7% in the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock worth $180,000 after buying an additional 41 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in NuVasive by 0.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,720 shares of the medical device company’s stock worth $651,000 after buying an additional 43 shares during the last quarter. World Asset Management Inc boosted its position in NuVasive by 2.3% in the first quarter. World Asset Management Inc now owns 3,117 shares of the medical device company’s stock worth $233,000 after buying an additional 69 shares during the last quarter. Finally, Keybank National Association OH boosted its position in NuVasive by 0.7% in the first quarter. Keybank National Association OH now owns 12,667 shares of the medical device company’s stock worth $946,000 after buying an additional 86 shares during the last quarter.
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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