Needham & Company LLC reaffirmed their hold rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a research note issued to investors on Friday.

“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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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