NuVasive, Inc. (NASDAQ:NUVA) Receives Buy Rating from Canaccord Genuity
Canaccord Genuity reaffirmed their buy rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a report published on Friday. Canaccord Genuity currently has a $80.00 price target on the medical device company’s stock.
A number of other research firms have also recently weighed in on NUVA. Cowen and Company reiterated an outperform rating and set a $90.00 price target (up from $85.00) on shares of NuVasive in a report on Wednesday, June 28th. Robert W. Baird cut NuVasive from an outperform rating to a neutral rating and lowered their price target for the stock from $79.00 to $72.00 in a report on Friday. Royal Bank Of Canada reiterated a buy rating and set a $85.00 price target on shares of NuVasive in a report on Thursday, July 20th. BidaskClub upgraded NuVasive from a hold rating to a buy rating in a report on Wednesday, July 19th. Finally, Piper Jaffray Companies increased their price target on NuVasive from $80.00 to $90.00 and gave the stock an overweight rating in a report on Monday, June 12th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. NuVasive currently has a consensus rating of Buy and an average price target of $81.36.
Shares of NuVasive (NASDAQ:NUVA) traded down 2.55% during mid-day trading on Friday, reaching $64.11. The company had a trading volume of 754,449 shares. The stock’s 50-day moving average price is $77.23 and its 200 day moving average price is $74.47. NuVasive has a 1-year low of $56.70 and a 1-year high of $81.68. The company has a market capitalization of $3.26 billion, a PE ratio of 100.96 and a beta of 1.08.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. Equities analysts expect that NuVasive will post $2.01 EPS for the current year.
Large investors have recently bought and sold shares of the stock. Keybank National Association OH raised its stake 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 in the last quarter. Columbus Circle Investors raised its stake in NuVasive by 7.9% in the first quarter. Columbus Circle Investors now owns 745,483 shares of the medical device company’s stock worth $55,673,000 after buying an additional 54,291 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in NuVasive by 7.5% in the first quarter. Stephens Investment Management Group LLC now owns 685,623 shares of the medical device company’s stock worth $51,202,000 after buying an additional 47,707 shares in the last quarter. Pacer Advisors Inc. raised its stake in NuVasive by 22.0% in the first quarter. Pacer Advisors Inc. now owns 5,244 shares of the medical device company’s stock worth $392,000 after buying an additional 945 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its stake in NuVasive by 55.8% in the first quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock worth $90,438,000 after buying an additional 433,506 shares in the last quarter.
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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