NuVasive, Inc. (NUVA) Downgraded by Needham & Company LLC
Needham & Company LLC cut shares of NuVasive, Inc. (NASDAQ:NUVA) from a hold rating to an underperform rating in a research report released on Monday, MarketBeat.com reports.
NUVA has been the subject of several other reports. TheStreet upgraded shares of NuVasive from a c+ rating to a b rating in a report on Wednesday, May 3rd. Royal Bank Of Canada reiterated a buy rating and set a $76.00 target price on shares of NuVasive in a report on Monday, May 15th. Cowen and Company reiterated an outperform rating and set a $85.00 target price on shares of NuVasive in a report on Monday, May 15th. Piper Jaffray Companies lifted their target price on shares of NuVasive from $80.00 to $90.00 and gave the company an overweight rating in a report on Monday, June 12th. Finally, Zacks Investment Research lowered shares of NuVasive from a hold rating to a sell rating in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $81.18.
NuVasive (NUVA) opened at 61.68 on Monday. The company has a market capitalization of $3.13 billion, a P/E ratio of 97.13 and a beta of 1.06. NuVasive has a 12-month low of $56.70 and a 12-month high of $81.68. The company’s 50 day moving average price is $70.61 and its 200-day moving average price is $73.61.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The business had revenue of $260.60 million during the quarter, compared to analyst estimates of $261.95 million. During the same period last year, the business posted $0.40 earnings per share. NuVasive’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts forecast that NuVasive will post $2.00 earnings per share for the current fiscal year.
In other news, EVP Peter Michael Leddy acquired 7,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $63.88 per share, for a total transaction of $501,458.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gregory T. Lucier acquired 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was purchased at an average price of $66.22 per share, with a total value of $331,100.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 14,850 shares of company stock valued at $955,598. 1.20% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of NUVA. Great West Life Assurance Co. Can increased its stake in NuVasive by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 30,699 shares of the medical device company’s stock worth $2,291,000 after buying an additional 1,122 shares during the period. Geneva Advisors LLC increased its stake in NuVasive by 5.4% in the first quarter. Geneva Advisors LLC now owns 16,814 shares of the medical device company’s stock worth $1,256,000 after buying an additional 860 shares during the period. Cookson Peirce & Co. Inc. bought a new stake in NuVasive during the first quarter worth approximately $237,000. Greenleaf Trust bought a new stake in NuVasive during the first quarter worth approximately $443,000. Finally, Oregon Public Employees Retirement Fund increased its stake in NuVasive by 1.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 17,641 shares of the medical device company’s stock worth $1,317,000 after buying an additional 200 shares during the period.
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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