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.

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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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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