NuVasive, Inc. (NUVA) Earns Sell Rating from Needham & Company LLC
NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “sell” rating reaffirmed by equities research analysts at Needham & Company LLC in a report released on Friday.
Several other brokerages have also issued reports on NUVA. Cowen and Company restated an “outperform” rating and issued a $90.00 price objective (up from $85.00) on shares of NuVasive in a report on Wednesday, June 28th. Robert W. Baird downgraded NuVasive from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $79.00 to $72.00 in a research report on Friday, July 28th. Gabelli reaffirmed a “buy” rating on shares of NuVasive in a research report on Monday, July 31st. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 target price on shares of NuVasive in a research report on Thursday, July 20th. Finally, Zacks Investment Research downgraded NuVasive from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $77.92.
Shares of NuVasive (NUVA) traded up 0.87% during midday trading on Friday, hitting $56.95. 1,303,562 shares of the stock traded hands. The company’s 50 day moving average price is $58.81 and its 200-day moving average price is $70.21. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 89.69 and a beta of 1.03. NuVasive has a 12-month low of $52.85 and a 12-month high of $81.68.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.02. The firm had revenue of $260.60 million for the quarter, compared to analyst estimates of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. NuVasive’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. On average, equities research analysts expect that NuVasive will post $2.00 EPS for the current year.
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In related news, EVP Peter Michael Leddy purchased 7,850 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was acquired at an average price of $63.88 per share, for a total transaction of $501,458.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory T. Lucier purchased 2,000 shares of the business’s stock in a transaction dated Tuesday, August 29th. The shares were bought at an average price of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 14,850 shares of company stock valued at $955,598. 1.20% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. Miles Capital Inc. raised its stake in shares of NuVasive by 0.3% during the first quarter. Miles Capital Inc. now owns 3,118 shares of the medical device company’s stock worth $233,000 after purchasing an additional 8 shares during the last quarter. Hanseatic Management Services Inc. raised its stake in shares of NuVasive by 0.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,868 shares of the medical device company’s stock worth $1,144,000 after purchasing an additional 39 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of NuVasive by 1.0% during the second quarter. Teacher Retirement System of Texas now owns 4,040 shares of the medical device company’s stock worth $311,000 after purchasing an additional 40 shares during the last quarter. US Bancorp DE raised its stake in shares of NuVasive by 1.7% during the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock worth $180,000 after purchasing an additional 41 shares during the last quarter. Finally, World Asset Management Inc raised its stake in shares of NuVasive by 2.7% during the second quarter. World Asset Management Inc now owns 3,201 shares of the medical device company’s stock worth $246,000 after purchasing an additional 84 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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