NuVasive (NASDAQ:NUVA) was downgraded by research analysts at Wells Fargo & Co to a “market perform” rating in a research report issued on Wednesday, The Fly reports.

Other equities analysts have also issued reports about the stock. Needham & Company LLC upgraded shares of NuVasive from an “underperform” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Thursday, January 4th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. BidaskClub upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a report on Friday, December 15th. BMO Capital Markets restated a “buy” rating and issued a $70.00 price objective on shares of NuVasive in a report on Thursday, December 14th. Finally, BTIG Research set a $74.00 price objective on shares of NuVasive and gave the stock a “buy” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $72.33.

NuVasive (NUVA) opened at $51.99 on Wednesday. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68. The stock has a market cap of $2,718.12, a P/E ratio of 43.69, a PEG ratio of 1.40 and a beta of 0.77. The company has a current ratio of 2.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.76.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. The firm had revenue of $247.40 million during the quarter, compared to analyst estimates of $255.70 million. During the same period last year, the business earned $0.40 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. sell-side analysts predict that NuVasive will post 1.91 EPS for the current fiscal year.

NuVasive announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the medical device company to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Hanseatic Management Services Inc. raised its stake in NuVasive by 0.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,868 shares of the medical device company’s stock valued at $1,144,000 after buying an additional 39 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in NuVasive by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after buying an additional 158 shares during the last quarter. Dana Investment Advisors Inc. raised its stake in NuVasive by 0.8% during the 2nd quarter. Dana Investment Advisors Inc. now owns 31,750 shares of the medical device company’s stock valued at $2,442,000 after buying an additional 237 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in NuVasive by 2.2% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,618 shares of the medical device company’s stock valued at $1,509,000 after buying an additional 422 shares during the last quarter. Finally, Tudor Investment Corp ET AL raised its stake in NuVasive by 4.6% during the 2nd quarter. Tudor Investment Corp ET AL now owns 9,816 shares of the medical device company’s stock valued at $755,000 after buying an additional 428 shares during the last quarter.

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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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