Robert W. Baird Analysts Give NuVasive, Inc. (NUVA) a $60.00 Price Target
Robert W. Baird set a $60.00 price objective on NuVasive, Inc. (NASDAQ:NUVA) in a research note released on Thursday morning. The firm currently has a hold rating on the medical device company’s stock.
Other analysts also recently issued research reports about the stock. Royal Bank Of Canada reissued a buy rating and set a $85.00 target price on shares of NuVasive in a research report on Thursday, July 20th. BidaskClub raised shares of NuVasive from a hold rating to a buy rating in a research report on Wednesday, July 19th. Jefferies Group LLC reissued a buy rating and set a $84.00 target price on shares of NuVasive in a research report on Friday, June 30th. Canaccord Genuity reissued a buy rating and set a $80.00 target price on shares of NuVasive in a research report on Friday, July 28th. Finally, Gabelli reissued a buy rating on shares of NuVasive 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 company. The company currently has a consensus rating of Buy and a consensus target price of $76.62.
Shares of NuVasive (NASDAQ:NUVA) traded down 0.51% during midday trading on Thursday, hitting $50.82. 1,244,332 shares of the company’s stock were exchanged. NuVasive has a one year low of $49.25 and a one year high of $81.68. The firm has a market cap of $2.58 billion, a PE ratio of 80.03 and a beta of 1.03. The stock’s 50-day moving average price is $57.00 and its 200 day moving average price is $69.36.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The business 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%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 EPS. Equities research analysts forecast that NuVasive will post $1.99 EPS for the current year.
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In other news, EVP Peter Michael Leddy acquired 7,850 shares of NuVasive stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $63.88 per share, for a total transaction of $501,458.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory T. Lucier acquired 5,000 shares of NuVasive stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average price of $66.22 per share, for a total transaction of $331,100.00. The disclosure for this purchase can be found here. Insiders have bought 14,850 shares of company stock valued at $955,598 in the last three months. Corporate insiders own 1.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in NUVA. FNY Partners Fund LP bought a new position in NuVasive during the first quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in NuVasive by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock worth $146,000 after purchasing an additional 158 shares during the last quarter. Howard Hughes Medical Institute lifted its stake in NuVasive by 82.8% during the second quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock worth $159,000 after purchasing an additional 936 shares during the last quarter. US Bancorp DE lifted its stake in 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, Honkamp Krueger Financial Services Inc. bought a new position in NuVasive during the second quarter worth $201,000.
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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