The NuVasive Inc. (NUVA) Given Average Recommendation of “Buy” from Analysts

The NuVasive Inc. (NUVA) Given Average Recommendation of “Buy” from Analysts

NuVasive Inc. (NASDAQ:NUVA) has been assigned a consensus recommendation of “Buy” from the thirteen research firms that are presently covering the company. Five investment analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $66.78.

A number of analysts have recently weighed in on the company. Zacks Investment Research cut NuVasive from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. Barclays PLC increased their price target on NuVasive from $71.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, October 10th. Piper Jaffray Cos. reiterated an “overweight” rating and set a $70.00 price target on shares of NuVasive in a research report on Thursday, September 1st. Jefferies Group reiterated a “buy” rating and set a $72.00 price target on shares of NuVasive in a research report on Wednesday, October 26th. Finally, Brean Capital increased their price target on NuVasive from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th.

NuVasive (NASDAQ:NUVA) opened at 59.95 on Wednesday. NuVasive has a one year low of $36.81 and a one year high of $69.50. The firm has a market capitalization of $3.02 billion, a PE ratio of 75.69 and a beta of 0.51. The company’s 50-day moving average price is $65.90 and its 200 day moving average price is $60.32.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Tuesday, October 25th. The medical device company reported $0.40 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.40. NuVasive had a return on equity of 10.89% and a net margin of 4.06%. The firm had revenue of $239.60 million for the quarter, compared to analysts’ expectations of $243.49 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. NuVasive’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts forecast that NuVasive will post $1.64 earnings per share for the current year.

In other news, Director Lesley H. Howe sold 3,602 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $62.44, for a total value of $224,908.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Jason Hannon sold 11,184 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $62.70, for a total value of $701,236.80. The disclosure for this sale can be found here. Insiders own 4.70% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. World Asset Management Inc acquired a new stake in NuVasive during the third quarter worth about $217,000. Rothschild Asset Management Inc. raised its stake in NuVasive by 5.0% in the third quarter. Rothschild Asset Management Inc. now owns 446,523 shares of the medical device company’s stock worth $29,765,000 after buying an additional 21,072 shares during the last quarter. Texas Permanent School Fund raised its stake in NuVasive by 0.4% in the third quarter. Texas Permanent School Fund now owns 38,253 shares of the medical device company’s stock worth $2,550,000 after buying an additional 150 shares during the last quarter. Strs Ohio raised its stake in NuVasive by 7.2% in the third quarter. Strs Ohio now owns 7,400 shares of the medical device company’s stock worth $493,000 after buying an additional 500 shares during the last quarter. Finally, American Capital Management Inc. acquired a new stake in NuVasive during the third quarter worth about $463,000.

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