Shares of NuVasive Inc. (NASDAQ:NUVA) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $61.29 and last traded at $61.04, with a volume of 323,976 shares changing hands. The stock had previously closed at $59.71.

Several analysts have recently weighed in on the company. Leerink Swann restated an “outperform” rating on shares of NuVasive in a research note on Thursday, March 17th. Piper Jaffray Cos. restated an “overweight” rating and set a $58.00 target price on shares of NuVasive in a research note on Friday, June 3rd. Cowen and Company restated a “buy” rating and set a $63.00 target price (up from $52.00) on shares of NuVasive in a research note on Wednesday, April 27th. Brean Capital restated a “buy” rating and set a $60.00 target price (up from $58.00) on shares of NuVasive in a research note on Tuesday, June 7th. Finally, TheStreet downgraded NuVasive from a “buy” rating to a “hold” rating in a research note on Wednesday, April 27th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. NuVasive currently has a consensus rating of “Buy” and a consensus target price of $60.83.

The company has a 50 day moving average of $57.31 and a 200 day moving average of $50.35. The stock has a market cap of $3.04 billion and a PE ratio of 123.65.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, April 26th. The medical device company reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. The company had revenue of $215.10 million for the quarter, compared to the consensus estimate of $205.54 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The business’s revenue for the quarter was up 11.8% compared to the same quarter last year. Equities analysts expect that NuVasive Inc. will post $1.51 EPS for the current year.

In related news, EVP Jason Hannon sold 14,534 shares of the company’s stock in a transaction dated Thursday, June 16th. The shares were sold at an average price of $57.57, for a total value of $836,722.38. Following the sale, the executive vice president now owns 37,616 shares of the company’s stock, valued at $2,165,553.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Other hedge funds have bought and sold shares of the company. OppenheimerFunds Inc. boosted its stake in NuVasive by 134.6% in the fourth quarter. OppenheimerFunds Inc. now owns 397,562 shares of the medical device company’s stock worth $21,512,000 after buying an additional 228,102 shares during the last quarter. Neuberger Berman Group LLC boosted its stake in NuVasive by 60.3% in the fourth quarter. Neuberger Berman Group LLC now owns 369,250 shares of the medical device company’s stock worth $19,980,000 after buying an additional 138,850 shares during the last quarter. Jennison Associates LLC boosted its stake in NuVasive by 41.5% in the fourth quarter. Jennison Associates LLC now owns 412,893 shares of the medical device company’s stock worth $22,342,000 after buying an additional 121,061 shares during the last quarter. New York State Common Retirement Fund boosted its stake in NuVasive by 44.3% in the fourth quarter. New York State Common Retirement Fund now owns 203,394 shares of the medical device company’s stock worth $11,006,000 after buying an additional 62,437 shares during the last quarter. Finally, Nationwide Fund Advisors boosted its stake in NuVasive by 33.5% in the fourth quarter. Nationwide Fund Advisors now owns 194,006 shares of the medical device company’s stock worth $10,498,000 after buying an additional 48,722 shares during the last quarter.

Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.

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