NuVasive Inc. (NASDAQ:NUVA)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $62.95 and last traded at $62.45, with a volume of 273,682 shares trading hands. The stock had previously closed at $61.26.

NUVA has been the topic of several recent analyst reports. Brean Capital restated a “buy” rating and set a $60.00 price objective (up from $58.00) on shares of NuVasive in a research note on Tuesday, June 7th. Leerink Swann restated a “buy” rating on shares of NuVasive in a research note on Wednesday, April 27th. Cowen and Company restated a “buy” rating and set a $63.00 price objective (up from $52.00) on shares of NuVasive in a research note on Wednesday, April 27th. Piper Jaffray Cos. restated a “buy” rating and set a $58.00 price objective (up from $50.00) on shares of NuVasive in a research note on Wednesday, April 27th. Finally, Canaccord Genuity restated a “buy” rating on shares of NuVasive in a research note on Wednesday, April 27th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. NuVasive has an average rating of “Buy” and an average target price of $61.85.

The firm’s 50-day moving average price is $58.91 and its 200-day moving average price is $50.78. The company has a market capitalization of $3.11 billion and a price-to-earnings ratio of 126.73.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, April 26th. The medical device company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $215.10 million for the quarter, compared to the consensus estimate of $205.54 million. NuVasive’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.30 earnings per share. On average, equities research analysts expect that NuVasive Inc. will post $1.51 earnings per share for the current fiscal year.

In other news, EVP Jason Hannon sold 14,534 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $57.57, for a total value of $836,722.38. Following the completion of the sale, the executive vice president now directly owns 37,616 shares of the company’s stock, valued at approximately $2,165,553.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Several large investors recently bought and sold shares of NUVA. Dimensional Fund Advisors LP raised its stake in NuVasive by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,030,568 shares of the medical device company’s stock valued at $55,765,000 after buying an additional 32,254 shares during the last quarter. Jennison Associates LLC raised 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 valued at $22,342,000 after buying an additional 121,061 shares during the last quarter. OppenheimerFunds Inc. raised 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 valued at $21,512,000 after buying an additional 228,102 shares during the last quarter. Principal Financial Group Inc. raised its stake in NuVasive by 4.8% in the fourth quarter. Principal Financial Group Inc. now owns 330,134 shares of the medical device company’s stock valued at $17,863,000 after buying an additional 15,216 shares during the last quarter. Finally, New York State Common Retirement Fund raised 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 valued at $11,006,000 after buying an additional 62,437 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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