NuVasive Inc. (NASDAQ:NUVA) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $63.41 and last traded at $63.35, with a volume of 264,316 shares traded. The stock had previously closed at $62.20.

A number of equities research analysts have issued reports on the company. Morgan Stanley reaffirmed a “hold” rating on shares of NuVasive in a research report on Wednesday, April 27th. Canaccord Genuity reaffirmed a “buy” rating on shares of NuVasive in a research report on Wednesday, April 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of NuVasive in a research report on Wednesday, April 27th. JPMorgan Chase & Co. raised NuVasive from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $55.00 to $74.00 in a research report on Wednesday, July 13th. Finally, Zacks Investment Research cut NuVasive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $64.38.

The company has a market capitalization of $3.14 billion and a PE ratio of 64.97. The stock has a 50-day moving average of $60.21 and a 200-day moving average of $51.54.

NuVasive (NASDAQ:NUVA) last posted its earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $236.50 million for the quarter, compared to analyst estimates of $232.86 million. During the same period in the previous year, the firm posted $0.31 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. Equities research analysts anticipate that NuVasive Inc. will post $1.65 EPS for the current fiscal year.

In related news, EVP Jason Hannon sold 2,920 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $62.80, for a total transaction of $183,376.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

A number of hedge funds have recently added to or reduced their stakes in NUVA. Comerica Bank increased its stake in NuVasive by 0.6% in the fourth quarter. Comerica Bank now owns 54,277 shares of the medical device company’s stock valued at $2,851,000 after buying an additional 331 shares during the period. Swiss National Bank increased its stake in NuVasive by 1.0% in the fourth quarter. Swiss National Bank now owns 63,500 shares of the medical device company’s stock valued at $3,436,000 after buying an additional 600 shares during the period. California Public Employees Retirement System increased its stake in NuVasive by 1.9% in the fourth quarter. California Public Employees Retirement System now owns 132,000 shares of the medical device company’s stock valued at $7,143,000 after buying an additional 2,400 shares during the period. Rhumbline Advisers increased its stake in NuVasive by 9.3% in the fourth quarter. Rhumbline Advisers now owns 63,098 shares of the medical device company’s stock valued at $3,414,000 after buying an additional 5,350 shares during the period. Finally, Redwood Investments LLC increased its stake in NuVasive by 94.6% in the fourth quarter. Redwood Investments LLC now owns 26,431 shares of the medical device company’s stock valued at $1,430,000 after buying an additional 12,851 shares during the period.

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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