NuVasive Inc. (NUVA) Sets New 1-Year High at $63.73
NuVasive Inc. (NASDAQ:NUVA) hit a new 52-week high on Monday . The company traded as high as $63.73 and last traded at $63.64, with a volume of 129,526 shares changing hands. The stock had previously closed at $62.91.
NUVA has been the subject of a number of research analyst reports. Piper Jaffray Cos. reiterated an “overweight” rating and set a $58.00 price objective on shares of NuVasive in a report on Friday, June 3rd. Cowen and Company reiterated a “buy” rating and set a $63.00 price objective (up previously from $52.00) on shares of NuVasive in a report on Wednesday, April 27th. Brean Capital reiterated a “buy” rating and set a $60.00 price objective (up previously from $58.00) on shares of NuVasive in a report on Tuesday, June 7th. Leerink Swann reiterated a “buy” rating on shares of NuVasive in a report on Wednesday, April 27th. Finally, TheStreet lowered shares of NuVasive from a “buy” rating to a “hold” rating in a report on Wednesday, April 27th. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. NuVasive has a consensus rating of “Buy” and a consensus price target of $64.38.
The company has a 50-day moving average of $61.61 and a 200-day moving average of $52.68. The stock has a market capitalization of $3.18 billion and a PE ratio of 65.66.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data 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 company had revenue of $236.50 million for the quarter, compared to analyst estimates of $232.86 million. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.31 EPS. Equities research analysts forecast that NuVasive Inc. will post $1.65 earnings per share for the current year.
In other news, Director Lesley H. Howe sold 3,602 shares of NuVasive stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $62.44, for a total value of $224,908.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Jason Hannon sold 14,534 shares of NuVasive stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $57.57, for a total transaction of $836,722.38. Following the completion of the transaction, the executive vice president now directly owns 37,616 shares in the company, valued at $2,165,553.12. The disclosure for this sale can be found here.
Several institutional investors have made changes to their positions in the stock. RS Investment Management Co. LLC boosted its position in shares of NuVasive by 403.7% in the fourth quarter. RS Investment Management Co. LLC now owns 753,190 shares of the medical device company’s stock worth $40,755,000 after buying an additional 603,650 shares during the last quarter. Nicholas Co. Inc. WI boosted its position in shares of NuVasive by 45.0% in the fourth quarter. Nicholas Co. Inc. WI now owns 61,960 shares of the medical device company’s stock worth $3,352,000 after buying an additional 19,240 shares during the last quarter. State of Tennessee Treasury Department acquired a new position in shares of NuVasive during the fourth quarter worth approximately $2,067,000. Dimensional Fund Advisors LP boosted its position in shares of 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 worth $55,765,000 after buying an additional 32,254 shares during the last quarter. Finally, Jennison Associates LLC boosted its position in shares of 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.
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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