NuVasive Inc. (NASDAQ:NUVA) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $65.00 and last traded at $64.75, with a volume of 215,326 shares. The stock had previously closed at $63.51.

NUVA has been the topic of several recent research reports. Piper Jaffray Cos. reaffirmed 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 reiterated a “buy” rating and set a $63.00 price target (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 target (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 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 given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $64.38.

The stock has a market capitalization of $3.17 billion and a P/E ratio of 65.52. The firm’s 50 day moving average price is $62.17 and its 200 day moving average price is $53.44.

NuVasive (NASDAQ:NUVA) last announced its earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share (EPS) 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% on a year-over-year basis. During the same period last year, the firm earned $0.31 earnings per share. On average, equities analysts expect that NuVasive Inc. will post $1.65 EPS 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 stock was sold at an average price of $62.44, for a total transaction of $224,908.88. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $836,722.38. Following the transaction, the executive vice president now owns 37,616 shares in the company, valued at approximately $2,165,553.12. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently modified their holdings of the stock. RS Investment Management Co. LLC boosted its position in 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 valued at $40,755,000 after buying an additional 603,650 shares in the last quarter. Nicholas Co. Inc. WI boosted its position in NuVasive by 45.0% in the fourth quarter. Nicholas Co. Inc. WI now owns 61,960 shares of the medical device company’s stock valued at $3,352,000 after buying an additional 19,240 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 in the last quarter. Jennison Associates LLC boosted its position 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 in the last quarter. Finally, Principal Financial Group Inc. boosted its position 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 in 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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