NuVasive Inc. (NUVA) Hits New 1-Year High at $66.82
NuVasive Inc. (NASDAQ:NUVA) shares reached a new 52-week high during mid-day trading on Monday . The company traded as high as $66.82 and last traded at $66.74, with a volume of 364,900 shares trading hands. The stock had previously closed at $66.06.
A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. upgraded NuVasive from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $55.00 to $74.00 in a report on Wednesday, July 13th. Zacks Investment Research lowered NuVasive from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 27th. Morgan Stanley reiterated a “hold” rating and issued a $57.00 target price on shares of NuVasive in a report on Tuesday, June 7th. Jefferies Group reiterated a “buy” rating on shares of NuVasive in a report on Wednesday, August 3rd. Finally, TheStreet raised NuVasive from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 26th. Three equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $65.31.
The company has a market cap of $3.35 billion and a PE ratio of 69.23. The stock’s 50-day moving average is $62.89 and its 200 day moving average is $54.37.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm earned $236.50 million during the quarter, compared to analysts’ expectations of $232.86 million. During the same period in the previous year, the company earned $0.31 earnings per share. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts expect that NuVasive Inc. will post $1.65 earnings per share for the current fiscal year.
In other NuVasive news, Director Lesley H. Howe sold 3,602 shares of the company’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.44, for a total value of $224,908.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jason Hannon sold 2,920 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $62.80, for a total transaction of $183,376.00. The disclosure for this sale can be found here.
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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