NuVasive, Inc. (NUVA) Given Buy Rating at Jefferies Group LLC
Jefferies Group LLC reaffirmed their buy rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a research report released on Thursday. The brokerage currently has a $84.00 price objective on the medical device company’s stock, up from their prior price objective of $79.00.
NUVA has been the subject of several other reports. Needham & Company LLC reaffirmed a hold rating on shares of NuVasive in a research report on Friday, February 10th. Canaccord Genuity set a $69.00 target price on shares of NuVasive and gave the stock a buy rating in a research report on Monday, January 23rd. Barclays PLC raised their target price on shares of NuVasive to $80.00 in a research report on Friday, February 10th. Zacks Investment Research cut shares of NuVasive from a buy rating to a hold rating in a research report on Tuesday, October 25th. Finally, TheStreet cut shares of NuVasive from a strong-buy rating to a hold rating in a research report on Tuesday, October 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $70.36.
Shares of NuVasive (NASDAQ:NUVA) opened at 73.97 on Thursday. NuVasive has a 12 month low of $37.95 and a 12 month high of $75.10. The company has a market capitalization of $3.74 billion, a P/E ratio of 107.20 and a beta of 0.86. The firm has a 50-day moving average of $70.32 and a 200-day moving average of $65.97.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Thursday, February 9th. The medical device company reported $0.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.02. NuVasive had a net margin of 3.29% and a return on equity of 12.26%. The firm earned $271.10 million during the quarter, compared to analysts’ expectations of $261.25 million. During the same period last year, the company posted $0.35 EPS. The company’s quarterly revenue was up 25.9% compared to the same quarter last year. On average, equities analysts predict that NuVasive will post $2.02 earnings per share for the current year.
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In related news, Director Lesley H. Howe sold 6,049 shares of NuVasive stock in a transaction dated Tuesday, February 14th. The shares were sold at an average price of $73.26, for a total transaction of $443,149.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Matthew Link sold 10,303 shares of NuVasive stock in a transaction dated Monday, December 12th. The shares were sold at an average price of $67.99, for a total transaction of $700,500.97. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of NUVA. Fortaleza Asset Management Inc. boosted its position in shares of NuVasive by 59.2% in the fourth quarter. Fortaleza Asset Management Inc. now owns 3,065 shares of the medical device company’s stock worth $206,000 after buying an additional 1,140 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of NuVasive during the fourth quarter worth about $1,130,000. Empire Life Investments Inc. acquired a new position in shares of NuVasive during the fourth quarter worth about $1,214,000. Guggenheim Capital LLC boosted its position in shares of NuVasive by 15.5% in the fourth quarter. Guggenheim Capital LLC now owns 182,958 shares of the medical device company’s stock worth $12,324,000 after buying an additional 24,534 shares during the period. Finally, Seven Eight Capital LP acquired a new position in shares of NuVasive during the fourth quarter worth about $1,287,000.
NuVasive Company Profile
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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