NuVasive Inc. (NUVA) Hits New 1-Year High at $65.10
Shares of NuVasive Inc. (NASDAQ:NUVA) hit a new 52-week high on Tuesday . The company traded as high as $65.10 and last traded at $64.87, with a volume of 88,799 shares changing hands. The stock had previously closed at $64.81.
A number of analysts recently commented on the company. Piper Jaffray Cos. reiterated an “overweight” rating and issued a $58.00 price objective on shares of NuVasive in a research report on Friday, June 3rd. Brean Capital reiterated a “buy” rating and issued a $60.00 price objective (up from $58.00) on shares of NuVasive in a research report on Tuesday, June 7th. Leerink Swann reiterated a “buy” rating and issued a $65.00 price objective on shares of NuVasive in a research report on Tuesday, May 10th. Canaccord Genuity reiterated a “buy” rating on shares of NuVasive in a research report on Monday, June 6th. Finally, Barclays PLC upgraded NuVasive from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $58.00 to $63.00 in a research report on Friday, May 27th. Three investment analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $64.38.
The stock has a market cap of $3.29 billion and a PE ratio of 67.91. The company’s 50 day moving average is $62.72 and its 200-day moving average is $54.28.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The company earned $236.50 million during the quarter, compared to analysts’ expectations of $232.86 million. During the same quarter last year, the firm posted $0.31 earnings per share. NuVasive’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, equities analysts expect that NuVasive Inc. will post $1.65 earnings per share for the current fiscal year.
In other NuVasive news, EVP Jason Hannon sold 14,534 shares of NuVasive stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $57.57, for a total transaction of $836,722.38. Following the completion of the sale, the executive vice president now owns 37,616 shares of the company’s stock, valued at $2,165,553.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lesley H. Howe sold 3,602 shares of NuVasive stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $62.44, for a total value of $224,908.88. 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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