NuVasive, Inc. (NUVA) Hits New 1-Year Low at $54.54
NuVasive, Inc. (NASDAQ:NUVA) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $54.54 and last traded at $54.03, with a volume of 2,851,590 shares traded. The stock had previously closed at $57.80.
NUVA has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $85.00 target price on shares of NuVasive in a report on Thursday, July 20th. BidaskClub raised shares of NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and set a $84.00 target price on shares of NuVasive in a report on Friday, June 30th. Canaccord Genuity reaffirmed a “buy” rating and set a $80.00 target price on shares of NuVasive in a report on Friday, July 28th. Finally, Gabelli reaffirmed a “buy” rating on shares of NuVasive in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $80.42.
The firm’s 50 day moving average price is $62.90 and its 200 day moving average price is $72.14. The company has a market cap of $2.72 billion, a PE ratio of 84.28 and a beta of 1.08.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million for the quarter, compared to analyst estimates of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. NuVasive’s revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. Equities research analysts expect that NuVasive, Inc. will post $2.00 EPS for the current fiscal year.
In related news, EVP Peter Michael Leddy purchased 7,850 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were purchased at an average price of $63.88 per share, with a total value of $501,458.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory T. Lucier purchased 2,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The stock was bought at an average cost of $61.52 per share, for a total transaction of $123,040.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock worth $955,598 in the last ninety days. 1.20% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of NuVasive by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after buying an additional 53,769 shares during the last quarter. Champlain Investment Partners LLC increased its holdings in shares of NuVasive by 2.3% in the 1st quarter. Champlain Investment Partners LLC now owns 1,908,280 shares of the medical device company’s stock worth $142,510,000 after buying an additional 42,395 shares during the last quarter. State Street Corp increased its holdings in shares of NuVasive by 4.2% in the 2nd quarter. State Street Corp now owns 1,710,341 shares of the medical device company’s stock worth $131,562,000 after buying an additional 68,344 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of NuVasive by 43.7% in the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after buying an additional 517,115 shares during the last quarter. Finally, OppenheimerFunds Inc. increased its holdings in shares of NuVasive by 55.8% in the 1st quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock worth $90,438,000 after buying an additional 433,506 shares during the last quarter.
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NuVasive Company Profile
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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