Gabelli Reiterates Buy Rating for NuVasive, Inc. (NUVA)
NuVasive, Inc. (NASDAQ:NUVA)‘s stock had its “buy” rating reaffirmed by Gabelli in a report released on Thursday.
NUVA has been the subject of several other research reports. Needham & Company LLC restated a “hold” rating on shares of NuVasive in a report on Friday, July 28th. Royal Bank Of Canada lifted their price target on NuVasive from $76.00 to $85.00 and gave the stock an “outperform” rating in a report on Tuesday, June 6th. Cowen and Company reiterated an “outperform” rating and set a $83.00 price target on shares of NuVasive in a report on Monday, September 18th. Barclays PLC reiterated a “buy” rating and set a $80.00 price target on shares of NuVasive in a report on Wednesday, August 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $90.00 price target on shares of NuVasive in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $79.92.
NuVasive (NASDAQ NUVA) opened at 54.25 on Thursday. The firm has a 50-day moving average price of $62.55 and a 200-day moving average price of $71.98. The stock has a market cap of $2.76 billion, a P/E ratio of 85.43 and a beta of 1.08. NuVasive has a 52 week low of $52.85 and a 52 week high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The company had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. NuVasive’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. On average, equities research analysts predict that NuVasive will post $2.00 EPS for the current year.
In other news, CEO Gregory T. Lucier acquired 2,000 shares of the stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $61.52 per share, for a total transaction of $123,040.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory T. Lucier acquired 5,000 shares of the stock in a transaction on Thursday, August 17th. The shares were purchased at an average price of $66.22 per share, with a total value of $331,100.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 14,850 shares of company stock valued at $955,598. Company insiders own 1.20% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Navellier & Associates Inc raised its position in NuVasive by 5.2% during the second quarter. Navellier & Associates Inc now owns 74,387 shares of the medical device company’s stock valued at $5,722,000 after purchasing an additional 3,696 shares in the last quarter. Broadfin Capital LLC acquired a new position in NuVasive during the second quarter valued at approximately $4,300,000. Dynamic Technology Lab Private Ltd acquired a new position in NuVasive during the second quarter valued at approximately $501,000. Public Employees Retirement System of Ohio raised its position in NuVasive by 68.3% during the second quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock valued at $8,874,000 after purchasing an additional 46,805 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN raised its position in NuVasive by 4.3% during the second quarter. Disciplined Growth Investors Inc. MN now owns 70,657 shares of the medical device company’s stock valued at $5,435,000 after purchasing an additional 2,922 shares in the last quarter.
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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