NuVasive (NASDAQ:NUVA) was upgraded by equities research analysts at BidaskClub from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

Several other equities research analysts have also commented on NUVA. Royal Bank of Canada restated a “buy” rating and issued a $85.00 price objective on shares of NuVasive in a research note on Monday, August 21st. Needham & Company LLC lowered NuVasive from a “hold” rating to an “underperform” rating in a research note on Monday, August 28th. BTIG Research initiated coverage on NuVasive in a research note on Thursday, September 7th. They issued a “buy” rating and a $82.00 price objective for the company. Cowen restated an “outperform” rating and issued a $83.00 price objective on shares of NuVasive in a research note on Monday, September 18th. Finally, Leerink Swann reaffirmed a “buy” rating and issued a $74.00 target price (down previously from $87.00) on shares of NuVasive in a report on Wednesday, September 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. NuVasive has an average rating of “Buy” and an average price target of $72.43.

Shares of NuVasive (NASDAQ:NUVA) opened at $59.58 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.85 and a debt-to-equity ratio of 0.76. The company has a market capitalization of $3,020.00, a price-to-earnings ratio of 31.05, a PEG ratio of 2.09 and a beta of 0.77. NuVasive has a 12 month low of $49.25 and a 12 month high of $81.68.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $247.40 million during the quarter, compared to analyst estimates of $255.70 million. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. NuVasive’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. research analysts anticipate that NuVasive will post 1.91 earnings per share for the current fiscal year.

NuVasive declared that its board has approved a stock repurchase plan on Tuesday, October 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the medical device company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Hanseatic Management Services Inc. boosted its holdings in shares of NuVasive by 0.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,868 shares of the medical device company’s stock valued at $1,144,000 after purchasing an additional 39 shares during the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of NuVasive by 1.0% during the 2nd quarter. Teacher Retirement System of Texas now owns 4,040 shares of the medical device company’s stock valued at $311,000 after purchasing an additional 40 shares during the last quarter. World Asset Management Inc boosted its holdings in shares of NuVasive by 2.7% during the 2nd quarter. World Asset Management Inc now owns 3,201 shares of the medical device company’s stock valued at $246,000 after purchasing an additional 84 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of NuVasive by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. boosted its holdings in shares of NuVasive by 4.9% during the 2nd quarter. Campbell Newman Asset Management Inc. now owns 3,628 shares of the medical device company’s stock valued at $279,000 after purchasing an additional 169 shares during the last quarter.

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About NuVasive

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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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