BTIG Research Reiterates “$74.00” Price Target for NuVasive (NUVA)
Several other research firms have also weighed in on NUVA. Royal Bank of Canada reiterated a buy rating and set a $85.00 price objective on shares of NuVasive in a research note on Monday, August 21st. Needham & Company LLC cut shares of NuVasive from a hold rating to an underperform rating in a research report on Monday, August 28th. Cowen restated an outperform rating and issued a $83.00 target price on shares of NuVasive in a research report on Monday, September 18th. Morgan Stanley restated an equal weight rating and issued a $70.00 target price (down previously from $81.00) on shares of NuVasive in a research report on Friday, October 6th. Finally, Piper Jaffray Companies restated a buy rating and issued a $90.00 target price on shares of NuVasive in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $72.43.
NuVasive (NUVA) traded up $1.21 on Wednesday, reaching $60.79. 928,267 shares of the company traded hands, compared to its average volume of 576,515. The firm has a market capitalization of $3,036.67, a price-to-earnings ratio of 31.52, a price-to-earnings-growth ratio of 2.12 and a beta of 0.77. NuVasive has a 52-week low of $49.25 and a 52-week high of $81.68. The company has a current ratio of 2.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.76.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $247.40 million for the quarter, compared to analyst estimates of $255.70 million. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. NuVasive’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. equities analysts anticipate that NuVasive will post 1.91 EPS for the current year.
NuVasive declared that its board has approved a stock repurchase program on Tuesday, October 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the medical device company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Several institutional investors have recently bought and sold shares of NUVA. Koch Industries Inc. boosted its holdings in shares of NuVasive by 26,406.7% in the second quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock valued at $970,000 after acquiring an additional 978,631 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of NuVasive by 43.7% in the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock valued at $130,761,000 after acquiring an additional 517,115 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in shares of NuVasive by 118.7% in the second quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock valued at $42,055,000 after acquiring an additional 296,715 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of NuVasive by 450.6% in the second quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock valued at $24,221,000 after acquiring an additional 257,700 shares in the last quarter. Finally, Alyeska Investment Group L.P. boosted its holdings in shares of NuVasive by 13.7% in the third quarter. Alyeska Investment Group L.P. now owns 1,559,940 shares of the medical device company’s stock valued at $86,514,000 after acquiring an additional 187,863 shares in 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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