NuVasive, Inc. (NASDAQ:NUVA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $50.37, but opened at $50.29. NuVasive shares last traded at $50.29, with a volume of 2111079 shares.

A number of equities analysts recently commented on the stock. Wells Fargo & Co lowered shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research note on Wednesday. Needham & Company LLC raised shares of NuVasive from an “underperform” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Thursday, January 4th. TheStreet lowered shares of NuVasive from a “b-” rating to a “c+” rating in a research note on Friday, October 13th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $90.00 price objective on shares of NuVasive in a research note on Thursday, September 28th. Finally, BidaskClub lowered shares of NuVasive from a “sell” rating to a “strong sell” rating in a research note on Thursday, January 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $72.33.

The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. The company has a market capitalization of $2,560.00, a PE ratio of 42.26, a PEG ratio of 1.40 and a beta of 0.77.

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

NuVasive announced that its board has initiated a share repurchase program on Tuesday, October 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the medical device company to buy shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s leadership believes its shares are undervalued.

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised 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 in the last quarter. Shelton Capital Management bought a new position in shares of NuVasive during the 2nd quarter valued at $221,000. Zions Bancorporation bought a new position in shares of NuVasive during the 3rd quarter valued at $160,000. Verition Fund Management LLC bought a new position in shares of NuVasive during the 2nd quarter valued at $233,000. Finally, Riverhead Capital Management LLC raised its holdings in shares of NuVasive by 65.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,963 shares of the medical device company’s stock valued at $305,000 after purchasing an additional 1,563 shares in 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.

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