NuVasive (NUVA) Upgraded to “Sell” by BidaskClub
BidaskClub upgraded shares of NuVasive (NASDAQ:NUVA) from a strong sell rating to a sell rating in a research note published on Friday morning.
NUVA has been the subject of several other research reports. Royal Bank of Canada decreased their price objective on NuVasive from $75.00 to $70.00 and set an outperform rating for the company in a research note on Friday, November 10th. Needham & Company LLC upgraded 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. Piper Jaffray Companies reiterated a buy rating and issued a $90.00 price objective on shares of NuVasive in a research note on Tuesday, January 9th. Zacks Investment Research upgraded NuVasive from a sell rating to a hold rating in a research note on Tuesday, December 19th. Finally, BMO Capital Markets reissued a buy rating and set a $70.00 target price on shares of NuVasive in a research report on Thursday, December 14th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus price target of $68.19.
Shares of NuVasive (NASDAQ:NUVA) traded up $0.10 on Friday, hitting $48.03. The stock had a trading volume of 788,634 shares, compared to its average volume of 850,955. The company has a quick ratio of 1.51, a current ratio of 3.48 and a debt-to-equity ratio of 0.73. The stock has a market cap of $2,456.73, a PE ratio of 24.96, a PEG ratio of 1.30 and a beta of 0.50. NuVasive has a fifty-two week low of $44.62 and a fifty-two week high of $81.68.
Hedge funds and other institutional investors have recently modified their holdings of the company. Carillon Tower Advisers Inc. acquired a new position in NuVasive during the fourth quarter worth approximately $43,226,000. Consonance Capital Management LP acquired a new position in NuVasive during the fourth quarter worth approximately $39,481,000. State of Tennessee Treasury Department acquired a new position in NuVasive during the fourth quarter worth approximately $21,349,000. AXA increased its position in NuVasive by 80.1% during the fourth quarter. AXA now owns 800,475 shares of the medical device company’s stock worth $46,820,000 after buying an additional 355,908 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in NuVasive during the fourth quarter worth approximately $19,094,000.
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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