NuVasive (NASDAQ:NUVA) had its price objective raised by equities research analysts at Cowen from $62.00 to $80.00 in a note issued to investors on Tuesday, The Fly reports. The brokerage currently has an “outperform” rating on the medical device company’s stock. Cowen’s price objective suggests a potential upside of 12.30% from the stock’s previous close. The analysts noted that the move was a valuation call.

NUVA has been the topic of several other research reports. Bank of America lowered NuVasive from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 27th. JPMorgan Chase & Co. lowered NuVasive from an “overweight” rating to a “neutral” rating and set a $74.00 target price on the stock. in a report on Thursday, June 21st. BidaskClub lowered NuVasive from a “hold” rating to a “sell” rating in a report on Wednesday, May 16th. BTIG Research started coverage on NuVasive in a report on Wednesday, August 1st. They set a “buy” rating on the stock. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $58.00 target price on shares of NuVasive in a report on Tuesday, July 31st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. NuVasive has an average rating of “Hold” and a consensus price target of $65.12.

NUVA opened at $71.24 on Tuesday. NuVasive has a 52-week low of $44.62 and a 52-week high of $71.64. The stock has a market cap of $3.57 billion, a P/E ratio of 37.30, a P/E/G ratio of 1.90 and a beta of 0.68.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, July 31st. The medical device company reported $0.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.58. NuVasive had a return on equity of 13.70% and a net margin of 3.96%. The business had revenue of $281.56 million for the quarter, compared to analyst estimates of $276.05 million. analysts expect that NuVasive will post 2.39 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Glenmede Trust Co. NA bought a new stake in NuVasive in the second quarter valued at approximately $12,955,000. Phocas Financial Corp. bought a new stake in NuVasive in the second quarter valued at approximately $5,262,000. HPM Partners LLC raised its stake in NuVasive by 55.9% in the second quarter. HPM Partners LLC now owns 15,095 shares of the medical device company’s stock valued at $787,000 after buying an additional 5,415 shares during the period. PEAK6 Investments L.P. bought a new stake in NuVasive in the second quarter valued at approximately $287,000. Finally, Marshall Wace LLP grew its position in shares of NuVasive by 1,995.5% in the second quarter. Marshall Wace LLP now owns 146,099 shares of the medical device company’s stock valued at $7,615,000 after purchasing an additional 139,127 shares during the last quarter.

About NuVasive

NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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