Analysts Set NuVasive, Inc. (NUVA) PT at $68.67
NuVasive, Inc. (NASDAQ:NUVA) has been given a consensus recommendation of “Hold” by the twenty brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $69.53.
A number of analysts have recently commented on the stock. JPMorgan Chase & Co. lowered shares of NuVasive from an “overweight” rating to a “neutral” rating and set a $74.00 price target for the company. in a research note on Thursday, June 21st. BidaskClub upgraded shares of NuVasive from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 14th. Needham & Company LLC reiterated a “buy” rating and issued a $80.00 price target (up from $67.00) on shares of NuVasive in a research note on Wednesday. BTIG Research assumed coverage on shares of NuVasive in a research note on Wednesday, August 1st. They issued a “buy” rating for the company. Finally, Piper Jaffray Companies lifted their price target on shares of NuVasive to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 14th.
Shares of NUVA stock traded up $1.45 during trading hours on Wednesday, reaching $69.01. The company had a trading volume of 484,700 shares, compared to its average volume of 721,507. NuVasive has a one year low of $44.62 and a one year high of $72.41. The firm has a market capitalization of $3.65 billion, a PE ratio of 35.86, a P/E/G ratio of 1.95 and a beta of 0.69.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund boosted its position in shares of NuVasive by 9.8% in the first quarter. New York State Common Retirement Fund now owns 64,120 shares of the medical device company’s stock worth $3,348,000 after purchasing an additional 5,700 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of NuVasive by 23.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,181,636 shares of the medical device company’s stock worth $61,693,000 after purchasing an additional 221,153 shares during the period. Asset Management One Co. Ltd. bought a new position in shares of NuVasive in the first quarter worth approximately $333,000. Principal Financial Group Inc. boosted its position in shares of NuVasive by 4.3% in the first quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock worth $11,826,000 after purchasing an additional 9,438 shares during the period. Finally, Northwestern Mutual Investment Management Company LLC boosted its position in shares of NuVasive by 57.1% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 10,488 shares of the medical device company’s stock worth $548,000 after purchasing an additional 3,813 shares during the period.
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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