NuVasive Inc. (NASDAQ:NUVA) had its target price raised by Barclays PLC from $71.00 to $74.00 in a research note issued on Monday. The firm currently has an “overweight” rating on the medical device company’s stock. Barclays PLC’s price target points to a potential upside of 10.10% from the company’s previous close.
NUVA has been the topic of a number of other reports. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $70.00 price objective on shares of NuVasive in a report on Thursday, September 1st. Jefferies Group upped their price objective on NuVasive from $63.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. TheStreet raised NuVasive from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 26th. Zacks Investment Research raised NuVasive from a “hold” rating to a “strong-buy” rating and set a $70.00 price objective on the stock in a report on Thursday, July 28th. Finally, Brean Capital upped their price objective on NuVasive from $60.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the stock. NuVasive presently has an average rating of “Buy” and an average target price of $66.36.
NuVasive (NASDAQ:NUVA) traded up 1.21% on Monday, hitting $68.02. The company had a trading volume of 458,696 shares. The firm has a market capitalization of $3.42 billion, a PE ratio of 70.56 and a beta of 0.51. The firm has a 50-day moving average price of $65.88 and a 200-day moving average price of $58.58. NuVasive has a 12-month low of $36.81 and a 12-month high of $69.50.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. NuVasive had a return on equity of 10.57% and a net margin of 5.28%. The business had revenue of $236.50 million for the quarter, compared to analysts’ expectations of $232.86 million. During the same quarter in the prior year, the business earned $0.31 EPS. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. On average, equities research analysts anticipate that NuVasive will post $1.65 earnings per share for the current fiscal year.
In other NuVasive news, Director Lesley H. Howe sold 3,602 shares of the stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $62.44, for a total value of $224,908.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jason Hannon sold 11,184 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.70, for a total value of $701,236.80. The disclosure for this sale can be found here. 4.70% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. increased its position in NuVasive by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,884 shares of the medical device company’s stock valued at $113,000 after buying an additional 820 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in NuVasive during the second quarter valued at approximately $115,000. LS Investment Advisors LLC increased its position in NuVasive by 7.8% in the second quarter. LS Investment Advisors LLC now owns 2,097 shares of the medical device company’s stock valued at $125,000 after buying an additional 151 shares in the last quarter. Seven Eight Capital LLC purchased a new position in NuVasive during the first quarter valued at approximately $117,000. Finally, Smith Asset Management Group LP increased its position in NuVasive by 7,796.8% in the second quarter. Smith Asset Management Group LP now owns 2,448 shares of the medical device company’s stock valued at $146,000 after buying an additional 2,417 shares in the last quarter.
NuVasive Company Profile
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
Receive News & Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.