NuVasive (NUVA) – Analysts’ Weekly Ratings Updates

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A number of research firms have changed their ratings and price targets for NuVasive (NASDAQ: NUVA):

  • 8/16/2018 – NuVasive had its price target raised by analysts at BTIG Research to $72.00. They now have a “buy” rating on the stock.
  • 8/14/2018 – NuVasive had its price target raised by analysts at Piper Jaffray Companies to $75.00. They now have an “overweight” rating on the stock.
  • 8/10/2018 – NuVasive was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/3/2018 – NuVasive was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/2/2018 – NuVasive was upgraded by analysts at TheStreet from a “c+” rating to a “b-” rating.
  • 8/1/2018 – NuVasive had its price target lowered by analysts at Needham & Company LLC from $69.00 to $67.00. They now have a “buy” rating on the stock.
  • 8/1/2018 – NuVasive is now covered by analysts at BTIG Research. They set a “buy” rating on the stock.
  • 7/31/2018 – NuVasive had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $58.00 price target on the stock. They wrote, “: We maintain our Neutral rating on NUVA, but raise our PT to $58 from $54, as we see less downside risk to the stock than what we thought heading into 2Q. Although we are encouraged by the better-than-expected organic top-line growth in 2Q, we note that it is only one quarter. That said, NUVA’s 2H comps are significantly easier, particularly in the US, and suggest that NUVA could sustain organic growth at its 2Q level in 2H. NUVA’s guidance implies 2H organic growth of 6%+, a meaningful step up from 1H (+3%). Given the repeated delays in realizing GM improvement from the West Carrollton facility, we continue to see risk in NUVA’s ability to deliver on its 2018 operating margin guidance (OM).””
  • 7/30/2018 – NuVasive was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 7/3/2018 – NuVasive was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “NuVasive has underperformed its industry over the past six months. We note that, the company saw softness in U.S. Spinal Hardware and U.S. Surgical Support businesses in the last reported quarter. Headwinds like Margin drag, pricing pressure, reimbursement issues and competitive landscape are major downsides. However, the international business registering more than 20% growth for the sixth consecutive quarter buoys optimism. Further, efforts like the addition of Lateral Single-Position Surgery to expand its lateral procedural solutions offerings will help the company rebound in the rest of the year. The company also expects to see a 400 bps improvement in gross margins on increasing production in its Ohio manufacturing facility in the second half of 2018. Moreover, we are upbeat about the integration synergy of recently-completed buyout of SafePassage.”
  • 6/28/2018 – NuVasive was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/27/2018 – NuVasive was downgraded by analysts at Bank of America Corp from a “neutral” rating to an “underperform” rating.
  • 6/22/2018 – NuVasive was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/21/2018 – NuVasive was downgraded by analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating. They now have a $74.00 price target on the stock.

Shares of NASDAQ:NUVA opened at $69.96 on Monday. The company has a market capitalization of $3.32 billion, a P/E ratio of 36.63, a PEG ratio of 1.77 and a beta of 0.58. NuVasive, Inc. has a 52 week low of $44.62 and a 52 week high of $70.02.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, July 31st. The medical device company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $281.56 million during the quarter, compared to the consensus estimate of $276.05 million. NuVasive had a net margin of 3.96% and a return on equity of 13.70%. research analysts forecast that NuVasive, Inc. will post 2.39 earnings per share for the current year.

Several large investors have recently modified their holdings of the stock. Champlain Investment Partners LLC lifted its position in shares of NuVasive by 9.6% in the 1st quarter. Champlain Investment Partners LLC now owns 3,140,110 shares of the medical device company’s stock valued at $163,945,000 after acquiring an additional 273,863 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in NuVasive by 10.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,303,103 shares of the medical device company’s stock worth $67,919,000 after buying an additional 121,467 shares in the last quarter. Eagle Asset Management Inc. lifted its position in NuVasive by 12.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,267,961 shares of the medical device company’s stock worth $66,086,000 after buying an additional 143,926 shares in the last quarter. Anchor Capital Advisors LLC lifted its position in NuVasive by 1,205.1% in the 2nd quarter. Anchor Capital Advisors LLC now owns 983,977 shares of the medical device company’s stock worth $51,285,000 after buying an additional 908,582 shares in the last quarter. Finally, Hood River Capital Management LLC lifted its position in NuVasive by 261.3% in the 2nd quarter. Hood River Capital Management LLC now owns 866,653 shares of the medical device company’s stock worth $45,170,000 after buying an additional 626,770 shares in the last quarter.

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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