NuVasive, Inc. (NUVA) Receives $68.67 Average Target Price from Brokerages

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Shares of NuVasive, Inc. (NASDAQ:NUVA) have been given a consensus recommendation of “Hold” by the twenty ratings firms that are currently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and ten have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $68.67.

NUVA has been the topic of a number of research reports. Needham & Company LLC reduced their price objective on NuVasive from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, August 1st. Robert W. Baird raised NuVasive from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $60.00 to $82.00 in a research note on Thursday, September 27th. ValuEngine raised NuVasive from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Zacks Investment Research downgraded NuVasive from a “hold” rating to a “sell” rating in a research note on Tuesday, July 3rd. Finally, Morgan Stanley lifted their price objective on NuVasive from $55.00 to $77.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th.

NASDAQ NUVA traded up $0.06 during trading hours on Wednesday, reaching $65.81. The company’s stock had a trading volume of 4,040 shares, compared to its average volume of 725,689. NuVasive has a 1 year low of $44.62 and a 1 year high of $72.41. The stock has a market cap of $3.65 billion, a PE ratio of 34.06, a P/E/G ratio of 1.95 and a beta of 0.69.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, July 31st. The medical device company reported $0.58 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.58. NuVasive had a return on equity of 13.70% and a net margin of 3.96%. The company had revenue of $281.56 million for the quarter, compared to analysts’ expectations of $276.05 million. As a group, sell-side analysts predict that NuVasive will post 2.39 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. bought a new position in NuVasive in the 3rd quarter valued at $777,000. United Services Automobile Association grew its position in NuVasive by 289.8% in the 2nd quarter. United Services Automobile Association now owns 30,851 shares of the medical device company’s stock valued at $1,608,000 after acquiring an additional 22,937 shares during the last quarter. Northern Trust Corp grew its position in NuVasive by 2.6% in the 2nd quarter. Northern Trust Corp now owns 805,285 shares of the medical device company’s stock valued at $41,972,000 after acquiring an additional 20,070 shares during the last quarter. Glenmede Trust Co. NA bought a new position in NuVasive in the 2nd quarter valued at $12,955,000. Finally, Phocas Financial Corp. bought a new position in NuVasive in the 2nd quarter valued at $5,262,000.

NuVasive Company Profile

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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