NuVasive’s (NUVA) “Hold” Rating Reiterated at Cantor Fitzgerald

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Cantor Fitzgerald reiterated their hold rating on shares of NuVasive (NASDAQ:NUVA) in a research note published on Friday. They currently have a $58.00 price target on the medical device company’s stock.

“We maintain our Neutral rating and 12-month PT of $58 on shares of NUVA. NUVA has faced a growing number of challenges over the past 18 months, particularly in its US business which has pressured the stock. We think it is appropriate to remain on the sidelines, until we gain more confidence in the reacceleration of US growth and OM improvement. $58 price target is based on an 11x EV/EBITDA multiple on our 2019 EBITDA estimate.”,” Cantor Fitzgerald’s analyst commented.

A number of other research analysts have also commented on NUVA. JPMorgan Chase & Co. lowered shares of NuVasive from an overweight rating to a neutral rating and set a $74.00 price objective on the stock. 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, June 22nd. Bank of America lowered shares of NuVasive from a neutral rating to an underperform rating in a research note on Wednesday, June 27th. Zacks Investment Research lowered shares of NuVasive from a hold rating to a sell rating in a research note on Tuesday, July 3rd. Finally, ValuEngine upgraded shares of NuVasive from a strong sell rating to a sell rating in a research note on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the company. NuVasive presently has an average rating of Hold and a consensus price target of $68.56.

NASDAQ NUVA opened at $62.05 on Friday. The firm has a market capitalization of $3.19 billion, a price-to-earnings ratio of 30.27, a price-to-earnings-growth ratio of 1.70 and a beta of 0.69. NuVasive has a one year low of $44.62 and a one year high of $72.41.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, July 31st. The medical device company reported $0.58 EPS for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $281.56 million for the quarter, compared to analyst estimates of $276.05 million. NuVasive had a net margin of 3.96% and a return on equity of 13.70%. Equities research analysts anticipate that NuVasive will post 2.39 EPS for the current year.

Institutional investors have recently modified their holdings of the company. Strs Ohio grew its position in NuVasive by 45.5% during the second quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock worth $166,000 after buying an additional 1,000 shares during the period. Sun Life Financial INC acquired a new position in NuVasive during the second quarter worth about $201,000. Cubist Systematic Strategies LLC acquired a new position in NuVasive during the second quarter worth about $221,000. Hartford Investment Management Co. acquired a new position in NuVasive during the second quarter worth about $245,000. Finally, PEAK6 Investments L.P. acquired a new position in NuVasive during the second quarter worth about $287,000.

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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