NuVasive, Inc. (NASDAQ:NUVA) Receives Consensus Rating of “Hold” from Analysts

NuVasive, Inc. (NASDAQ:NUVAGet Rating) has been given a consensus rating of “Hold” by the thirteen research firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $63.40.

NUVA has been the topic of a number of research reports. Needham & Company LLC reissued a “buy” rating and issued a $64.00 target price on shares of NuVasive in a research note on Thursday, March 24th. Truist Financial initiated coverage on shares of NuVasive in a research note on Wednesday, April 13th. They issued a “buy” rating and a $65.00 target price on the stock. StockNews.com initiated coverage on shares of NuVasive in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company initiated coverage on shares of NuVasive in a research note on Monday, March 28th. They issued an “overweight” rating and a $58.00 target price on the stock.

NASDAQ:NUVA opened at $49.00 on Tuesday. The company has a quick ratio of 1.88, a current ratio of 3.18 and a debt-to-equity ratio of 1.09. The company has a market cap of $2.55 billion, a P/E ratio of -65.33, a P/E/G ratio of 1.36 and a beta of 1.11. NuVasive has a fifty-two week low of $45.45 and a fifty-two week high of $70.76. The firm’s 50 day moving average is $54.16 and its two-hundred day moving average is $53.26.

NuVasive (NASDAQ:NUVAGet Rating) last posted its quarterly earnings results on Wednesday, May 4th. The medical device company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $290.80 million for the quarter, compared to the consensus estimate of $277.63 million. NuVasive had a negative net margin of 3.23% and a positive return on equity of 11.85%. NuVasive’s revenue was up 7.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. Research analysts forecast that NuVasive will post 2.31 earnings per share for the current fiscal year.

In related news, CEO James Christopher Barry sold 5,000 shares of the firm’s stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $58.00, for a total transaction of $290,000.00. Following the completion of the sale, the chief executive officer now directly owns 50,218 shares of the company’s stock, valued at approximately $2,912,644. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.47% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in NUVA. Barclays PLC grew its holdings in NuVasive by 154.8% during the 4th quarter. Barclays PLC now owns 1,149,637 shares of the medical device company’s stock worth $60,334,000 after acquiring an additional 698,360 shares in the last quarter. Frontier Capital Management Co. LLC acquired a new position in NuVasive during the 4th quarter worth $30,960,000. Norges Bank acquired a new position in NuVasive during the 4th quarter worth $27,018,000. Polar Asset Management Partners Inc. acquired a new position in NuVasive during the 1st quarter worth $27,627,000. Finally, Nuance Investments LLC acquired a new position in NuVasive during the 1st quarter worth $22,099,000.

About NuVasive (Get Rating)

NuVasive, Inc, a medical technology company, develops, manufactures, and sells procedural solutions for spine surgery. It provides surgical access instruments, including Maxcess integrated split-blade retractor system that enable less-invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by enhancing the osseointegration and biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and fixation system that facilitates the preservation and restoration of patient alignment.

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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