NuVasive Inc. (NUVA) Now Covered by Aegis
Equities research analysts at Aegis assumed coverage on shares of NuVasive Inc. (NASDAQ:NUVA) in a report released on Wednesday. The brokerage set a “buy” rating and a $72.00 price target on the medical device company’s stock. Aegis’ price objective points to a potential upside of 10.04% from the stock’s current price.
NUVA has been the subject of several other reports. Barclays PLC boosted their target price on NuVasive from $71.00 to $74.00 and gave the company an “overweight” rating in a report on Monday, October 10th. Jefferies Group reissued a “buy” rating on shares of NuVasive in a report on Wednesday, August 3rd. Piper Jaffray Cos. reissued an “overweight” rating and issued a $70.00 target price on shares of NuVasive in a report on Thursday, September 1st. Zacks Investment Research downgraded NuVasive from a “buy” rating to a “hold” rating in a report on Tuesday, October 25th. Finally, TheStreet downgraded NuVasive from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 25th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $66.83.
Shares of NuVasive (NASDAQ:NUVA) opened at 65.43 on Wednesday. NuVasive has a one year low of $36.81 and a one year high of $69.50. The firm has a 50-day moving average price of $62.89 and a 200 day moving average price of $61.83. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 82.61 and a beta of 0.98.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, October 25th. The medical device company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The business earned $239.60 million during the quarter, compared to analysts’ expectations of $243.49 million. NuVasive had a return on equity of 10.89% and a net margin of 4.06%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.35 EPS. Equities analysts forecast that NuVasive will post $1.64 earnings per share for the current fiscal year.
In other news, EVP Joan Stafslien purchased 5,000 shares of the stock in a transaction that occurred on Monday, October 31st. The shares were acquired at an average price of $59.68 per share, for a total transaction of $298,400.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Patrick Miles purchased 16,967 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was purchased at an average price of $58.97 per share, for a total transaction of $1,000,543.99. The disclosure for this purchase can be found here. 4.70% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in NUVA. ETRADE Capital Management LLC purchased a new stake in NuVasive during the third quarter worth $865,000. Sheets Smith Wealth Management purchased a new stake in NuVasive during the third quarter worth $531,000. Scout Investments Inc. boosted its stake in NuVasive by 92.4% in the third quarter. Scout Investments Inc. now owns 302,595 shares of the medical device company’s stock worth $20,171,000 after buying an additional 145,281 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in NuVasive by 2.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,895 shares of the medical device company’s stock worth $1,193,000 after buying an additional 380 shares in the last quarter. Finally, LPL Financial LLC purchased a new stake in NuVasive during the third quarter worth $251,000.
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.