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

Shares of NuVasive, Inc. (NASDAQ:NUVA) have been given a consensus recommendation of “Hold” by the fifteen analysts that are currently covering the company, reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $67.17.

Several research firms have recently issued reports on NUVA. JPMorgan Chase & Co. dropped their price objective on shares of NuVasive from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Thursday. Needham & Company LLC reiterated a “buy” rating on shares of NuVasive in a research report on Thursday, July 29th.

Shares of NUVA opened at $56.37 on Thursday. The company has a current ratio of 3.95, a quick ratio of 2.30 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average is $59.66 and its two-hundred day moving average is $64.58. NuVasive has a twelve month low of $43.11 and a twelve month high of $72.61. The firm has a market capitalization of $2.91 billion, a P/E ratio of 2,819.91, a PEG ratio of 3.08 and a beta of 1.32.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Wednesday, July 28th. The medical device company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.17. NuVasive had a net margin of 0.16% and a return on equity of 12.47%. The company had revenue of $294.83 million for the quarter, compared to the consensus estimate of $286.17 million. Analysts predict that NuVasive will post 2.31 EPS for the current year.

A number of institutional investors have recently made changes to their positions in NUVA. Crossmark Global Holdings Inc. grew its stake in NuVasive by 145.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 9,050 shares of the medical device company’s stock valued at $207,000 after purchasing an additional 5,360 shares during the period. Parametric Portfolio Associates LLC grew its position in NuVasive by 5.0% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 72,815 shares of the medical device company’s stock worth $4,935,000 after acquiring an additional 3,449 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in NuVasive in the 2nd quarter worth approximately $239,000. Marshall Wace LLP lifted its stake in shares of NuVasive by 803.3% in the 2nd quarter. Marshall Wace LLP now owns 46,675 shares of the medical device company’s stock valued at $3,164,000 after purchasing an additional 41,508 shares during the period. Finally, KB Financial Partners LLC raised its stake in NuVasive by 36.7% during the second quarter. KB Financial Partners LLC now owns 4,449 shares of the medical device company’s stock valued at $302,000 after buying an additional 1,195 shares during the last quarter.

About NuVasive

NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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