NuVasive (NUVA) Lifted to “Sell” at BidaskClub

BidaskClub upgraded shares of NuVasive (NASDAQ:NUVA) from a strong sell rating to a sell rating in a report published on Friday, March 2nd.

Several other brokerages also recently commented on NUVA. Leerink Swann downgraded shares of NuVasive from an outperform rating to a market perform rating in a report on Thursday, February 1st. Canaccord Genuity decreased their target price on shares of NuVasive from $81.00 to $73.00 and set a buy rating on the stock in a research report on Tuesday, February 27th. Morgan Stanley restated an equal weight rating and issued a $55.00 price target (down from $67.00) on shares of NuVasive in a research report on Tuesday, February 27th. Piper Jaffray restated a buy rating and issued a $90.00 price target on shares of NuVasive in a research report on Tuesday, January 9th. Finally, Wells Fargo downgraded shares of NuVasive from an outperform rating to a market perform rating and set a $65.00 target price for the company. in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have given a buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $67.27.

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NuVasive (NUVA) traded down $0.49 during midday trading on Friday, hitting $50.66. 578,437 shares of the company were exchanged, compared to its average volume of 931,063. The firm has a market capitalization of $2,573.66, a price-to-earnings ratio of 32.90, a PEG ratio of 1.28 and a beta of 0.50. NuVasive has a fifty-two week low of $44.62 and a fifty-two week high of $81.68. The company has a quick ratio of 1.94, a current ratio of 3.48 and a debt-to-equity ratio of 0.73.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Monday, February 26th. The medical device company reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The firm had revenue of $271.70 million during the quarter, compared to analyst estimates of $272.11 million. NuVasive had a net margin of 8.06% and a return on equity of 13.40%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $0.53 EPS. analysts forecast that NuVasive will post 2.46 EPS for the current year.

In other news, CEO Gregory T. Lucier acquired 6,000 shares of NuVasive stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $50.30 per share, for a total transaction of $301,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the company. Icon Advisers Inc. Co. acquired a new stake in shares of NuVasive in the 3rd quarter valued at approximately $360,000. Sector Gamma AS acquired a new stake in NuVasive during the 3rd quarter worth approximately $10,149,000. GSA Capital Partners LLP boosted its position in NuVasive by 176.5% during the 3rd quarter. GSA Capital Partners LLP now owns 9,403 shares of the medical device company’s stock worth $521,000 after buying an additional 6,002 shares during the period. State of Tennessee Treasury Department acquired a new stake in NuVasive during the 4th quarter worth approximately $21,349,000. Finally, Alyeska Investment Group L.P. raised its holdings in NuVasive by 13.7% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,559,940 shares of the medical device company’s stock worth $86,514,000 after purchasing an additional 187,863 shares during the last quarter.

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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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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