Morgan Stanley restated their equal weight rating on shares of NuVasive, Inc. (NASDAQ:NUVA) in a research note issued to investors on Friday, October 6th. They currently have a $70.00 target price on the medical device company’s stock, down from their previous target price of $81.00.
A number of other equities analysts have also weighed in on the company. Needham & Company LLC lowered NuVasive from a hold rating to an underperform rating in a research note on Monday, August 28th. BTIG Research assumed coverage on NuVasive in a research note on Thursday, September 7th. They set a buy rating and a $82.00 price target for the company. Cowen and Company reissued an outperform rating and set a $83.00 price target on shares of NuVasive in a research note on Monday, September 18th. BidaskClub raised NuVasive from a hold rating to a buy rating in a research note on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a buy rating and issued a $79.00 price objective on shares of NuVasive in a research note on Tuesday, October 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $75.77.
NuVasive (NASDAQ NUVA) opened at 54.18 on Friday. NuVasive has a 52 week low of $49.25 and a 52 week high of $81.68. The firm has a market cap of $2.75 billion, a P/E ratio of 85.32 and a beta of 1.03. The firm’s 50-day moving average price is $56.43 and its 200 day moving average price is $68.89.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.02. The firm had revenue of $260.60 million during the quarter, compared to analyst estimates of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. Equities analysts forecast that NuVasive will post $1.99 earnings per share for the current fiscal year.
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In other NuVasive news, Director Lesley H. Howe sold 3,970 shares of NuVasive stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $64.64, for a total transaction of $256,620.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Gregory T. Lucier acquired 5,000 shares of NuVasive stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $66.22 per share, with a total value of $331,100.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have acquired 14,850 shares of company stock valued at $955,598. 1.20% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in NUVA. Koch Industries Inc. increased its stake in shares of NuVasive by 26,406.7% in the 2nd quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock valued at $970,000 after purchasing an additional 978,631 shares in the last quarter. Voya Investment Management LLC increased its stake in NuVasive by 43.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after buying an additional 517,115 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in NuVasive by 118.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after buying an additional 296,715 shares in the last quarter. Wellington Management Group LLP purchased a new stake in NuVasive during the 1st quarter worth approximately $20,724,000. Finally, Renaissance Technologies LLC increased its stake in NuVasive by 450.6% during the 2nd quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock worth $24,221,000 after buying an additional 257,700 shares in the last quarter.
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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