Piper Jaffray Companies Reaffirms Buy Rating for NuVasive (NUVA)

Piper Jaffray Companies reissued their buy rating on shares of NuVasive (NASDAQ:NUVA) in a report published on Tuesday. The brokerage currently has a $90.00 price target on the medical device company’s stock.

Several other analysts also recently issued reports on the company. Needham & Company LLC upgraded NuVasive from an underperform rating to a buy rating and set a $71.00 price objective on the stock in a report on Thursday, January 4th. BidaskClub downgraded NuVasive from a hold rating to a sell rating in a report on Wednesday, December 27th. Zacks Investment Research upgraded NuVasive from a sell rating to a hold rating in a report on Tuesday, December 19th. BMO Capital Markets restated a buy rating and set a $70.00 price objective on shares of NuVasive in a report on Thursday, December 14th. Finally, BTIG Research set a $74.00 price objective on NuVasive and gave the stock a buy rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $72.33.

Shares of NuVasive (NUVA) traded up $0.84 during midday trading on Tuesday, reaching $53.33. 1,564,831 shares of the company’s stock were exchanged, compared to its average volume of 1,453,759. The company has a quick ratio of 1.51, a current ratio of 2.85 and a debt-to-equity ratio of 0.76. The firm has a market cap of $2,730.00, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. NuVasive has a 52 week low of $49.25 and a 52 week high of $81.68.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The firm had revenue of $247.40 million for the quarter, compared to the consensus estimate of $255.70 million. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. sell-side analysts anticipate that NuVasive will post 1.91 EPS for the current year.

NuVasive declared that its Board of Directors has authorized a share repurchase plan on Tuesday, October 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the medical device company to reacquire shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares during the period. Howard Hughes Medical Institute increased its holdings in shares of NuVasive by 82.8% in the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after purchasing an additional 936 shares during the period. Shelton Capital Management acquired a new position in shares of NuVasive in the 2nd quarter valued at about $221,000. Zions Bancorporation acquired a new position in shares of NuVasive in the 3rd quarter valued at about $160,000. Finally, Verition Fund Management LLC acquired a new position in shares of NuVasive in the 2nd quarter valued at about $233,000.

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NuVasive Company Profile

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.

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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