BMO Capital Markets Lowers NuVasive (NUVA) Price Target to $68.00

NuVasive (NASDAQ:NUVA) had its target price decreased by BMO Capital Markets from $70.00 to $68.00 in a report issued on Wednesday morning. BMO Capital Markets currently has a market perform rating on the medical device company’s stock.

Several other research firms have also issued reports on NUVA. BidaskClub upgraded shares of NuVasive from a buy rating to a strong-buy rating in a report on Friday, September 14th. ValuEngine upgraded shares of NuVasive from a hold rating to a buy rating in a report on Wednesday, September 19th. Canaccord Genuity lifted their price objective on shares of NuVasive from $70.00 to $80.00 and gave the company a buy rating in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of NuVasive from a sell rating to a hold rating in a research note on Tuesday, August 21st. Finally, Cowen lifted their price objective on shares of NuVasive from $62.00 to $80.00 and gave the company an outperform rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $67.63.

NuVasive stock traded down $0.76 during mid-day trading on Wednesday, hitting $56.50. 882,827 shares of the stock were exchanged, compared to its average volume of 860,933. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.53 and a current ratio of 3.45. NuVasive has a 12 month low of $44.62 and a 12 month high of $72.41. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 27.03, a PEG ratio of 1.69 and a beta of 0.78.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Tuesday, October 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.06). NuVasive had a return on equity of 13.87% and a net margin of 2.24%. The firm had revenue of $271.30 million for the quarter, compared to the consensus estimate of $265.70 million. During the same quarter in the previous year, the business posted $0.52 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that NuVasive will post 2.18 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of NUVA. Guggenheim Capital LLC grew its position in NuVasive by 12.0% in the 1st quarter. Guggenheim Capital LLC now owns 12,026 shares of the medical device company’s stock valued at $627,000 after purchasing an additional 1,285 shares during the period. Legal & General Group Plc grew its position in NuVasive by 11.3% in the 1st quarter. Legal & General Group Plc now owns 51,828 shares of the medical device company’s stock valued at $2,706,000 after purchasing an additional 5,258 shares during the period. Xact Kapitalforvaltning AB grew its position in NuVasive by 33.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 6,716 shares of the medical device company’s stock valued at $351,000 after purchasing an additional 1,700 shares during the period. Principal Financial Group Inc. grew its position in NuVasive by 4.3% in the 1st quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock valued at $11,826,000 after purchasing an additional 9,438 shares during the period. Finally, DnB Asset Management AS grew its position in NuVasive by 8.6% in the 2nd quarter. DnB Asset Management AS now owns 174,600 shares of the medical device company’s stock valued at $9,100,000 after purchasing an additional 13,800 shares during the period.

About NuVasive

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.

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