NuVasive (NUVA) Downgraded to “Hold” at Jefferies Financial Group

Jefferies Financial Group downgraded shares of NuVasive (NASDAQ:NUVA) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Marketbeat reports. The firm currently has $60.00 price target on the medical device company’s stock.

Several other research firms have also recently commented on NUVA. Needham & Company LLC reiterated a buy rating and set a $80.00 target price (up from $67.00) on shares of NuVasive in a research note on Wednesday, October 17th. ValuEngine upgraded NuVasive from a hold rating to a buy rating in a research note on Wednesday, November 21st. UBS Group began coverage on NuVasive in a research note on Tuesday, November 27th. They set a sell rating and a $54.00 target price for the company. Royal Bank of Canada increased their target price on NuVasive to $70.00 and gave the company an outperform rating in a research note on Tuesday, November 27th. Finally, Cantor Fitzgerald reiterated a hold rating and set a $58.00 target price on shares of NuVasive in a research note on Friday, October 19th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $63.78.

NuVasive stock opened at $58.08 on Tuesday. The company has a market cap of $2.55 billion, a PE ratio of 30.41, a price-to-earnings-growth ratio of 1.33 and a beta of 1.12. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.45 and a quick ratio of 1.83. NuVasive has a 52 week low of $43.51 and a 52 week high of $72.41.

In related news, insider Matthew Link sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $62.01, for a total transaction of $74,412.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last three months, insiders have sold 8,671 shares of company stock worth $538,741. Corporate insiders own 0.95% of the company’s stock.

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc raised its position in shares of NuVasive by 2.3% during the 3rd quarter. Vanguard Group Inc now owns 4,660,775 shares of the medical device company’s stock valued at $330,822,000 after acquiring an additional 103,225 shares in the last quarter. Vanguard Group Inc. increased its position in NuVasive by 2.3% in the third quarter. Vanguard Group Inc. now owns 4,660,775 shares of the medical device company’s stock worth $330,822,000 after buying an additional 103,225 shares during the period. Eagle Asset Management Inc. increased its position in NuVasive by 10.1% in the third quarter. Eagle Asset Management Inc. now owns 1,395,940 shares of the medical device company’s stock worth $99,083,000 after buying an additional 127,979 shares during the period. Fisher Asset Management LLC increased its position in NuVasive by 1.2% in the fourth quarter. Fisher Asset Management LLC now owns 1,272,638 shares of the medical device company’s stock worth $63,072,000 after buying an additional 15,359 shares during the period. Finally, Victory Capital Management Inc. increased its position in NuVasive by 100.0% in the third quarter. Victory Capital Management Inc. now owns 1,000,605 shares of the medical device company’s stock worth $71,023,000 after buying an additional 500,395 shares during the period.

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.

Recommended Story: What are the economic characteristics of a bear market?

Analyst Recommendations for NuVasive (NASDAQ:NUVA)

Receive News & Ratings for NuVasive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply