BidaskClub Lowers NuVasive (NASDAQ:NUVA) to Sell

BidaskClub cut shares of NuVasive (NASDAQ:NUVA) from a hold rating to a sell rating in a report released on Tuesday morning, BidAskClub reports.

A number of other brokerages have also recently weighed in on NUVA. ValuEngine cut shares of USD Partners from a hold rating to a sell rating in a report on Friday, June 14th. Zacks Investment Research cut shares of Guaranty Federal Bancshares from a hold rating to a sell rating in a report on Tuesday, April 23rd. Cantor Fitzgerald restated a buy rating and issued a $25.00 price objective on shares of Menlo Therapeutics in a report on Thursday, May 2nd. Finally, BTIG Research cut shares of EVO Payments from a buy rating to a neutral rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $66.79.

Shares of NUVA stock opened at $57.15 on Tuesday. The company has a quick ratio of 1.96, a current ratio of 3.75 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $2.95 billion, a PE ratio of 25.63, a P/E/G ratio of 2.09 and a beta of 1.11. The company has a 50 day simple moving average of $58.38. NuVasive has a fifty-two week low of $43.51 and a fifty-two week high of $72.41.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Wednesday, May 1st. The medical device company reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12. The firm had revenue of $274.78 million during the quarter, compared to analysts’ expectations of $269.22 million. NuVasive had a net margin of 4.39% and a return on equity of 15.16%. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.39 earnings per share. Equities analysts forecast that NuVasive will post 2.28 earnings per share for the current fiscal year.

In other NuVasive news, President Matthew Link sold 10,100 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $62.00, for a total transaction of $626,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.97% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of NUVA. Royce & Associates LP acquired a new position in NuVasive during the 4th quarter worth approximately $25,000. Bessemer Group Inc. purchased a new stake in shares of NuVasive during the 4th quarter worth approximately $50,000. Knott David M purchased a new stake in shares of NuVasive during the 1st quarter worth approximately $114,000. Rockefeller Capital Management L.P. lifted its position in shares of NuVasive by 251.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock worth $114,000 after buying an additional 1,432 shares during the last quarter. Finally, Zions Bancorporation N.A. purchased a new stake in shares of NuVasive during the 1st quarter worth approximately $175,000.

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 products include 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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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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