Shares of NuVasive, Inc. (NASDAQ:NUVA – Get Rating) have received a consensus rating of "Hold" from the fifteen brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $61.75.
Several equities analysts recently weighed in on the stock. Morgan Stanley decreased their target price on shares of NuVasive from $62.00 to $54.00 and set an "equal weight" rating for the company in a research note on Friday, July 15th. Canaccord Genuity Group raised their target price on shares of NuVasive from $50.00 to $55.00 in a research note on Friday, August 5th. Piper Sandler decreased their target price on shares of NuVasive from $80.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, August 4th. Finally, Truist Financial decreased their target price on shares of NuVasive to $63.00 in a research note on Friday, July 22nd.
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NuVasive Price Performance
NASDAQ NUVA opened at $44.44 on Thursday. The company has a quick ratio of 0.70, a current ratio of 1.17 and a debt-to-equity ratio of 0.54. NuVasive has a 12-month low of $41.33 and a 12-month high of $63.46. The company has a market capitalization of $2.31 billion, a PE ratio of -55.55, a price-to-earnings-growth ratio of 1.72 and a beta of 1.18. The firm's 50 day moving average is $48.22 and its 200-day moving average is $51.35.
NuVasive (NASDAQ:NUVA – Get Rating) last released its earnings results on Wednesday, August 3rd. The medical device company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.08). NuVasive had a negative net
margin of 3.41% and a positive return on equity of 11.12%. The firm had revenue of $310.45 million during the quarter, compared to the consensus estimate of $305.83 million. Equities research analysts anticipate that NuVasive will post 2.23 earnings per share for the current fiscal year.
Institutional Investors Weigh In On NuVasive
A number of hedge funds and other institutional investors have recently modified their holdings of NUVA. Victory Capital Management Inc. lifted its holdings in shares of NuVasive by 1,364.3% during the second quarter. Victory Capital Management Inc. now owns 648,236 shares of the medical device company's stock worth $31,868,000 after buying an additional 603,967 shares in the last quarter. Polar Asset Management Partners Inc. acquired a new position in NuVasive in the first quarter valued at about $27,627,000. Nuance Investments LLC acquired a new position in NuVasive in the first quarter valued at about $22,099,000. Woodline Partners LP raised its stake in NuVasive by 102.6% in the second quarter. Woodline Partners LP now owns 665,010 shares of the medical device company's stock valued at $32,692,000 after purchasing an additional 336,741 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in NuVasive by 11.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,147,399 shares of the medical device company's stock valued at $112,696,000 after purchasing an additional 219,982 shares in the last quarter.
About NuVasive
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NuVasive, Inc, a medical technology company, develops, manufactures, and sells procedural solutions for spine surgery. It provides surgical access instruments, including Maxcess integrated split-blade retractor system that enable less-invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by enhancing the osseointegration and biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and fixation system that facilitates the preservation and restoration of patient alignment.
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