Posted by admin on Aug 7th, 2022

NuVasive (NASDAQ:NUVA – Get Rating) had its price target upped by research analysts at Canaccord Genuity Group from $50.00 to $55.00 in a research note issued on Friday, The Fly reports. Canaccord Genuity Group’s target price indicates a potential upside of 6.86% from the company’s previous close.

A number of other brokerages have also commented on NUVA. Morgan Stanley cut their price target on shares of NuVasive from $62.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. Truist Financial cut their price target on shares of NuVasive to $63.00 in a report on Friday, July 22nd. Finally, Piper Sandler cut their price target on shares of NuVasive from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.75.

NASDAQ NUVA opened at $51.47 on Friday. The firm’s fifty day moving average price is $51.17 and its two-hundred day moving average price is $52.82. The stock has a market cap of $2.68 billion, a PE ratio of -64.34, a PEG ratio of 1.99 and a beta of 1.14. NuVasive has a fifty-two week low of $45.45 and a fifty-two week high of $64.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.88 and a current ratio of 1.17.

NuVasive (NASDAQ:NUVA – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The medical device company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.16. The company had revenue of $290.80 million for the quarter, compared to analyst estimates of $277.63 million. NuVasive had a negative net margin of 3.41% and a positive return on equity of 11.12%. NuVasive’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, equities analysts expect that NuVasive will post 2.27 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of NuVasive during the fourth quarter worth about $1,194,000. State of New Jersey Common Pension Fund D increased its position in shares of NuVasive by 12.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 50,752 shares of the medical device company’s stock worth $2,663,000 after acquiring an additional 5,421 shares in the last quarter. Yousif Capital Management LLC bought a new stake in shares of NuVasive during the fourth quarter worth about $1,389,000. FDx Advisors Inc. increased its position in shares of NuVasive by 25.0% during the fourth quarter. FDx Advisors Inc. now owns 4,795 shares of the medical device company’s stock worth $252,000 after acquiring an additional 960 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of NuVasive by 6.4% during the fourth quarter. New York State Common Retirement Fund now owns 303,267 shares of the medical device company’s stock worth $15,915,000 after acquiring an additional 18,187 shares in the last quarter.

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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