ValuEngine Downgrades NuVasive (NUVA) to Hold

NuVasive (NASDAQ:NUVA) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Several other brokerages have also issued reports on NUVA. BidaskClub raised shares of NuVasive from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 14th. Canaccord Genuity raised their target price 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 raised shares of NuVasive from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Cowen raised their target price 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. Finally, Morgan Stanley raised their target price on shares of NuVasive from $55.00 to $77.00 and gave the company a “hold” rating in a research note on Tuesday, September 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $67.63.

Shares of NASDAQ NUVA opened at $56.17 on Thursday. The stock has a market capitalization of $3.19 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.67 and a beta of 0.69. NuVasive has a 1 year low of $44.62 and a 1 year high of $72.41.

NuVasive (NASDAQ:NUVA) last issued its 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). The business had revenue of $271.30 million during the quarter, compared to the consensus estimate of $265.70 million. NuVasive had a net margin of 3.96% and a return on equity of 13.70%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $0.52 EPS. On average, sell-side analysts expect that NuVasive will post 2.39 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in NUVA. Guggenheim Capital LLC boosted its stake in NuVasive by 12.0% during the 1st quarter. Guggenheim Capital LLC now owns 12,026 shares of the medical device company’s stock worth $627,000 after acquiring an additional 1,285 shares during the last quarter. Legal & General Group Plc boosted its stake in NuVasive by 11.3% during the 1st quarter. Legal & General Group Plc now owns 51,828 shares of the medical device company’s stock worth $2,706,000 after acquiring an additional 5,258 shares during the last quarter. Xact Kapitalforvaltning AB boosted its stake in NuVasive by 33.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,716 shares of the medical device company’s stock worth $351,000 after acquiring an additional 1,700 shares during the last quarter. Principal Financial Group Inc. boosted its stake in NuVasive by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock worth $11,826,000 after acquiring an additional 9,438 shares during the last quarter. Finally, DnB Asset Management AS boosted its stake in NuVasive by 8.6% during the 2nd quarter. DnB Asset Management AS now owns 174,600 shares of the medical device company’s stock worth $9,100,000 after acquiring an additional 13,800 shares during the last quarter.

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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