NuVasive (NASDAQ:NUVA) Lowered to “Sell” at BidaskClub

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BidaskClub lowered shares of NuVasive (NASDAQ:NUVA) from a hold rating to a sell rating in a research report report published on Saturday morning, BidAskClub reports.

NUVA has been the subject of a number of other reports. Piper Jaffray Companies set a $72.00 target price on shares of NuVasive and gave the company a buy rating in a research report on Wednesday, July 31st. Morgan Stanley upped their price objective on NuVasive from $57.00 to $67.00 and gave the company an equal weight rating in a research note on Wednesday, July 31st. BTIG Research set a $71.00 price objective on NuVasive and gave the company a buy rating in a report on Friday, August 9th. Zacks Investment Research raised NuVasive from a hold rating to a buy rating and set a $59.00 price objective for the company in a report on Wednesday, July 10th. Finally, Cowen set a $75.00 target price on NuVasive and gave the stock a buy rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the stock. NuVasive has an average rating of Hold and a consensus price target of $67.14.

Shares of NASDAQ:NUVA opened at $63.68 on Friday. The company’s 50-day moving average is $63.49 and its 200 day moving average is $59.54. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.99 and a current ratio of 3.60. The company has a market capitalization of $3.25 billion, a P/E ratio of 28.56, a price-to-earnings-growth ratio of 2.11 and a beta of 1.20. NuVasive has a fifty-two week low of $43.51 and a fifty-two week high of $72.41.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, July 30th. The medical device company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. The business had revenue of $292.11 million during the quarter, compared to the consensus estimate of $290.59 million. NuVasive had a net margin of 4.65% and a return on equity of 15.09%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.58 earnings per share. As a group, research analysts predict that NuVasive will post 2.32 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the stock. Carlson Capital L P purchased a new position in NuVasive in the 2nd quarter valued at approximately $9,671,000. Zions Bancorporation N.A. boosted its stake in NuVasive by 6.1% in the 2nd quarter. Zions Bancorporation N.A. now owns 3,280 shares of the medical device company’s stock worth $192,000 after purchasing an additional 190 shares during the period. Gamco Investors INC. ET AL boosted its stake in NuVasive by 2.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 163,012 shares of the medical device company’s stock worth $9,257,000 after purchasing an additional 3,165 shares during the period. Rockefeller Capital Management L.P. boosted its stake in NuVasive by 251.2% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock worth $114,000 after purchasing an additional 1,432 shares during the period. Finally, Keybank National Association OH grew its holdings in NuVasive by 7.6% during the 2nd quarter. Keybank National Association OH now owns 14,705 shares of the medical device company’s stock valued at $861,000 after buying an additional 1,036 shares in the last quarter. Institutional investors own 98.87% of the company’s stock.

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 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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