Robert W. Baird downgraded shares of NuVasive (NASDAQ:NUVA) from an outperform rating to a neutral rating in a research report sent to investors on Monday morning, 24/7 WallStreet reports. Robert W. Baird currently has $66.00 target price on the medical device company’s stock.
A number of other research analysts have also issued reports on the company. ValuEngine lowered USD Partners from a hold rating to a sell rating in a research report on Friday, June 14th. BidaskClub lowered Westport Fuel Systems from a buy rating to a hold rating in a research report on Friday, July 19th. Zacks Investment Research lowered ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. Cantor Fitzgerald reiterated a buy rating and set a $25.00 target price on shares of Menlo Therapeutics in a research report on Thursday, May 2nd. Finally, BTIG Research lowered EVO Payments from a buy rating to a neutral rating in a research report on Monday, July 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. NuVasive has an average rating of Hold and a consensus price target of $65.64.
Shares of NASDAQ:NUVA opened at $58.16 on Monday. NuVasive has a 1 year low of $43.51 and a 1 year high of $72.41. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 26.08, a price-to-earnings-growth ratio of 2.17 and a beta of 1.12. 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 company’s 50 day simple moving average is $57.76.
NuVasive (NASDAQ:NUVA) last announced its earnings results on Wednesday, May 1st. The medical device company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.12. NuVasive had a return on equity of 15.16% and a net margin of 4.39%. The firm had revenue of $274.78 million for the quarter, compared to analyst estimates of $269.22 million. During the same quarter last year, the firm posted $0.39 EPS. The business’s revenue was up 5.5% on a year-over-year basis. As a group, analysts forecast that NuVasive will post 2.28 earnings per share for the current year.
In related news, President Matthew Link sold 10,100 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $62.00, for a total value of $626,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.97% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in NuVasive by 223.9% during the second quarter. SG Americas Securities LLC now owns 33,433 shares of the medical device company’s stock worth $1,957,000 after buying an additional 23,110 shares during the period. Rothschild & Co. Asset Management US Inc. increased its position in NuVasive by 9.6% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 159,044 shares of the medical device company’s stock worth $9,310,000 after buying an additional 13,895 shares during the period. Strs Ohio increased its position in NuVasive by 26.3% during the second quarter. Strs Ohio now owns 4,800 shares of the medical device company’s stock worth $280,000 after buying an additional 1,000 shares during the period. Arizona State Retirement System increased its position in NuVasive by 1.6% during the second quarter. Arizona State Retirement System now owns 37,658 shares of the medical device company’s stock worth $2,204,000 after buying an additional 580 shares during the period. Finally, Campbell Newman Asset Management Inc. increased its position in NuVasive by 7.4% during the second quarter. Campbell Newman Asset Management Inc. now owns 7,313 shares of the medical device company’s stock worth $428,000 after buying an additional 506 shares during the period.
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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