NuVasive (NASDAQ:NUVA) Coverage Initiated at StockNews.com

Posted by Defense World Staff on Jun 6th, 2023

Stock analysts at StockNews.com began coverage on shares of NuVasive (NASDAQ:NUVA – Get Rating) in a research note issued on Tuesday. The brokerage set a “hold” rating on the medical device company’s stock.

Several other brokerages have also commented on NUVA. TheStreet raised shares of NuVasive from a “d+” rating to a “c-” rating in a report on Tuesday, April 11th. Citigroup cut shares of NuVasive from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $63.00 to $52.00 in a research note on Friday, February 10th. Barclays lifted their target price on shares of NuVasive from $53.00 to $56.00 in a research note on Friday, May 12th. Morgan Stanley lifted their target price on shares of NuVasive from $44.00 to $44.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Finally, Piper Sandler cut shares of NuVasive from an “overweight” rating to a “neutral” rating in a research note on Thursday, February 9th. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $50.98.

NuVasive Price Performance

Shares of NASDAQ NUVA opened at $38.97 on Tuesday. The firm has a market cap of $2.04 billion, a PE ratio of 114.62, a PEG ratio of 0.90 and a beta of 1.08. The firm has a fifty day moving average of $41.06 and a 200 day moving average of $41.57. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.68 and a current ratio of 1.20. NuVasive has a one year low of $35.17 and a one year high of $54.91.

NuVasive (NASDAQ:NUVA – Get Rating) last issued its quarterly earnings results on Wednesday, May 10th. The medical device company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. The company had revenue of $307.71 million during the quarter, compared to analyst estimates of $298.43 million. NuVasive had a net margin of 1.66% and a return on equity of 11.82%. During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, research analysts predict that NuVasive will post 2.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NUVA. Point72 Asset Management L.P. acquired a new position in shares of NuVasive during the 4th quarter valued at about $33,763,000. Norges Bank acquired a new position in NuVasive in the fourth quarter valued at about $32,897,000. Burgundy Asset Management Ltd. acquired a new position in NuVasive in the first quarter valued at about $32,228,000. Two Sigma Advisers LP lifted its position in NuVasive by 198.1% in the first quarter. Two Sigma Advisers LP now owns 999,100 shares of the medical device company’s stock valued at $41,273,000 after buying an additional 663,900 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in NuVasive by 25.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 3,219,514 shares of the medical device company’s stock valued at $132,773,000 after buying an additional 647,625 shares during the last quarter.

NuVasive Company Profile

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NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.

NuVasive (NASDAQ:NUVA) Coverage Initiated at StockNews.com

NuVasive Price Performance

Institutional Inflows and Outflows

NuVasive Company Profile

Further Reading

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