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NuVasive (NASDAQ:NUVA - Get Rating) had its target price reduced by stock analysts at Truist Financial to $63.00 in a note issued to investors on Friday, Stock Target Advisor reports. Truist Financial's price target would indicate a potential upside of 24.09% from the stock's previous close.
NUVA has been the topic of a number of other reports. Wells Fargo & Company assumed coverage on NuVasive in a research report on Monday, March 28th. They set an "overweight" rating and a $58.00 target price on the stock. StockNews.com began coverage on NuVasive in a research note on Thursday, March 31st. They issued a "hold" rating for the company. Needham & Company LLC reiterated a "buy" rating and issued a $64.00 price target on shares of NuVasive in a research note on Thursday, March 24th. Finally, Morgan Stanley decreased their price target on NuVasive from $62.00 to $54.00 and set an "equal weight" rating for the company in a research note on Friday, July 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $62.60.NuVasive Stock Down 1.0 %
Shares of NASDAQ NUVA traded down $0.49 during midday trading on Friday, reaching $50.77. 227,976 shares of the company's stock were exchanged, compared to its average volume of 376,004. NuVasive has a 52-week low of $45.45 and a 52-week high of $66.17. The stock has a market capitalization of $2.64 billion, a PE ratio of -67.69, a price-to-earnings-growth ratio of 1.98 and a beta of 1.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.88 and a current ratio of 3.18. The business's fifty day moving average price is $51.72 and its two-hundred day moving average price is $53.04.
NuVasive (NASDAQ:NUVA - Get Rating) last announced its earnings results on Wednesday, May 4th. The medical device company reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.16. NuVasive had a positive return on equity of 11.85% and a negative net margin of 3.23%. The business had revenue of $290.80 million for the quarter, compared to analyst estimates of $277.63 million. During the same period in the previous year, the company earned $0.37 earnings per share. The company's revenue for the quarter was up 7.2% compared to the same quarter last year. Analysts forecast that NuVasive will post 2.29 EPS for the current year. Hedge Funds Weigh In On NuVasive
Several hedge funds and other institutional investors have recently made changes to their positions in NUVA. Retirement Systems of Alabama boosted its position in shares of NuVasive by 1.3% during the fourth quarter. Retirement Systems of Alabama now owns 67,748 shares of the medical device company's stock worth $3,555,000 after buying an additional 851 shares during the period. New York State Teachers Retirement System boosted its position in shares of NuVasive by 15.6% during the fourth quarter. New York State Teachers Retirement System now owns 43,039 shares of the medical device company's stock worth $2,259,000 after buying an additional 5,822 shares during the period. WCM Investment Management LLC boosted its position in shares of NuVasive by 9.9% during the fourth quarter. WCM Investment Management LLC now owns 228,357 shares of the medical device company's stock worth $11,984,000 after buying an additional 20,619 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of NuVasive during the fourth quarter worth approximately $1,194,000. Finally, State of New Jersey Common Pension Fund D boosted 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 buying an additional 5,421 shares during the period. About NuVasive (Get Rating)
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.See AlsoGet a free copy of the StockNews.com research report on NuVasive (NUVA)MarketBeat: Week in Review 7/18 – 7/22Falling Copper Prices Weigh On Freeport McMoran's Earnings, But Long Term Fundamentals IntactVerizon Shares Drop On Earnings Miss, Lower GuidanceSnap Stock Falters As Growth Slows To Record LowLackluster Results Provide An Opportunity In Tractor Supply Company
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