BidaskClub downgraded shares of NuVasive (NASDAQ:NUVA) from a hold rating to a sell rating in a research note issued to investors on Saturday, BidAskClub reports.

Several other research analysts have also issued reports on the company. Morgan Stanley cut their price target on NuVasive from $82.00 to $63.00 and set an equal weight rating on the stock in a report on Friday, March 27th. UBS Group cut their price target on NuVasive from $65.00 to $55.00 and set a sell rating on the stock in a report on Thursday, May 7th. Zacks Investment Research lowered NuVasive from a buy rating to a hold rating and set a $52.00 target price on the stock. in a report on Tuesday, March 31st. Canaccord Genuity dropped their target price on NuVasive from $68.00 to $64.00 and set a buy rating on the stock in a report on Thursday, May 7th. Finally, Piper Sandler dropped their target price on NuVasive from $90.00 to $75.00 and set an overweight rating on the stock in a report on Thursday, May 7th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company’s stock. NuVasive has a consensus rating of Hold and a consensus target price of $70.35.

NASDAQ NUVA opened at $54.35 on Friday. The business has a 50 day simple moving average of $59.92 and a 200 day simple moving average of $64.36. The stock has a market capitalization of $2.64 billion, a P/E ratio of 47.26, a P/E/G ratio of 5.25 and a beta of 1.41. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.35 and a quick ratio of 0.94. NuVasive has a one year low of $28.55 and a one year high of $81.91.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Wednesday, May 6th. The medical device company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.07. The business had revenue of $259.88 million for the quarter, compared to analyst estimates of $262.32 million. NuVasive had a return on equity of 14.42% and a net margin of 5.30%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.53 earnings per share. Equities analysts expect that NuVasive will post 0.73 earnings per share for the current year.

In related news, President Matthew Link sold 3,000 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $67.00, for a total transaction of $201,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.97% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. FDx Advisors Inc. purchased a new stake in NuVasive in the first quarter worth $25,000. Altshuler Shaham Ltd increased its position in NuVasive by 182.7% in the fourth quarter. Altshuler Shaham Ltd now owns 424 shares of the medical device company’s stock worth $33,000 after buying an additional 274 shares during the last quarter. HighMark Wealth Management LLC purchased a new stake in NuVasive in the fourth quarter worth $38,000. Sowell Financial Services LLC increased its position in NuVasive by 53.4% in the first quarter. Sowell Financial Services LLC now owns 1,091 shares of the medical device company’s stock worth $55,000 after buying an additional 380 shares during the last quarter. Finally, Westside Investment Management Inc. purchased a new stake in NuVasive in the first quarter worth $75,000.

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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