The NuVasive, Inc. (NASDAQ:NUVA) Downgraded to C+ at TheStreet

The NuVasive, Inc. (NASDAQ:NUVA) Downgraded to C+ at TheStreet

NuVasive, Inc. (NASDAQ:NUVA) was downgraded by analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Friday, October 13th.

A number of other equities analysts have also recently commented on NUVA. Gabelli reiterated a “buy” rating on shares of NuVasive in a research report on Monday, July 31st. BidaskClub lowered shares of NuVasive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Needham & Company LLC reissued a “hold” rating on shares of NuVasive in a report on Friday, July 28th. Piper Jaffray Companies reissued a “buy” rating and issued a $90.00 price target on shares of NuVasive in a report on Thursday, September 28th. Finally, Barclays PLC reissued a “buy” rating and issued a $80.00 price target on shares of NuVasive in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $72.67.

NuVasive (NASDAQ NUVA) traded down 1.39% on Friday, hitting $58.34. The stock had a trading volume of 503,133 shares. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 91.87 and a beta of 1.03. The company’s 50 day moving average is $55.70 and its 200-day moving average is $68.25. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68.

NuVasive (NASDAQ:NUVA) last issued its earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $255.70 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.40 EPS. On average, analysts forecast that NuVasive will post $1.99 EPS for the current year.

NuVasive announced that its board has approved a stock repurchase program on Tuesday, October 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the medical device company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.

In other NuVasive news, EVP Peter Michael Leddy acquired 7,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were acquired at an average price of $63.88 per share, with a total value of $501,458.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gregory T. Lucier acquired 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $61.52 per share, for a total transaction of $123,040.00. The disclosure for this purchase can be found here. Insiders have purchased 14,850 shares of company stock worth $955,598 in the last three months. 1.20% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the stock. First Trust Advisors LP boosted its stake in NuVasive by 17.7% during the second quarter. First Trust Advisors LP now owns 36,597 shares of the medical device company’s stock worth $2,815,000 after acquiring an additional 5,510 shares in the last quarter. Bank of Montreal Can boosted its stake in NuVasive by 23.6% during the second quarter. Bank of Montreal Can now owns 5,680 shares of the medical device company’s stock worth $437,000 after acquiring an additional 1,086 shares in the last quarter. Vanguard Group Inc. boosted its stake in NuVasive by 1.3% during the second quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after acquiring an additional 53,769 shares in the last quarter. Teachers Advisors LLC boosted its stake in NuVasive by 205.8% during the first quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock worth $18,636,000 after acquiring an additional 167,950 shares in the last quarter. Finally, Geneva Advisors LLC boosted its stake in NuVasive by 3.3% during the second quarter. Geneva Advisors LLC now owns 17,369 shares of the medical device company’s stock worth $1,336,000 after acquiring an additional 555 shares in the last quarter.

About NuVasive

Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.

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