Piper Sandler Lowers NuVasive (NASDAQ:NUVA) Price Target to $60.00

NuVasive (NASDAQ:NUVAGet Rating) had its price target reduced by stock analysts at Piper Sandler from $80.00 to $60.00 in a report issued on Thursday, Marketbeat reports. The firm presently has an “overweight” rating on the medical device company’s stock. Piper Sandler’s price target suggests a potential upside of 16.57% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Morgan Stanley lowered their price target on shares of NuVasive from $62.00 to $54.00 and set an “equal weight” rating on the stock in a report on Friday, July 15th. Truist Financial reduced their price objective on shares of NuVasive to $63.00 in a research note on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.75.

NuVasive Trading Up 0.9 %

Shares of NASDAQ NUVA opened at $51.47 on Thursday. NuVasive has a fifty-two week low of $45.45 and a fifty-two week high of $64.43. The company has a quick ratio of 1.88, a current ratio of 1.17 and a debt-to-equity ratio of 0.54. The firm’s 50-day simple moving average is $51.17 and its 200 day simple moving average is $52.84.

NuVasive (NASDAQ:NUVAGet Rating) last posted its earnings results on Wednesday, May 4th. The medical device company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.38 by $0.16. The firm had revenue of $290.80 million for the quarter, compared to analysts’ expectations of $277.63 million. NuVasive had a negative net margin of 3.41% and a positive return on equity of 11.12%. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 EPS. As a group, research analysts forecast that NuVasive will post 2.27 EPS for the current fiscal year.

Hedge Funds Weigh In On NuVasive

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strs Ohio bought a new stake in shares of NuVasive in the 2nd quarter worth approximately $73,000. Point72 Hong Kong Ltd boosted its position in shares of NuVasive by 28.3% during the first quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 297 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of NuVasive by 85.7% during the first quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company’s stock valued at $120,000 after purchasing an additional 973 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of NuVasive by 76.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,175 shares of the medical device company’s stock valued at $123,000 after purchasing an additional 942 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of NuVasive during the first quarter valued at approximately $189,000.

About NuVasive

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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.

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Analyst Recommendations for NuVasive (NASDAQ:NUVA)

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