NuVasive, Inc. (NASDAQ:NUVA) shares saw an uptick in trading volume on Monday . 4,891,708 shares changed hands during mid-day trading, an increase of 494% from the previous session’s volume of 823,993 shares.The stock last traded at $56.12 and had previously closed at $49.55.
A number of research firms have commented on NUVA. Needham & Company LLC reaffirmed a “buy” rating and issued a $80.00 target price (up previously from $67.00) on shares of NuVasive in a research report on Wednesday, October 17th. ValuEngine upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a research note on Wednesday, November 21st. UBS Group began coverage on shares of NuVasive in a research note on Tuesday, November 27th. They set a “sell” rating and a $54.00 price target on the stock. Royal Bank of Canada boosted their price target on shares of NuVasive to $70.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 27th. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $58.00 price target on shares of NuVasive in a research note on Friday, October 19th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $64.00.
The company has a current ratio of 3.45, a quick ratio of 1.83 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $2.55 billion, a price-to-earnings ratio of 29.38, a P/E/G ratio of 1.33 and a beta of 1.12.
In related news, insider Matthew Link sold 4,889 shares of the company’s stock in a transaction that occurred on Wednesday, November 21st. The shares were sold at an average price of $62.22, for a total transaction of $304,193.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold 8,671 shares of company stock worth $538,741 over the last 90 days. Insiders own 0.95% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Contravisory Investment Management Inc. purchased a new position in NuVasive in the fourth quarter valued at approximately $114,000. Retirement Systems of Alabama boosted its holdings in shares of NuVasive by 0.3% in the fourth quarter. Retirement Systems of Alabama now owns 66,672 shares of the medical device company’s stock valued at $3,304,000 after acquiring an additional 219 shares during the period. Redmile Group LLC acquired a new stake in shares of NuVasive in the third quarter valued at approximately $31,210,000. GSA Capital Partners LLP acquired a new stake in shares of NuVasive in the third quarter valued at approximately $209,000. Finally, United Services Automobile Association boosted its holdings in shares of NuVasive by 289.8% in the second quarter. United Services Automobile Association now owns 30,851 shares of the medical device company’s stock valued at $1,608,000 after acquiring an additional 22,937 shares during the period.
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NuVasive Company Profile (NASDAQ:NUVA)
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 product is 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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