NuVasive (NASDAQ:NUVA) Price Target Raised to $45.00 at Morgan Stanley

NuVasive (NASDAQ:NUVA - Get Free Report) had its target price increased by equities researchers at Morgan Stanley from $40.00 to $45.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an "equal weight" rating on the medical device company's stock. Morgan Stanley's price objective would indicate a potential upside of 16.37% from the stock's current price.

NUVA has been the topic of several other research reports. TheStreet raised NuVasive from a "d+" rating to a "c-" rating in a research note on Tuesday, April 11th. Barclays lifted their price target on NuVasive from $56.00 to $58.00 and gave the company an "overweight" rating in a research note on Friday. Truist Financial boosted their target price on NuVasive from $48.00 to $51.00 in a report on Wednesday, July 19th. Finally, StockNews.com initiated coverage on NuVasive in a report on Tuesday. They issued a "hold" rating on the stock. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $51.05.

Read Our Latest Research Report on NuVasive

NASDAQ NUVA traded down $1.33 on Friday, hitting $38.67. The company's stock had a trading volume of 631,865 shares, compared to its average volume of 864,390. The firm has a market cap of $2.03 billion, a P/E ratio of 77.26 and a beta of 1.07. The company has a current ratio of 1.20, a quick ratio of 0.68 and a debt-to-equity ratio of 0.51. The company's 50-day simple moving average is $40.86 and its 200 day simple moving average is $41.85. NuVasive has a 52-week low of $35.17 and a 52-week high of $54.62.

NuVasive (NASDAQ:NUVA - Get Free Report) last posted its earnings results on Wednesday, August 2nd. The medical device company reported $0.56 EPS for the quarter, hitting analysts' consensus estimates of $0.56. NuVasive had a return on equity of 12.29% and a net margin of 2.32%. The business had revenue of $317.80 million during the quarter, compared to analyst estimates of $322.53 million. During the same quarter last year, the company earned $0.47 EPS. The company's quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that NuVasive will post 2.19 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vise Technologies Inc. raised its stake in shares of NuVasive by 4.6% in the 4th quarter. Vise Technologies Inc. now owns 5,025 shares of the medical device company's stock valued at $207,000 after buying an additional 223 shares in the last quarter. NorthCrest Asset Manangement LLC grew its stake in NuVasive by 2.1% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 13,880 shares of the medical device company's stock worth $572,000 after buying an additional 280 shares in the last quarter. Point72 Hong Kong Ltd raised its holdings in NuVasive by 28.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company's stock valued at $76,000 after buying an additional 297 shares during the last quarter. New York State Teachers Retirement System raised its holdings in NuVasive by 0.6% during the 1st quarter. New York State Teachers Retirement System now owns 53,062 shares of the medical device company's stock worth $2,192,000 after purchasing an additional 300 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in NuVasive by 0.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 44,520 shares of the medical device company's stock valued at $1,836,000 after purchasing an additional 313 shares during the period.

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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