Analysts and Technical Update on NuVasive Inc (NASDAQ:NUVA)

NuVasive Inc (NASDAQ:NUVA) (Trend Analysis) shares were traded with thin volume. The stock closed last trading session at $59.69, up by 2.38%, with a volume of 556,766 shares against an average amount for the last three months of 713,961.

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NuVasive Inc (NASDAQ:NUVA) stock is currently trading 14.12% below its 52-week-high, 62.16% above its 52-week-low. The 1-year stock price history is in the range of $36.81 – $69.5. NuVasive Inc (NUVA) has a price to earnings ratio of 75.37 versus Healthcare sector average of 40.79. NUVA stock price has outperformed the Nasdaq by 7.9%. The Medical Instruments company is currently valued at $3.01 billion, and its share price closed the last trading session at $59.69. The stock has a 50-day moving average of $65.1 and a 200-day moving average of $60.6.

NuVasive Inc (NUVA) current short interest stands at 4.33 million shares. It has increased by 2% from the same period of last month. Around 9% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.69 million shares, the number of days required to cover the short positions stand at 2.6 days.

NUVA is forecasted to report earnings per share of $0.5 and a revenue of $264.81 million for the 4th Quarter of the fiscal year 2016. NuVasive Inc (NUVA) declared last quarter earnings on October 26. The Medical Instruments company announced last quarter earnings per share of $0.40 against a consensus Street estimate of $0.41, missing estimate by $0.01. The company posted a revenue of $239.6 million compared to an estimation of $243.8 million.

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There are currently eighteen analysts that cover NuVasive Inc stock. Of those eighteen, fourteen have a Buy rating, four have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $71.15.

A recent analyst activity consisted of Jefferies reiterating their Buy stance on October 26. Jefferies set their price target at $72. This corresponds to a 20.62% upside from the last closing price. On the date of report, the stock closed at $58.84.

Piper Jaffray reiterated their Overweight stance on August 31. On the date of report, the stock closed at $65.47.

Another research firm was Brean Capital who reiterated their Buy stance on July 27. Brean Capital increased their price target on NuVasive Inc from $60 to $70. This translates to a 17.27% upside from the last closing price. On the date of report, the stock closed at $60.65.

Company snapshot

NuVasive, Inc. designs, develops, and markets products for the surgical treatment of spine disorders. The Company’s products include Maximum Access Surgery (MAS) and Fusion products.

Analysts and Technical Update on NuVasive Inc (NASDAQ:NUVA) was last modified: November 8th, 2016 by Steven Finley