BTIG Keeps a Buy Rating on NuVasive (NUVA)


BTIG analyst Ryan Zimmerman maintained a Buy rating on NuVasive (NUVA) yesterday and set a price target of $59. The company’s shares opened today at $54.06.

Zimmerman observed:

“M&A Premium in Shares Limits the Impact With the question around NUVA’s takeout speculation still lingering in shares, we believe the impact reset guidance will have on the stock tomorrow will be tempered. We suspect shares will be down slightly as some investors hoped to hear a positive affirmation around potential M&A. Takeout speculation aside, we view the top-line guidance as achievable (+3.5% – +5.5% reported, US Hardware +2.0% – +4.0%, US Surgical Support +1.0% – +3.0%, and Intl +12.0% – 14.0%, +14.0% – +16.0% xFx) but not a “kitchen sink” reset and combined with softening margins for FY19, we suspect investors will need to see NUVA deliver over the coming quarters before shares can begin to move higher.”

According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 34.9% and a 76.5% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, OrthoPediatrics Corp, and Stryker Corporation.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NuVasive with a $62.44 average price target, implying a 15.5% upside from current levels. In a report issued on February 10, Piper Jaffray also reiterated a Buy rating on the stock with a $70 price target.

See today’s analyst top recommended stocks >>

Based on NuVasive’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $15.92 million. In comparison, last year the company had a net profit of $23.96 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

NuVasive, Inc. engages in the development of minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. It offers cervical and spine fusion surgery, cervical plating, and posterior fixation products. The company was founded by Alexis V. Lukianov on July 21, 1997 and is headquartered in San Diego, CA.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts