Cantor Fitzgerald analyst Craig Bijou maintained a Hold rating on NuVasive (NUVA) yesterday and set a price target of $50. The company’s shares closed yesterday at $55.42.
Bijou observed:
“: We maintain our Neutral rating on NUVA and our 12-month $50 PT. NUVA reported 4Q revenue of $288MM (+5.1% organic), in line with its pre-announcement. $0.69 beat FactSet consensus by $0.06, driven by a lower-than-expected tax rate. OM for the full year was 15.1%, at the lower end of NUVA’s lowered guidance (lowered OM guide by 120-170bps on 3Q call). 2019 revenue, OM and EPS guidance were all lower than Street expectations. The most- notable takeaway was that NUVA plans to unveil its spine robot at NASS later this year, but we think it is at least a couple of years away from a meaningful contribution.”
According to TipRanks.com, Bijou is a 4-star analyst with an average return of 8.5% and a 61.9% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NuVasive with a $62.44 average price target, representing a 12.7% upside. In a report issued on February 8, Needham also downgraded the stock to Hold.
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The company has a one-year high of $72.41 and a one-year low of $43.51. Currently, NuVasive has an average volume of 784.4K.
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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.
