Cantor Fitzgerald analyst Craig Bijou maintained a Hold rating on NuVasive (NUVA) today and set a price target of $58. The company’s shares opened today at $48.65, close to its 52-week low of $44.62.
Bijou observed:
“We maintain our Neutral rating and 12-month PT of $58 on shares of NUVA. NUVA has faced a growing number of challenges over the past 18 months, particularly in its US business which has pressured the stock. We think it is appropriate to remain on the sidelines, until we gain more confidence in the reacceleration of US growth and OM improvement. $58 price target is based on an 11x EV/EBITDA multiple on our 2019 EBITDA estimate.”
According to TipRanks.com, Bijou is a 1-star analyst with an average return of -2.4% and a 34.3% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.
Currently, the analyst consensus on NuVasive is a Strong Buy with an average price target of $68.67, implying a 41.2% upside from current levels. In a report issued on January 2, Morgan Stanley also maintained a Hold rating on the stock with a $57 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.
