Needham analyst Michael Matson maintained a Hold rating on NuVasive (NUVA) today. The company’s shares closed yesterday at $60.60.
Matson noted:
“NUVA’s 1Q19 revenue and EPS beat consensus. Management reiterated its prior revenue and EPS guidance. Despite a somewhat tougher comp, organic growth improved to 6.4% in 1Q19 from 5.1% in 4Q18 due to stronger US International growth. Operating margin increased 240 bps Y/Y given gross margin improvement and operating leverage and was 260 bps above consensus. While we think the first quarter results are encouraging, management indicated that they still expect reinvestment to weigh on margins and we prefer to see evidence that NUVA can perform more consistently under its new CEO given its prior track record and we maintain our Hold rating.”
According to TipRanks.com, Matson is a 5-star analyst with an average return of 10.1% and a 61.2% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.
NuVasive has an analyst consensus of Moderate Buy, with a price target consensus of $62.86, a 3.7% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Hold rating on the stock with a $61 price target.
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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 719.1K.
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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.
