NuVasive (NUVA) Received its Third Buy in a Row
After Canaccord Genuity and BTIG gave NuVasive (NASDAQ: NUVA) a Buy rating last month, the company received another Buy, this time from Leerink Partners. Analyst Richard Newitter maintained a Buy rating on NuVasive today and set a price target of $65.00. The company’s shares closed last Thursday at $49.27.
According to TipRanks.com, Newitter is a 5-star analyst with an average return of 22.5% and a 67.7% success rate. Newitter covers the Healthcare sector, focusing on stocks such as Inspire Medical Systems, Zimmer Biomet Holdings, and Intuitive Surgical.
NuVasive has an analyst consensus of Moderate Buy, with a price target consensus of $64.78, implying a 36.6% upside from current levels. In a report issued on October 19, Stifel Nicolaus also initiated coverage with a Buy rating on the stock with a $64.00 price target.
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Based on NuVasive’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $204 million and GAAP net loss of $50.02 million. In comparison, last year the company earned revenue of $292 million and had a net profit of $14.96 million.
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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.