Why Did BTIG Downgrade NuVasive’s Stock?
NuVasive (NUVA) received a Hold rating from BTIG analyst Ryan Zimmerman today. The company’s shares closed last Thursday at $49.27.
According to TipRanks.com, Zimmerman is a 5-star analyst with an average return of 10.6% and a 49.6% success rate. Zimmerman covers the Healthcare sector, focusing on stocks such as Tactile Systems Technology, Staar Surgical Company, and Zimmer Biomet Holdings.
NuVasive has an analyst consensus of Moderate Buy, with a price target consensus of $66.75, a 40.7% upside from current levels. In a report released today, Robert W. Baird also downgraded the stock to Hold with a $56.00 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.