NuVasive Updates 2017 Guidance; Announces $100 Mln Share Repurchase Program

Nuvasive Inc

Jefferies Group LLC reissued a buy rating and set a $84.00 price target on shares of NuVasive in a report on Friday, June 30th. Finally, Gabelli reissued a buy rating on shares of NuVasive in a report on Monday, July 31st. Royal Bank Of Canada reissued a "buy" rating and set a $75.00 target price on shares of NuVasive in a report on Tuesday, October 10th. Finally, Needham & Company LLC cut NuVasive from a "hold" rating to an "underperform" rating in a report on Monday, August 28th. The stock has an average rating of Buy and a consensus price target of $72.67. The 20-day Stochastic %k measure, which sits at 61.42%, tells a similar story, and suggests that NUVA now trades in neutral territory. It increased, as 47 investors sold C.H. Robinson Worldwide Inc shares while 131 reduced holdings.

NuVasive, Inc. (NASDAQ:NUVA), stock is trading $81.68 above the 52-week high and has displayed a high EPS growth of 19.10% in last 5 years. The firm is having a distance of 0.65% form 20 day moving average, SMA 50 of -6.25% and a SMA 200 of -21.86%.

The most current P/E ratio is 85.97 and the market cap of the company is 2.77B. The analysts estimated EPS for the higher end at 0.75 and lower end at 0.62 while the year ago reported earnings per share was 0.62.

Currently, the company expects to report revenue growth of 7.2%, lower than the earlier expected rate of 11.1% at CER to approximately $1.030 billion (earlier it was $1.065 billion) in 2017. A statistical measure of the dispersion of returns (volatility) for NUVA producing salvation in Investors mouth, it has week volatility of 2.78% and for the month booked as 3.44%. The firm's quarterly revenue was up 3.3% compared to the same quarter a year ago. Insiders owns 0.30% shares of the company. The 1 year EPS growth rate is -45.70%.

Nuvasive, Inc.is a medical device company. The correct version of this news story can be read at https://www.dispatchtribunal.com/2017/10/26/nuvasive-inc-nuva-given-a-78-00-price-target-at-j-p-morgan-chase-co.html. If you are viewing this news story on another domain, it was stolen and republished in violation of USA and worldwide copyright laws.

A few better-ranked stocks in the broader medical sector are PetMed Express, Inc.

NuVasive announced that its Board of Directors has initiated a share buyback program on Tuesday, October 24th that allows the company to repurchase $100.00 million in shares.

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In a note sent to clients and investors on 25 October, The Buy rating of Nuvasive Inc (NDAQ:NUVA) shares was reaffirmed by Canaccord Genuity, who now has a $70.00 target price per share on the stock. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

In other NuVasive news, CEO Gregory T. Lucier purchased 2,000 shares of the business's stock in a transaction on Tuesday, August 29th. The stock was bought at an average price of $63.88 per share, for a total transaction of $501,458.00.

Active and passive shareholders always require every bit of information available regarding his chosen security and this include keeping close watch on fundamental and technical data. The stock traded within a range of $56.93 and $59.93.

Since June 7, 2017, it had 0 insider purchases, and 1 insider sale for $1.18 million activity.

A number of hedge funds have recently modified their holdings of the business. Nuvasive Inc. had 4 analyst reports since April 12, 2017 according to SRatingsIntel. The overall volume in the last trading session was 4.36 million shares. The biggest holder now is Caisse De Depot Et Placement Du Quebec who owns 2,024,941 shares (3.99% of those outstanding), whilst Dr. Arda M. Minocherhomjee, PhD holds 798,834 (1.57% of shares outstanding) and Alexis V. Lukianov holds 328,367 (0.65% of shares outstanding). TIAA CREF Investment Management LLC boosted its stake in shares of NuVasive by 118.7% during the 2nd quarter.

Total shares held by institutions as of the most recent company filings are 58,154,178 with a reported 7,746,329 bought and 4,287,279 sold. NuVasive, Inc. (NASDAQ:NUVA) has a 20-Day average volume of 1.66 Million. This showed a surprise of 8.3% in the last quarter earnings. Finally, Public Employees Retirement System of OH grew its position in shares of NuVasive by 68.3% during the second quarter. Guggenheim Capital Ltd Liability Co holds 0.03% of its portfolio in NuVasive, Inc.

NUVASIVE is a medical device company focused on the design, development and marketing of products for the surgical treatment of spine disorders.

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