NuVasive (NUVA) is Upgraded by Barclays to Overweight, Raises Price Target to $ 63

NuVasive (NUVA) was Upgraded by Barclays to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 63 from a previous price target of $58 . Earlier the firm had a rating of “Equal Weight ” on the company shares. Barclays advised their investors in a research report released on May 27, 2016.

On the company’s financial health, NuVasive reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.27. The company had revenue of $215.10 million for the quarter, compared to analysts expectations of $205.44 million. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

NuVasive closed down -0.35 points or -0.65% at $53.8 with 2,58,366 shares getting traded on Wednesday. Post opening the session at $54.12, the shares hit an intraday low of $53.47 and an intraday high of $54.31 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Jan 7, 2016, Patrick Miles (President and COO) sold 10,723 shares at $54.41 per share price. According to the SEC, on Dec 7, 2015, Quentin S. Blackford (CFO and CAO) sold 15,000 shares at $51.10 per share price. On Oct 5, 2015, Matthew Link (President, U.S. Commercial) sold 1,714 shares at $50.72 per share price, according to the Form-4 filing with the securities and exchange commission.

Nuvasive Inc. is a global medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. Its marketed product portfolio is focused on applications for spine fusion surgery. Its product offering includes a minimally-disruptive surgical platform called Maximum Access Surgery (MAS). The MAS platform combines three categories of solutions that collectively minimize soft tissue disruption during spine fusion surgery provide visualization and are designed to enable reproducible outcomes for the surgeon and the patient. The platform includes the Company’s software-driven nerve detection and avoidance systems including NVM5 and NVJJB Intra-Operative Monitoring (IOM) services and support; MaXcess which is an integrated split-blade retractor system and a variety of implants and biologics.


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