NuVasive (NUVA) is Upgraded by JP Morgan to Overweight, Raises Price Target to $ 74

NuVasive (NUVA) was Upgraded by JP Morgan to ” Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 74 from a previous price target of $55 . Earlier the firm had a rating of “Neutral ” on the company shares. JP Morgan advised their investors in a research report released on Jul 13, 2016.

Many Wall Street Analysts have commented on NuVasive. Company shares were Upgraded by Barclays on May 27, 2016 to ” Overweight”, Firm has raised the Price Target to $ 63 from a previous price target of $58 .

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 opened for trading at $61.94 and hit $62.33 on the upside on Monday, eventually ending the session at $61.57, with a gain of 1.23% or 0.75 points. The heightened volatility saw the trading volume jump to 6,24,516 shares. Company has a market cap of $3,068 M.

In a different news, on Jun 17, 2016, Jason Hannon (EVP, International) sold 14,534 shares at $57.92 per share price. According to the SEC, on Jan 7, 2016, Patrick Miles (President and COO) sold 10,723 shares at $54.41 per share price. On Dec 7, 2015, Quentin S. Blackford (CFO and CAO) sold 15,000 shares at $51.10 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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