NuVasive (NUVA) is Initiated by Aegis Capital to Buy, Price Target at $72

NuVasive (NUVA) was Initiated by Aegis Capital to “Buy” and the brokerage firm has set the Price Target at $72. Aegis Capital advised their investors in a research report released on Nov 30, 2016.

On the company’s financial health, NuVasive reported $0.40 EPS for the quarter, based on the information available during the earnings call on Oct 25, 2016. Analyst had a consensus estimate of $0.40. The company had revenue of $239.60 million for the quarter, compared to analysts expectations of $243.41 million. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.35 EPS.

NuVasive opened for trading at $64.5 and hit $66.02 on the upside on Tuesday, eventually ending the session at $65.43, with a gain of 2.12% or 1.36 points. The heightened volatility saw the trading volume jump to 8,01,337 shares. Company has a market cap of $3,294 M.

In a different news, on Nov 8, 2016, Michael D Ohalleran (director) purchased 4,200 shares at $58.26 per share price. According to the SEC, on Nov 2, 2016, Joan Stafslien (EVP and General Counsel) purchased 5,000 shares at $59.68 per share price. On Nov 2, 2016, Patrick Miles (director) purchased 16,967 shares at $58.34 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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