Cantor Fitzgerald Maintains Their Hold Rating on NuVasive (NUVA)

By Ryan Adsit

In a report released today, Craig Bijou from Cantor Fitzgerald maintained a Hold rating on NuVasive (NASDAQ: NUVA), with a price target of $58. The company’s shares opened today at $67.50.

Bijou noted:

“We maintain our Neutral rating and 12-month PT of $58 on shares of NUVA. NUVA has faced a growing number of challenges over the past 18 months, particularly in its US business which has pressured the stock. We think it is appropriate to remain on the sidelines, until we gain more confidence in the reacceleration of US growth and OM improvement. $58 price target is based on an 11x EV/EBITDA multiple on our 2019 EBITDA estimate.”

According to TipRanks.com, Bijou is a 5-star analyst with an average return of 18.3% and a 73.6% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Integra Lifesciences, and Wright Medical Group.

Currently, the analyst consensus on NuVasive is a Strong Buy with an average price target of $75.

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NuVasive’s market cap is currently $3.51B and has a P/E ratio of 86.39. The company has a Price to Book ratio of 4.49.

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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.