Cantor Fitzgerald Sticks to Its Hold Rating for NuVasive (NUVA)

By Carrie Williams

Cantor Fitzgerald analyst Craig Bijou maintained a Hold rating on NuVasive (NUVAResearch Report) yesterday and set a price target of $50. The company’s shares closed on Friday at $49.55.

Bijou said:

“We maintain our Neutral rating and 12-month PT of $50 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. $50 price target is based on a 10x EV/EBITDA multiple on our 2020 EBITDA estimate.”

According to TipRanks.com, Bijou is a 3-star analyst with an average return of 2.9% and a 53.7% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Ra Medical Systems Inc, Zimmer Biomet Holdings, and Integra Lifesciences.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for NuVasive with a $64.13 average price target, which is a 29.4% upside from current levels. In a report issued on February 8, Needham also downgraded the stock to Hold.

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Based on NuVasive’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $15.92 million. In comparison, last year the company had a net profit of $23.96 million.

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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.