Needham Keeps a Hold Rating on NuVasive (NUVA)

By Jason Carr

In a report released today, Michael Matson from Needham maintained a Hold rating on NuVasive (NUVAResearch Report). The company’s shares opened today at $65.84.

According to TipRanks.com, Matson is a 5-star analyst with an average return of 7.8% and a 63.7% success rate. Matson covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Cardiovascular Systems, and Zimmer Biomet Holdings.

NuVasive has an analyst consensus of Moderate Buy, with a price target consensus of $69.20, which is a 5.1% upside from current levels. In a report issued on July 29, Robert W. Baird also downgraded the stock to Hold with a $66 price target.

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Based on NuVasive’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $14.96 million. In comparison, last year the company had a net profit of $11.53 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.