NuVasive Gets a Buy Rating from Canaccord Genuity

By Carrie Williams

In a report released today, Kyle Rose from Canaccord Genuity reiterated a Buy rating on NuVasive (NASDAQ: NUVA), with a price target of $80. The company’s shares opened today at $68.20.

According to TipRanks.com, Rose is a 5-star analyst with an average return of 11.5% and a 58.2% success rate. Rose covers the Healthcare sector, focusing on stocks such as Obalon Therapeutics Inc, Zimmer Biomet Holdings, and Zeltiq Aesthetics.

Currently, the analyst consensus on NuVasive is Strong Buy and the average price target is $85.67, representing a 25.6% upside.

In a report released today, Piper Jaffray also maintained a Buy rating on the stock with a $90 price target.

Based on NuVasive’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $250 million and quarterly net profit of $12.77 million. In comparison, last year the company earned revenue of $236 million and had a net profit of $30.21 million.

Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock.

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NuVasive, Inc. is medical device company, which 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.