NuVasive Gets a Buy Rating from Jefferies

By Austin Angelo

In a report issued on July 28, Raj Denhoy from Jefferies reiterated a Buy rating on NuVasive (NASDAQ: NUVA), with a price target of $79. The company’s shares closed on Friday at $67.11.

According to TipRanks.com, Denhoy is a top 100 analyst with an average return of 16.2% and a 72.4% success rate. Denhoy covers the Healthcare sector, focusing on stocks such as Boston Scientific Corp, Varian Medical Systems, and Zimmer Biomet Holdings.

Currently, the analyst consensus on NuVasive is Strong Buy and the average price target is $84.83, representing a 26.4% upside.

In a report issued on July 18, Piper Jaffray also reiterated a Buy rating on the stock with a $90 price target.

Based on NuVasive’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $261 million and quarterly net profit of $12.66 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.