NuVasive (NUVA) Gets a Hold Rating from Cantor Fitzgerald

By Austin Angelo

Cantor Fitzgerald analyst Craig Bijou maintained a Hold rating on NuVasive (NUVAResearch Report) yesterday and set a price target of $61. The company’s shares closed yesterday at $60.60.

Bijou noted:

“: We maintain our Neutral rating on NUVA, but raise our 12- month PT to $61 from $50 as NUVA’s performance justifies multiple expansion. NUVA reported 1Q revenue of $274.8MM (+5.9% organic), beating FactSet consensus by $5.6MM. 40bp benefit from one-time NCS collections and a faster-than-expected benefit from West Carrollton, GM (72.9%) and OM (14.9%) were higher than expectations, driving an EPS beat of $0.12. A number of favorable one-time items make determining the true underlying performance challenging.”

According to TipRanks.com, Bijou is a 3-star analyst with an average return of 2.3% and a 48.0% success rate. Bijou covers the Healthcare sector, focusing on stocks such as Zimmer Biomet Holdings, Ra Medical Systems Inc, and Integra Lifesciences.

NuVasive has an analyst consensus of Moderate Buy, with a price target consensus of $61.29.

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The company has a one-year high of $72.41 and a one-year low of $43.51. Currently, NuVasive has an average volume of 714.2K.

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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.