NuVasive (NUVA) Stock Forecast, Price & News

11 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for NuVasive in the last year. There are currently 9 hold ratings and 2 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "hold" NUVA shares. A hold rating indicates that analysts believe investors should maintain any existing positions they have in NUVA, but not buy additional shares or sell existing shares.
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11 equities research analysts have issued 1-year price targets for NuVasive's stock. Their NUVA share price forecasts range from $44.50 to $58.00. On average, they expect the company's stock price to reach $50.98 in the next twelve months. This suggests a possible upside of 29.3% from the stock's current price.
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NuVasive's stock was trading at $41.24 at the beginning of 2023. Since then, NUVA shares have decreased by 4.4% and is now trading at $39.42.
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NuVasive saw a increase in short interest during the month of May. As of May 15th, there was short interest totaling 9,290,000 shares, an increase of 88.4% from the April 30th total of 4,930,000 shares. Based on an average trading volume of 966,900 shares, the days-to-cover ratio is presently 9.6 days.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, August 2nd 2023.
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NuVasive, Inc. (NASDAQ:NUVA) posted its quarterly earnings data on Wednesday, May, 10th. The medical device company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.06. The medical device company earned $307.71 million during the quarter, compared to the consensus estimate of $298.43 million. NuVasive had a net margin of 1.66% and a trailing twelve-month return on equity of 11.82%. During the same period in the prior year, the business posted $0.54 EPS.

ETFs with the largest weight of NuVasive (NASDAQ:NUVA) stock in their portfolio include IQ Merger Arbitrage ETF (MNA), ProShares Merger ETF (MRGR), Invesco S&P SmallCap Health Care ETF (PSCH), SPDR S&P Health Care Equipment ETF (XHE), Principal Healthcare Innovators ETF (BTEC), Invesco Nasdaq Future Gen 200 ETF (QQQS), iShares S&P Small-Cap 600 Value ETF (IJS) and SPDR S&P 600 Small CapValue ETF (SLYV).

NuVasive declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 9th 2021, which authorizes the company to repurchase $100,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

NuVasive issued an update on its FY 2023 earnings guidance on Friday, May, 12th. The company provided earnings per share (EPS) guidance of for the period. The company issued revenue guidance of $1.27 billion-$1.30 billion, compared to the consensus revenue estimate of $1.28 billion.

59 employees have rated NuVasive Chief Executive Officer Chris Barry on Glassdoor.com. Chris Barry has an approval rating of 88% among the company's employees.

Based on aggregate information from My MarketBeat watchlists, some companies that other NuVasive investors own include BioMarin Pharmaceutical (BMRN), Incyte (INCY), Puma Biotechnology (PBYI), Intel (INTC), Alibaba Group (BABA), (MDVN) (MDVN), Micron Technology (MU), Bank of America (BAC), Gilead Sciences (GILD) and Applied Materials (AMAT).

NuVasive trades on the NASDAQ under the ticker symbol "NUVA."

NuVasive's stock is owned by a variety of institutional and retail investors. Top institutional shareholders include Dimensional Fund Advisors LP (2.98%), Arrowstreet Capital Limited Partnership (2.12%), Geode Capital Management LLC (1.93%), Two Sigma Advisers LP (1.90%), Stephens Investment Management Group LLC (1.53%) and Burgundy Asset Management Ltd. (1.49%). Insiders that own company stock include James Christopher Barry, Lucas Vitale, Massimo Calafiore and Matthew Link.
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Shares of NUVA stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of NUVA stock can currently be purchased for approximately $39.42.

NuVasive (NASDAQ:NUVA) has a market capitalization of $2.07 billion and generates $1.22 billion in revenue each year. The medical device company earns $40.41 million in net income (profit) each year or $0.34 on an earnings per share basis.

The company employs 3,000 workers across the globe.

NuVasive's mailing address is 7475 LUSK BOULEVARD, SAN DIEGO CA, 92121. The official website for the company is www.nuvasive.com. The medical device company can be reached via phone at (858) 909-1800, via email at investorrelations@nuvasive.com, or via fax at 800-475-9134.