Friday, November 27, 2020

For NuVasive Inc. [NUVA], Analyst sees a rise to $64. What next?

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NuVasive Inc. [NASDAQ: NUVA] surged by $1.56 during the normal trading session on Thursday and reaching a high of $49.49 during the day while it closed the day at $49.27. The company report on October 30, 2020 that NuVasive Announces Third Quarter 2020 Financial Results.

NuVasive, Inc. (NASDAQ: NUVA), the leader in spine technology innovation, focused on transforming spine surgery with minimally disruptive, procedurally integrated solutions, today announced financial results for the quarter ended September 30, 2020.


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Third Quarter 2020 Highlights.

NuVasive Inc. stock has also loss -4.66% of its value over the past 7 days. However, NUVA stock has declined by -13.77% in the 3 months of the year. Over the past six months meanwhile, it has lost -15.84% and lost -36.29% year-on date.

The market cap for NUVA stock reached $2.49 billion, with 51.22 million shares outstanding and 50.90 million shares in the current float. Compared to the average trading volume of 733.47K shares, NUVA reached a trading volume of 1384529 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about NuVasive Inc. [NUVA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NUVA shares is $65.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NUVA stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Stifel have made an estimate for NuVasive Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 20, 2020. While these analysts kept the previous recommendation, Northland Capital raised their target price to Market Perform. The new note on the price target was released on June 25, 2020, representing the official price target for NuVasive Inc. stock.

The Average True Range (ATR) for NuVasive Inc. is set at 2.04, with the Price to Sales ratio for NUVA stock in the period of the last 12 months amounting to 2.34. The Price to Book ratio for the last quarter was 2.82, with the Price to Cash per share for the same quarter was set at 18.32. Price to Free Cash Flow for NUVA in the course of the last twelve months was 38.11 with Quick ratio for the last quarter at 1.40.

NUVA stock trade performance evaluation

NuVasive Inc. [NUVA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.66. With this latest performance, NUVA shares gained by 1.44% in over the last four-week period, additionally sinking by -15.84% over the last 6 months – not to mention a drop of -25.87% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NUVA stock in for the last two-week period is set at 43.16, with the RSI for the last a single of trading hit 40.11, and the three-weeks RSI is set at 44.15 for NuVasive Inc. [NUVA]. The present Moving Average for the last 50 days of trading for this stock 51.55, while it was recorded at 49.98 for the last single week of trading, and 57.70 for the last 200 days.

NuVasive Inc. [NUVA]: An insightful look at the core fundamentals

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NuVasive Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.40 and a Current Ratio set at 1.80.

Earnings per share (EPS) analysis for NuVasive Inc. [NUVA] stock

With the latest financial reports released by the company, NuVasive Inc. posted 0.59/share EPS, while the average EPS was predicted by analysts to be reported at 0.53/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 11.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NUVA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NuVasive Inc. go to 10.14%.

NuVasive Inc. [NUVA]: Insider Ownership positions

There are presently around $2,836 million, in the hands of institutional investors. The top three institutional holders of NUVA stocks are: BLACKROCK INC. with ownership of 6,409,185, which is approximately 1.139% of the company’s market cap and around 0.20% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 5,960,657 shares of the stock with an approximate value of $293.68 million in NUVA stocks shares; and VANGUARD GROUP INC, currently with $249.21 million in NUVA stock with ownership of nearly -3.853% of the company’s market capitalization.

150 institutional holders increased their position in NuVasive Inc. [NASDAQ:NUVA] by around 7,232,288 shares. Additionally, 140 investors decreased positions by around 3,112,026 shares, while 36 investors held positions by with 47,209,347 shares. The mentioned changes placed institutional holdings at 57,553,661 shares, according to the latest SEC report filing. NUVA stock had 55 new institutional investments in for a total of 3,155,684 shares, while 35 institutional investors sold positions of 756,316 shares during the same period.

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