Morgan Stanley Raises NuVasive Price Target to $45.00
August 12, 2023
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NUVASIVE ($NASDAQ:NUVA): Morgan Stanley recently raised its price target for NuVasive, Inc. (Nasdaq: NUVA), a medical device company, to $45.00 in a research report. This is an increase from the previous $40.00 price target that was set by the investment firm. The company is focused on transforming spine surgery with innovative technologies designed to deliver reproducible and clinically proven surgical outcomes. Morgan Stanley’s analysts believe that NuVasive’s value lies in its market share leadership position, expansive product portfolio, and strong balance sheet among other factors.
They are also encouraged by the company’s recent progress with new technology launches and the impact it has had on its top line revenue growth. With their new target price, Morgan Stanley believes that NuVasive is well-positioned to continue its success in the coming quarters.
Price History
On Monday, NUVASIVE Inc. (NUVA) opened its stock at $39.3 and closed at $40, up by 2.4% from its previous closing price of $39.0. This increase was prompted by Morgan Stanley raising its price target for the stock to $45. This marks an increase from their previous price target of $40 and is based on expectations for strong revenue growth and margin expansion. The upgrade also reflects the company’s recent partnership with Medtronic, which is expected to bolster the company’s market share and increase its competitiveness in the medical device market. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nuvasive. NuVasive_Price_Target_to_45.00″>More…
| Total Revenues | Net Income | Net Margin |
| 1.23k | 28.45 | 3.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nuvasive. NuVasive_Price_Target_to_45.00″>More…
| Operations | Investing | Financing |
| 139.51 | -155.74 | -130.62 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nuvasive. NuVasive_Price_Target_to_45.00″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.09k | 1.2k | 17.02 |
Key Ratios Snapshot
Some of the financial key ratios for Nuvasive are shown below. NuVasive_Price_Target_to_45.00″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 4.8% | 13.4% | 5.0% |
| FCF Margin | ROE | ROA |
| -0.3% | 4.3% | 1.8% |
Analysis
At GoodWhale, we conducted an analysis of NUVASIVE‘s wellbeing. According to our Star Chart, NUVASIVE is strong in terms of profitability, medium in terms of asset growth, and weak in dividend. This makes NUVASIVE a ‘rhino’ type of company, one that has achieved moderate revenue or earnings growth. Investors who are interested in such a company will be looking at NUVASIVE’s high health score of 8 out of 10, which takes into consideration their ability to fund future operations and pay off debt. Furthermore, investors will also be looking at NUVASIVE’s growth potential, which is a factor that is dependent on the company’s ability to stay competitive in the marketplace. More…
Peers
The company is headquartered in San Diego, California and was founded in 1997. NuVasive has a market cap of $5.09 billion, and its shares are traded on the Nasdaq stock exchange under the ticker symbol NUVA. Globus Medical Inc, Medtronic PLC, and Zimmer Biomet Holdings Inc are NuVasive’s largest competitors.
– Globus Medical Inc ($NYSE:GMED)
Globus Medical is a leading medical device company focused on providing musculoskeletal solutions to improve quality of life for patients worldwide. The company has a market cap of $6.26 billion and a return on equity of 7.02%. Globus Medical manufactures and markets a full line of musculoskeletal solutions, including orthopedic implants, Biologics, and instrumentation for the spine and extremities.
– Medtronic PLC ($NYSE:MDT)
Medtronic PLC is a medical device company. Its products include pacemakers, defibrillators, stents, and other implantable devices. The company was founded in 1949 and is headquartered in Dublin, Ireland. Medtronic PLC has a market cap of 112.51B as of 2022. Its return on equity is 7.49%.
– Zimmer Biomet Holdings Inc ($NYSE:ZBH)
Zimmer Biomet Holdings Inc is a medical device company that designs, manufactures and markets orthopedic products and services. The company has a market cap of 22B as of 2022 and a Return on Equity of 2.49%. Zimmer Biomet’s products and services include hip and knee replacement systems, trauma and sports medicine products, biologics, extremities and dental products. The company serves patients, physicians and other healthcare professionals worldwide.
Summary
Investment analysis of NuVasive has been positive recently, as Morgan Stanley analysts have increased the stock’s price target from $40.00 to $45.00. Traders and investors have responded positively to this news, causing the stock to increase in value. NuVasive is a market leader in medical technologies and surgical solutions for spine-related conditions, commanding a large portion of the global market share.
The company has continued to innovate and expand its product line, helping to drive market demand. With the recent price target increase, NuVasive is expected to remain a strong investment opportunity for traders and investors.
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