Wall Street analysts covering NuVasive have set a consensus price target of $60.50 on the company's stock, according to a Markets Daily report.
Here six takeaways:
1. The highest estimate sees the stock climbing to $68 within the next year.
2. The lowest estimate sees the target price at $56 over the next 12 months.
3. Analysts are also predicting that NuVasive will report $0.3 earnings per share in its next financial report.
4. The new consensus price target comes shortly after NuVasive announced its intention to acquire Ellipse Technologies for $380 million upfront cash payments.
5. The acquisition will likely accelerate NuVasive's revenue growth toward the high single-digit range and be slightly accretive to the company's non-GAAP diluted earnings per share for the first 12 months after the transaction.
6. The transaction is expected to close by the end of February.