New York State Common Retirement Fund trimmed its stake in NuVasive, Inc. (NASDAQ:NUVA) by 4.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 133,760 shares of the medical device company’s stock after selling 6,746 shares during the quarter. New York State Common Retirement Fund owned about 0.26% of NuVasive worth $10,289,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. FNY Partners Fund LP purchased a new stake in NuVasive in the first quarter valued at approximately $112,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in NuVasive by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares during the period. Howard Hughes Medical Institute grew its holdings in NuVasive by 82.8% in the second quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after purchasing an additional 936 shares during the period. US Bancorp DE grew its holdings in NuVasive by 1.7% in the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock valued at $180,000 after purchasing an additional 41 shares during the period. Finally, Honkamp Krueger Financial Services Inc. purchased a new stake in NuVasive in the second quarter valued at approximately $201,000.
NuVasive, Inc. (NASDAQ:NUVA) opened at 56.95 on Friday. The stock’s 50 day moving average is $58.81 and its 200-day moving average is $70.21. The firm has a market capitalization of $2.89 billion, a PE ratio of 89.69 and a beta of 1.03. NuVasive, Inc. has a 52-week low of $52.85 and a 52-week high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million for the quarter, compared to the consensus estimate of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. NuVasive’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter last year, the company posted $0.40 earnings per share. Equities analysts expect that NuVasive, Inc. will post $2.00 earnings per share for the current year.
In other NuVasive news, CEO Gregory T. Lucier purchased 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $66.22 per share, with a total value of $331,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter Michael Leddy purchased 7,850 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was acquired at an average cost of $63.88 per share, with a total value of $501,458.00. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 14,850 shares of company stock valued at $955,598. Company insiders own 1.20% of the company’s stock.
NUVA has been the subject of a number of recent analyst reports. Needham & Company LLC downgraded shares of NuVasive from a “hold” rating to an “underperform” rating in a report on Monday, August 28th. BTIG Research initiated coverage on shares of NuVasive in a report on Thursday, September 7th. They issued a “buy” rating and a $82.00 target price for the company. Cowen and Company restated an “outperform” rating and issued a $83.00 target price on shares of NuVasive in a report on Monday, September 18th. BidaskClub upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $88.00 target price (up from $84.00) on shares of NuVasive in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $77.92.
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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