Pacer Advisors Inc. purchased a new stake in NuVasive, Inc. (NASDAQ:NUVA) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,547 shares of the medical device company’s stock, valued at approximately $1,203,000.
Several other large investors have also modified their holdings of NUVA. Geode Capital Management LLC grew its position in shares of NuVasive by 7.5% in the fourth quarter. Geode Capital Management LLC now owns 584,788 shares of the medical device company’s stock valued at $28,981,000 after purchasing an additional 40,600 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of NuVasive by 1.4% in the first quarter. Rhumbline Advisers now owns 165,863 shares of the medical device company’s stock valued at $9,419,000 after buying an additional 2,303 shares during the period. Texas Permanent School Fund lifted its stake in shares of NuVasive by 4.2% in the first quarter. Texas Permanent School Fund now owns 35,060 shares of the medical device company’s stock valued at $1,991,000 after buying an additional 1,410 shares during the period. California Public Employees Retirement System lifted its stake in shares of NuVasive by 2.6% in the first quarter. California Public Employees Retirement System now owns 79,540 shares of the medical device company’s stock valued at $4,517,000 after buying an additional 1,991 shares during the period. Finally, South Dakota Investment Council lifted its stake in shares of NuVasive by 43.2% in the first quarter. South Dakota Investment Council now owns 5,300 shares of the medical device company’s stock valued at $301,000 after buying an additional 1,600 shares during the period. 98.87% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on NUVA shares. Piper Jaffray Companies set a $72.00 target price on shares of NuVasive and gave the company a “buy” rating in a research note on Wednesday, July 31st. ValuEngine cut shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Robert W. Baird cut shares of NuVasive from an “outperform” rating to a “neutral” rating and set a $66.00 target price for the company. in a research note on Monday, July 29th. BidaskClub cut shares of NuVasive from a “hold” rating to a “sell” rating in a research note on Saturday, September 7th. Finally, Cowen set a $75.00 target price on shares of NuVasive and gave the company a “buy” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $67.14.
NUVA traded down $0.32 during midday trading on Friday, reaching $65.43. 3,291 shares of the company’s stock were exchanged, compared to its average volume of 423,370. The firm has a market capitalization of $3.42 billion, a price-to-earnings ratio of 29.38, a price-to-earnings-growth ratio of 2.16 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 3.60 and a debt-to-equity ratio of 0.79. NuVasive, Inc. has a one year low of $43.51 and a one year high of $72.41. The business has a 50-day simple moving average of $63.62 and a two-hundred day simple moving average of $59.58.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, July 30th. The medical device company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.07. The firm had revenue of $292.11 million during the quarter, compared to analysts’ expectations of $290.59 million. NuVasive had a net margin of 4.65% and a return on equity of 15.09%. The company’s revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.58 earnings per share. As a group, research analysts anticipate that NuVasive, Inc. will post 2.32 EPS for the current fiscal year.
NuVasive, Inc, a medical device company, develops and markets minimally disruptive surgical products and procedurally integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal products include Maximum Access Surgery, a minimally disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.
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