Stephens Inc. AR cut its stake in shares of NuVasive, Inc. (NASDAQ:NUVA) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,144 shares of the medical device company’s stock after selling 35 shares during the quarter. Stephens Inc. AR’s holdings in NuVasive were worth $473,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Miles Capital Inc. increased its holdings in shares of NuVasive by 0.3% during the first quarter. Miles Capital Inc. now owns 3,118 shares of the medical device company’s stock valued at $233,000 after acquiring an additional 8 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of NuVasive by 1.0% during the second quarter. Teacher Retirement System of Texas now owns 4,040 shares of the medical device company’s stock valued at $311,000 after acquiring an additional 40 shares in the last quarter. US Bancorp DE increased its holdings in shares of NuVasive by 1.7% during the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock valued at $180,000 after acquiring an additional 41 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in shares of NuVasive by 0.5% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 8,720 shares of the medical device company’s stock valued at $651,000 after acquiring an additional 43 shares in the last quarter. Finally, World Asset Management Inc increased its holdings in shares of NuVasive by 2.3% during the first quarter. World Asset Management Inc now owns 3,117 shares of the medical device company’s stock valued at $233,000 after acquiring an additional 69 shares in the last quarter.
NuVasive, Inc. (NUVA) opened at 53.54 on Wednesday. The firm has a 50-day moving average price of $62.55 and a 200 day moving average price of $71.98. NuVasive, Inc. has a 12 month low of $52.85 and a 12 month high of $81.68. The stock has a market capitalization of $2.72 billion, a PE ratio of 84.31 and a beta of 1.08.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. The business had revenue of $260.60 million for the quarter, compared to analyst estimates of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company’s revenue was up 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.40 earnings per share. Equities analysts anticipate that NuVasive, Inc. will post $2.00 earnings per share for the current year.
In other news, CEO Gregory T. Lucier acquired 5,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were acquired at an average cost of $66.22 per share, with a total value of $331,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter Michael Leddy acquired 7,850 shares of the business’s stock in a transaction dated Tuesday, August 1st. The stock was purchased at an average cost of $63.88 per share, for a total transaction of $501,458.00. The disclosure for this purchase can be found here. Insiders bought 14,850 shares of company stock worth $955,598 over the last three months. Corporate insiders own 1.20% of the company’s stock.
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Several equities analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of NuVasive in a report on Friday, July 28th. Royal Bank Of Canada raised their price target on NuVasive from $76.00 to $85.00 and gave the company an “outperform” rating in a report on Tuesday, June 6th. Cowen and Company restated an “outperform” rating and set a $83.00 price target on shares of NuVasive in a report on Monday. Barclays PLC restated a “buy” rating and set a $80.00 price target on shares of NuVasive in a report on Wednesday, August 2nd. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $90.00 price target on shares of NuVasive in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eleven have given a buy rating to the company’s stock. NuVasive presently has a consensus rating of “Buy” and an average price target of $80.42.
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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