Victory Capital Management Inc. lowered its stake in NuVasive, Inc. (NASDAQ:NUVA) by 79.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 166,540 shares of the medical device company’s stock after selling 651,461 shares during the quarter. Victory Capital Management Inc. owned 0.33% of NuVasive worth $9,236,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of NUVA. Koch Industries Inc. boosted its holdings in NuVasive by 26,406.7% in the second quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after purchasing an additional 978,631 shares during the last quarter. Voya Investment Management LLC boosted its holdings in NuVasive by 43.7% in the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after purchasing an additional 517,115 shares during the last quarter. TIAA CREF Investment Management LLC boosted its holdings in NuVasive by 118.7% in the second quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after purchasing an additional 296,715 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in NuVasive by 450.6% in the second quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock worth $24,221,000 after purchasing an additional 257,700 shares during the last quarter. Finally, Nationwide Fund Advisors raised its position in NuVasive by 67.4% in the second quarter. Nationwide Fund Advisors now owns 406,482 shares of the medical device company’s stock worth $31,267,000 after acquiring an additional 163,665 shares during the period.
In related news, CEO Gregory T. Lucier purchased 2,000 shares of NuVasive stock in a transaction on Tuesday, August 29th. The shares were bought at an average cost of $61.52 per share, for a total transaction of $123,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Gregory T. Lucier purchased 5,000 shares of NuVasive stock in a transaction on Thursday, August 17th. The stock was bought at an average price of $66.22 per share, for a total transaction of $331,100.00. The disclosure for this purchase can be found here. Insiders own 1.20% of the company’s stock.
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Shares of NuVasive, Inc. (NASDAQ:NUVA) opened at $56.29 on Wednesday. The company has a quick ratio of 1.51, a current ratio of 2.85 and a debt-to-equity ratio of 0.76. The stock has a market cap of $2,879.18, a price-to-earnings ratio of 29.89, a price-to-earnings-growth ratio of 2.01 and a beta of 0.78. NuVasive, Inc. has a fifty-two week low of $49.25 and a fifty-two week high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $255.70 million. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. NuVasive’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.40 EPS. equities research analysts predict that NuVasive, Inc. will post 1.91 earnings per share for the current year.
NuVasive announced that its Board of Directors has initiated a share repurchase plan on Tuesday, October 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
Several research firms have weighed in on NUVA. Needham & Company LLC reiterated a “hold” rating on shares of NuVasive in a research report on Friday, July 28th. Cowen and Company reiterated an “outperform” rating and issued a $83.00 price target on shares of NuVasive in a research report on Monday, September 18th. Barclays PLC reiterated a “buy” rating and issued a $80.00 price target on shares of NuVasive in a research report on Wednesday, August 2nd. Royal Bank Of Canada reiterated a “buy” rating and issued a $75.00 price target on shares of NuVasive in a research report on Tuesday, October 10th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $90.00 price target on shares of NuVasive in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $72.33.
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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