Schwab Charles Investment Management Inc. boosted its stake in shares of NuVasive, Inc. (NASDAQ:NUVA) by 11.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 321,199 shares of the medical device company’s stock after purchasing an additional 33,351 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in NuVasive were worth $16,741,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new stake in NuVasive during the 1st quarter worth about $141,000. Strs Ohio raised its holdings in NuVasive by 45.5% during the 2nd quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock worth $166,000 after buying an additional 1,000 shares during the period. Hartford Investment Management Co. acquired a new position in shares of NuVasive in the 2nd quarter valued at about $245,000. Permanens Capital L.P. acquired a new position in shares of NuVasive in the 1st quarter valued at about $261,000. Finally, Symphony Asset Management LLC acquired a new position in shares of NuVasive in the 1st quarter valued at about $273,000.
A number of brokerages have recently weighed in on NUVA. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a report on Friday, June 15th. Bank of America downgraded NuVasive from a “neutral” rating to an “underperform” rating in a report on Wednesday, June 27th. Cowen upped their target price on NuVasive from $62.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday. They noted that the move was a valuation call. JPMorgan Chase & Co. downgraded NuVasive from an “overweight” rating to a “neutral” rating and set a $74.00 target price on the stock. in a report on Thursday, June 21st. Finally, BTIG Research upped their target price on NuVasive to $72.00 and gave the company a “buy” rating in a report on Thursday, August 16th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. NuVasive has a consensus rating of “Hold” and a consensus price target of $65.12.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, July 31st. The medical device company reported $0.58 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $281.56 million during the quarter, compared to analysts’ expectations of $276.05 million. NuVasive had a return on equity of 13.70% and a net margin of 3.96%. research analysts expect that NuVasive, Inc. will post 2.39 earnings per share for the current 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 product is 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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