Cim Investment Mangement Inc. lifted its holdings in NuVasive, Inc. (NASDAQ:NUVA) by 132.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,061 shares of the medical device company’s stock after buying an additional 6,872 shares during the quarter. Cim Investment Mangement Inc.’s holdings in NuVasive were worth $630,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in NUVA. Rockefeller Capital Management L.P. bought a new position in NuVasive in the 1st quarter worth about $141,000. Westside Investment Management Inc. boosted its stake in NuVasive by 76.0% in the 4th quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock worth $147,000 after purchasing an additional 1,140 shares in the last quarter. Baird Financial Group Inc. bought a new position in NuVasive in the 4th quarter worth about $205,000. Xact Kapitalforvaltning AB bought a new position in NuVasive in the 4th quarter worth about $293,000. Finally, Meadow Creek Investment Management LLC boosted its stake in NuVasive by 22.0% in the 4th quarter. Meadow Creek Investment Management LLC now owns 7,344 shares of the medical device company’s stock worth $429,000 after purchasing an additional 1,326 shares in the last quarter.
In other NuVasive news, CEO Gregory T. Lucier acquired 6,000 shares of the stock in a transaction dated Tuesday, March 6th. The shares were purchased at an average price of $50.30 per share, for a total transaction of $301,800.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.95% of the stock is owned by corporate insiders.
NuVasive opened at $50.04 on Thursday, according to Marketbeat. The company has a current ratio of 2.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.77. The stock has a market cap of $2.54 billion, a price-to-earnings ratio of 26.20, a P/E/G ratio of 1.34 and a beta of 0.39. NuVasive, Inc. has a 52-week low of $44.62 and a 52-week high of $81.68.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Tuesday, May 1st. The medical device company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.06). The company had revenue of $260.50 million for the quarter, compared to the consensus estimate of $259.43 million. NuVasive had a net margin of 4.14% and a return on equity of 13.14%. NuVasive’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. analysts expect that NuVasive, Inc. will post 2.45 EPS for the current year.
A number of equities analysts recently issued reports on the stock. BidaskClub cut shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Saturday, April 21st. Leerink Swann cut shares of NuVasive from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 1st. Canaccord Genuity dropped their price target on shares of NuVasive from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday, February 27th. Goldman Sachs Group assumed coverage on shares of NuVasive in a research note on Wednesday, April 4th. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $69.00 price target (down previously from $70.00) on shares of NuVasive in a research note on Wednesday, May 2nd. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the company. NuVasive has a consensus rating of “Hold” and an average price target of $65.75.
NuVasive Company Profile
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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