United Services Automobile Association boosted its stake in NuVasive, Inc. (NASDAQ:NUVA) by 289.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,851 shares of the medical device company’s stock after acquiring an additional 22,937 shares during the period. United Services Automobile Association’s holdings in NuVasive were worth $1,608,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Strs Ohio increased its position in NuVasive by 45.5% in the 2nd quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock valued at $166,000 after acquiring an additional 1,000 shares during the period. Sun Life Financial INC acquired a new position in NuVasive in the 2nd quarter valued at about $201,000. Cubist Systematic Strategies LLC acquired a new position in NuVasive in the 2nd quarter valued at about $221,000. Hartford Investment Management Co. acquired a new position in NuVasive in the 2nd quarter valued at about $245,000. Finally, PEAK6 Investments L.P. acquired a new position in NuVasive in the 2nd quarter valued at about $287,000.
Several equities analysts recently issued reports on the company. BidaskClub upgraded NuVasive from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 14th. ValuEngine raised NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Canaccord Genuity lifted their price objective on NuVasive from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, September 18th. Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, August 21st. Finally, Cowen lifted their price objective on NuVasive from $62.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, September 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $68.56.
Shares of NASDAQ:NUVA opened at $62.05 on Friday. The company has a market cap of $3.51 billion, a PE ratio of 32.49, a PEG ratio of 1.87 and a beta of 0.69. NuVasive, Inc. has a 12 month low of $44.62 and a 12 month high of $72.41.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, July 31st. The medical device company reported $0.58 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.58. The business had revenue of $281.56 million for the quarter, compared to analyst estimates of $276.05 million. NuVasive had a return on equity of 13.70% and a net margin of 3.96%. As a group, research analysts expect that NuVasive, Inc. will post 2.39 earnings per share 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 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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