Dynamic Technology Lab Private Ltd bought a new stake in shares of NuVasive, Inc. (NASDAQ:NUVA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,998 shares of the medical device company’s stock, valued at approximately $1,774,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of NUVA. Anchor Capital Advisors LLC lifted its position in NuVasive by 1,205.1% during the second quarter. Anchor Capital Advisors LLC now owns 983,977 shares of the medical device company’s stock valued at $51,285,000 after purchasing an additional 908,582 shares during the period. Victory Capital Management Inc. lifted its position in NuVasive by 100.0% during the third quarter. Victory Capital Management Inc. now owns 1,000,605 shares of the medical device company’s stock valued at $71,023,000 after purchasing an additional 500,395 shares during the period. Investment Counselors of Maryland LLC acquired a new position in NuVasive during the third quarter valued at $21,782,000. Glenmede Trust Co. NA acquired a new position in NuVasive during the second quarter valued at $12,955,000. Finally, Eagle Asset Management Inc. lifted its position in NuVasive by 12.8% during the second quarter. Eagle Asset Management Inc. now owns 1,267,961 shares of the medical device company’s stock valued at $66,086,000 after purchasing an additional 143,926 shares during the period.
A number of research analysts recently issued reports on NUVA shares. Royal Bank of Canada boosted their target price on shares of NuVasive to $70.00 and gave the company an “outperform” rating in a research report on Tuesday, November 27th. Robert W. Baird upgraded shares of NuVasive from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $60.00 to $82.00 in a research report on Thursday, September 27th. ValuEngine downgraded shares of NuVasive from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Cantor Fitzgerald restated a “hold” rating and set a $58.00 target price on shares of NuVasive in a research report on Friday, October 19th. Finally, Morgan Stanley upped their price objective on shares of NuVasive from $55.00 to $77.00 and gave the stock a “hold” rating in a research report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. NuVasive presently has a consensus rating of “Hold” and an average price target of $66.82.
Shares of NuVasive stock opened at $57.86 on Friday. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 1.78 and a beta of 0.80. NuVasive, Inc. has a fifty-two week low of $44.62 and a fifty-two week high of $72.41. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.45 and a quick ratio of 1.83.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.06). The firm had revenue of $271.30 million during the quarter, compared to analyst estimates of $265.70 million. NuVasive had a return on equity of 13.87% and a net margin of 2.24%. The company’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company posted $0.52 EPS. On average, sell-side analysts predict that NuVasive, Inc. will post 2.18 earnings per share for the current year.
In other NuVasive news, insider Matthew Link sold 1,200 shares of the company’s stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $62.01, for a total value of $74,412.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In the last quarter, insiders sold 8,671 shares of company stock valued at $538,741. Insiders own 1.20% of the company’s stock.
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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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