Teacher Retirement System of Texas Trims Stake in NuVasive, Inc. (NUVA)

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Teacher Retirement System of Texas cut its stake in shares of NuVasive, Inc. (NASDAQ:NUVA) by 7.9% during the second quarter, HoldingsChannel.com reports. The fund owned 10,396 shares of the medical device company’s stock after selling 889 shares during the quarter. Teacher Retirement System of Texas’ holdings in NuVasive were worth $542,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Hennessy Advisors Inc. bought a new stake in NuVasive in the 1st quarter valued at $836,000. Virginia Retirement Systems ET AL bought a new stake in NuVasive in the 1st quarter valued at $783,000. Victory Capital Management Inc. boosted its stake in NuVasive by 80.9% in the 1st quarter. Victory Capital Management Inc. now owns 635,839 shares of the medical device company’s stock valued at $33,197,000 after purchasing an additional 284,439 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in NuVasive by 26.9% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 335,669 shares of the medical device company’s stock valued at $17,525,000 after purchasing an additional 71,205 shares during the period. Finally, Swiss National Bank boosted its stake in NuVasive by 2.1% in the 1st quarter. Swiss National Bank now owns 88,369 shares of the medical device company’s stock valued at $4,614,000 after purchasing an additional 1,800 shares during the period.

NASDAQ:NUVA opened at $70.43 on Thursday. The firm has a market cap of $3.61 billion, a PE ratio of 36.87, a P/E/G ratio of 1.93 and a beta of 0.69. NuVasive, Inc. has a fifty-two week low of $44.62 and a fifty-two week high of $71.15.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, July 31st. The medical device company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. The firm had revenue of $281.56 million during the quarter, compared to the consensus estimate of $276.05 million. NuVasive had a return on equity of 13.70% and a net margin of 3.96%. sell-side analysts anticipate that NuVasive, Inc. will post 2.39 earnings per share for the current year.

Several research firms recently issued reports on NUVA. Cantor Fitzgerald began coverage on NuVasive in a research note on Thursday, May 31st. They issued a “neutral” rating and a $54.00 price target for the company. Zacks Investment Research upgraded NuVasive from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a research note on Friday, June 15th. ValuEngine upgraded NuVasive from a “strong sell” rating to a “sell” rating in a research note on Monday, July 30th. Finally, BTIG Research boosted their price target on NuVasive to $72.00 and gave the company a “buy” rating in a research note on Thursday, August 16th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. NuVasive has a consensus rating of “Hold” and an average target price of $64.06.

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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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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