Victory Capital Management Inc. Buys 500,395 Shares of NuVasive, Inc. (NUVA)

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Victory Capital Management Inc. raised its stake in shares of NuVasive, Inc. (NASDAQ:NUVA) by 100.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,000,605 shares of the medical device company’s stock after purchasing an additional 500,395 shares during the quarter. Victory Capital Management Inc. owned 1.95% of NuVasive worth $71,023,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its holdings in shares of NuVasive by 4.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 19,899 shares of the medical device company’s stock worth $1,037,000 after acquiring an additional 889 shares in the last quarter. Arizona State Retirement System boosted its holdings in shares of NuVasive by 2.6% in the 2nd quarter. Arizona State Retirement System now owns 35,589 shares of the medical device company’s stock worth $1,855,000 after acquiring an additional 903 shares in the last quarter. Strs Ohio boosted its holdings in shares of NuVasive by 45.5% in the 2nd quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock worth $166,000 after acquiring an additional 1,000 shares in the last quarter. Amalgamated Bank boosted its holdings in shares of NuVasive by 14.9% in the 2nd quarter. Amalgamated Bank now owns 8,384 shares of the medical device company’s stock worth $437,000 after acquiring an additional 1,086 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings in shares of NuVasive by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 53,030 shares of the medical device company’s stock worth $2,764,000 after acquiring an additional 1,202 shares in the last quarter.

NUVA stock opened at $55.73 on Tuesday. 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, Inc. has a fifty-two week low of $44.62 and a fifty-two week high of $72.41. The company has a market capitalization of $2.91 billion, a P/E ratio of 29.18, a P/E/G ratio of 1.69 and a beta of 0.78.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.06). NuVasive had a return on equity of 13.87% and a net margin of 2.24%. The company had revenue of $271.30 million during the quarter, compared to the consensus estimate of $265.70 million. During the same quarter last year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, sell-side analysts forecast that NuVasive, Inc. will post 2.18 EPS for the current fiscal year.

Several research analysts have recently commented on NUVA shares. Canaccord Genuity reduced their target price on NuVasive from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, October 31st. BidaskClub raised NuVasive from a “hold” rating to a “buy” rating in a report on Tuesday, October 2nd. Needham & Company LLC reissued a “buy” rating and issued a $80.00 target price (up from $67.00) on shares of NuVasive in a report on Wednesday, October 17th. BMO Capital Markets reduced their target price on NuVasive from $70.00 to $68.00 and set a “market perform” rating on the stock in a report on Wednesday, October 31st. Finally, Morgan Stanley boosted their target price on NuVasive from $55.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, September 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $67.63.

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About NuVasive

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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