Icon Advisers Inc. Co. trimmed its position in shares of NuVasive, Inc. (NASDAQ:NUVA) by 55.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,500 shares of the medical device company’s stock after selling 9,500 shares during the period. Icon Advisers Inc. Co.’s holdings in NuVasive were worth $532,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of NUVA. Guggenheim Capital LLC increased its stake in NuVasive by 12.0% during the first quarter. Guggenheim Capital LLC now owns 12,026 shares of the medical device company’s stock valued at $627,000 after acquiring an additional 1,285 shares during the period. Legal & General Group Plc increased its stake in NuVasive by 11.3% during the first quarter. Legal & General Group Plc now owns 51,828 shares of the medical device company’s stock valued at $2,706,000 after acquiring an additional 5,258 shares during the period. Principal Financial Group Inc. increased its stake in NuVasive by 4.3% during the first quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock valued at $11,826,000 after acquiring an additional 9,438 shares during the period. Xact Kapitalforvaltning AB increased its stake in NuVasive by 20.8% during the second quarter. Xact Kapitalforvaltning AB now owns 8,116 shares of the medical device company’s stock valued at $423,000 after acquiring an additional 1,400 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in NuVasive during the second quarter valued at about $304,000.
NUVA has been the topic of several research reports. TheStreet upgraded NuVasive from a “c+” rating to a “b-” rating in a research note on Thursday, August 2nd. Canaccord Genuity boosted their price target on NuVasive from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. 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. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Finally, Needham & Company LLC lowered their price target on NuVasive from $69.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $67.63.
NUVA stock opened at $57.93 on Friday. NuVasive, Inc. has a 1-year low of $44.62 and a 1-year high of $72.41. The company has a market capitalization of $3.00 billion, a PE ratio of 27.88, a P/E/G ratio of 1.74 and a beta of 0.78. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.83 and a current ratio of 3.45.
NuVasive (NASDAQ:NUVA) last released 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 net margin of 2.24% and a return on equity of 13.87%. The company had revenue of $271.30 million during the quarter, compared to the consensus estimate of $265.70 million. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts forecast that NuVasive, Inc. will post 2.18 earnings per share for the current year.
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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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