Westside Investment Management Inc. increased its stake in NuVasive, Inc. (NASDAQ:NUVA) by 76.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,640 shares of the medical device company’s stock after acquiring an additional 1,140 shares during the quarter. Westside Investment Management Inc.’s holdings in NuVasive were worth $147,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. Zions Bancorporation bought a new stake in NuVasive in the third quarter worth approximately $160,000. Baird Financial Group Inc. bought a new stake in NuVasive in the fourth quarter worth approximately $205,000. Icon Advisers Inc. Co. bought a new stake in NuVasive in the third quarter worth approximately $360,000. Crossmark Global Holdings Inc. bought a new stake in NuVasive in the third quarter worth approximately $427,000. Finally, Meadow Creek Investment Management LLC increased its holdings in NuVasive by 22.0% in the fourth quarter. Meadow Creek Investment Management LLC now owns 7,344 shares of the medical device company’s stock worth $429,000 after purchasing an additional 1,326 shares in the last quarter.
Several equities research analysts have recently commented on NUVA shares. Leerink Swann downgraded NuVasive from an “outperform” rating to a “market perform” rating in a report on Thursday, February 1st. Canaccord Genuity decreased their price objective on NuVasive from $81.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Morgan Stanley restated an “equal weight” rating and set a $55.00 price objective (down previously from $67.00) on shares of NuVasive in a report on Tuesday, February 27th. Piper Jaffray Companies restated a “buy” rating and set a $90.00 price objective on shares of NuVasive in a report on Tuesday, January 9th. Finally, Wells Fargo downgraded NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a report on Wednesday, January 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. NuVasive has a consensus rating of “Buy” and a consensus price target of $68.19.
In other news, CEO Gregory T. Lucier acquired 6,000 shares of NuVasive stock in a transaction dated Tuesday, March 6th. The shares were purchased at an average cost of $50.30 per share, for a total transaction of $301,800.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
NuVasive, Inc. (NASDAQ:NUVA) opened at $50.88 on Tuesday. The firm has a market capitalization of $2,672.52, a PE ratio of 27.16, a price-to-earnings-growth ratio of 1.33 and a beta of 0.50. The company has a quick ratio of 1.94, a current ratio of 3.48 and a debt-to-equity ratio of 0.73. NuVasive, Inc. has a one year low of $44.62 and a one year high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its earnings results on Monday, February 26th. The medical device company reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $271.70 million for the quarter, compared to analyst estimates of $272.11 million. NuVasive had a return on equity of 13.40% and a net margin of 8.06%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.53 EPS. equities analysts predict that NuVasive, Inc. will post 2.46 earnings per share for the current fiscal 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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