Public Employees Retirement Association of Colorado cut its stake in shares of NuVasive, Inc. (NASDAQ:NUVA) by 16.3% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 8,544 shares of the medical device company’s stock after selling 1,663 shares during the period. Public Employees Retirement Association of Colorado’s holdings in NuVasive were worth $446,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. American Assets Investment Management LLC acquired a new position in NuVasive during the 1st quarter worth approximately $1,091,000. Hennessy Advisors Inc. acquired a new position in NuVasive during the 1st quarter worth approximately $836,000. Fort Washington Investment Advisors Inc. OH lifted its position in NuVasive by 79.7% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 498,153 shares of the medical device company’s stock worth $26,009,000 after acquiring an additional 220,900 shares in the last quarter. Xact Kapitalforvaltning AB acquired a new position in NuVasive during the 4th quarter worth approximately $293,000. Finally, MetLife Investment Advisors LLC acquired a new position in NuVasive during the 4th quarter worth approximately $3,272,000.
In other NuVasive news, CEO Gregory T. Lucier bought 6,000 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were bought at an average cost of $48.57 per share, with a total value of $291,420.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.
Shares of NuVasive opened at $49.14 on Monday, according to Marketbeat.com. NuVasive, Inc. has a 52-week low of $44.62 and a 52-week high of $81.68. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.33 and a beta of 0.39. The company has a current ratio of 2.41, a quick ratio of 1.30 and a debt-to-equity ratio of 0.77.
NuVasive (NASDAQ:NUVA) last announced its earnings results on Tuesday, May 1st. The medical device company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.06). NuVasive had a net margin of 4.14% and a return on equity of 13.14%. The business had revenue of $260.50 million during the quarter, compared to analyst estimates of $259.43 million. During the same period in the previous year, the company earned $0.37 earnings per share. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. sell-side analysts expect that NuVasive, Inc. will post 2.45 earnings per share for the current fiscal year.
NUVA has been the topic of several recent research reports. Zacks Investment Research lowered NuVasive from a “buy” rating to a “hold” rating in a research report on Tuesday, February 20th. BidaskClub raised NuVasive from a “hold” rating to a “buy” rating in a research report on Wednesday, April 11th. ValuEngine lowered NuVasive from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Leerink Swann lowered NuVasive from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 1st. Finally, Morgan Stanley reissued an “equal weight” rating and set a $55.00 price target (down from $67.00) on shares of NuVasive in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $65.75.
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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