Dupont Capital Management Corp cut its position in NuVasive, Inc. (NASDAQ:NUVA) by 9.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,893 shares of the medical device company’s stock after selling 1,174 shares during the period. Dupont Capital Management Corp’s holdings in NuVasive were worth $662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently made changes to their positions in NUVA. FDx Advisors Inc. purchased a new stake in shares of NuVasive in the first quarter worth $25,000. Sowell Financial Services LLC lifted its holdings in NuVasive by 53.4% during the 1st quarter. Sowell Financial Services LLC now owns 1,091 shares of the medical device company’s stock valued at $55,000 after buying an additional 380 shares in the last quarter. Westside Investment Management Inc. bought a new stake in NuVasive during the 1st quarter valued at about $75,000. IndexIQ Advisors LLC bought a new stake in NuVasive during the 1st quarter valued at about $190,000. Finally, Synovus Financial Corp lifted its holdings in NuVasive by 9.0% during the 1st quarter. Synovus Financial Corp now owns 3,989 shares of the medical device company’s stock valued at $207,000 after buying an additional 329 shares in the last quarter.
A number of research analysts have commented on the stock. Piper Sandler cut their target price on shares of NuVasive from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Citigroup raised their target price on shares of NuVasive from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. UBS Group cut their target price on shares of NuVasive from $65.00 to $55.00 and set a “sell” rating on the stock in a research report on Thursday, May 7th. Robert W. Baird raised shares of NuVasive from a “neutral” rating to an “outperform” rating in a research report on Sunday, April 19th. Finally, BidaskClub downgraded shares of NuVasive from a “hold” rating to a “sell” rating in a research report on Saturday, June 27th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $70.35.
In other NuVasive news, President Matthew Link sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $67.00, for a total transaction of $201,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.97% of the stock is currently owned by insiders.
Shares of NuVasive stock opened at $57.14 on Friday. The firm’s 50 day moving average price is $57.23 and its 200-day moving average price is $61.30. The company has a quick ratio of 0.94, a current ratio of 1.35 and a debt-to-equity ratio of 0.54. NuVasive, Inc. has a 52-week low of $28.55 and a 52-week high of $81.91. The company has a market cap of $2.93 billion, a P/E ratio of 49.69, a PEG ratio of 5.61 and a beta of 1.39.
NuVasive (NASDAQ:NUVA) last released its earnings results on Wednesday, May 6th. The medical device company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.07. The company had revenue of $259.88 million for the quarter, compared to the consensus estimate of $262.32 million. NuVasive had a net margin of 5.30% and a return on equity of 14.42%. NuVasive’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.53 EPS. As a group, equities research analysts forecast that NuVasive, Inc. will post 0.8 EPS for the current fiscal year.
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 products include 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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