Victory Capital Management Inc. raised its stake in NuVasive Inc. (NASDAQ:NUVA) by 77.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,884 shares of the medical device company’s stock after buying an additional 820 shares during the period. Victory Capital Management Inc.’s holdings in NuVasive were worth $113,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the company. Consonance Capital Management LP acquired a new position in shares of NuVasive during the first quarter valued at $48,893,000. Norges Bank acquired a new position in shares of NuVasive during the fourth quarter valued at $39,420,000. Hood River Capital Management LLC acquired a new position in shares of NuVasive during the second quarter valued at $25,307,000. Columbus Circle Investors increased its position in shares of NuVasive by 50.4% in the second quarter. Columbus Circle Investors now owns 1,020,650 shares of the medical device company’s stock valued at $60,953,000 after buying an additional 341,843 shares during the period. Finally, Blair William & Co. IL increased its position in shares of NuVasive by 760.5% in the second quarter. Blair William & Co. IL now owns 245,333 shares of the medical device company’s stock valued at $14,651,000 after buying an additional 216,822 shares during the period.
Shares of NuVasive Inc. (NASDAQ:NUVA) traded down 0.46% on Friday, hitting $66.75. The stock had a trading volume of 87,867 shares. The firm has a 50 day moving average of $65.76 and a 200 day moving average of $58.43. The stock has a market cap of $3.35 billion, a P/E ratio of 69.24 and a beta of 0.51. NuVasive Inc. has a 12 month low of $36.81 and a 12 month high of $69.00.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The firm earned $236.50 million during the quarter, compared to analysts’ expectations of $232.86 million. NuVasive had a return on equity of 10.57% and a net margin of 5.28%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.31 earnings per share. On average, equities analysts forecast that NuVasive Inc. will post $1.65 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on NUVA shares. Jefferies Group reiterated a “buy” rating on shares of NuVasive in a report on Wednesday, August 3rd. Barclays PLC increased their price target on shares of NuVasive from $63.00 to $71.00 and gave the stock an “overweight” rating in a report on Wednesday, July 27th. Zacks Investment Research upgraded shares of NuVasive from a “hold” rating to a “strong-buy” rating and set a $70.00 price target on the stock in a report on Thursday, July 28th. TheStreet upgraded NuVasive from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 26th. Finally, JPMorgan Chase & Co. upgraded NuVasive from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $55.00 to $74.00 in a research report on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $66.09.
In other NuVasive news, EVP Jason Hannon sold 2,625 shares of NuVasive stock in a transaction that occurred on Tuesday, August 23rd. The stock was sold at an average price of $64.80, for a total transaction of $170,100.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Lesley H. Howe sold 3,602 shares of NuVasive stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $62.44, for a total value of $224,908.88. The disclosure for this sale can be found here. Company insiders own 4.70% of the company’s stock.
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
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