Viking Global Investors LP lessened its stake in NuVasive, Inc. (NASDAQ:NUVA) by 18.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 1,791,291 shares of the medical device company’s stock after selling 405,461 shares during the period. Viking Global Investors LP’s holdings in NuVasive were worth $104,773,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Zions Bancorporation acquired a new stake in NuVasive in the 3rd quarter valued at approximately $160,000. Baird Financial Group Inc. acquired a new stake in NuVasive in the 4th quarter valued at approximately $205,000. Icon Advisers Inc. Co. acquired a new stake in NuVasive in the 3rd quarter valued at approximately $360,000. Crossmark Global Holdings Inc. acquired a new stake in NuVasive in the 3rd quarter valued at approximately $427,000. Finally, ING Groep NV increased its holdings in NuVasive by 23.6% in the 4th quarter. ING Groep NV now owns 7,691 shares of the medical device company’s stock valued at $450,000 after purchasing an additional 1,469 shares during the last quarter.
NUVA has been the subject of several research reports. Wells Fargo & Co downgraded shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a report on Wednesday, January 17th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research note on Tuesday, December 19th. BMO Capital Markets restated a “buy” rating and issued a $70.00 price target on shares of NuVasive in a research note on Thursday, December 14th. BidaskClub downgraded shares of NuVasive from a “hold” rating to a “sell” rating in a research note on Wednesday, December 27th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $90.00 price target on shares of NuVasive in a research note on Tuesday, January 9th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $68.19.
Shares of NuVasive, Inc. (NASDAQ:NUVA) opened at $51.89 on Friday. The stock has a market cap of $2,659.73, a price-to-earnings ratio of 27.03, a PEG ratio of 1.33 and a beta of 0.50. NuVasive, Inc. has a 1 year low of $44.62 and a 1 year high of $81.68. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.94 and a current ratio of 3.48.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Monday, February 26th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.56. The business had revenue of $271.70 million during the quarter, compared to analysts’ expectations of $272.11 million. NuVasive had a net margin of 8.06% and a return on equity of 13.40%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. research analysts anticipate that NuVasive, Inc. will post 2.46 earnings per share for the current year.
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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