NuVasive, Inc. (NUVA) Position Lessened by Capital Research Global Investors
Capital Research Global Investors reduced its position in shares of NuVasive, Inc. (NASDAQ:NUVA) by 11.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,859,875 shares of the medical device company’s stock after selling 361,120 shares during the period. Capital Research Global Investors owned 5.63% of NuVasive worth $219,982,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in NuVasive by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock valued at $320,312,000 after purchasing an additional 53,769 shares during the last quarter. Champlain Investment Partners LLC raised its stake in NuVasive by 2.3% during the 1st quarter. Champlain Investment Partners LLC now owns 1,908,280 shares of the medical device company’s stock valued at $142,510,000 after purchasing an additional 42,395 shares during the last quarter. Voya Investment Management LLC raised its stake in NuVasive by 43.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock valued at $130,761,000 after purchasing an additional 517,115 shares during the last quarter. State Street Corp raised its stake in NuVasive by 2.5% during the 1st quarter. State Street Corp now owns 1,641,997 shares of the medical device company’s stock valued at $122,617,000 after purchasing an additional 40,416 shares during the last quarter. Finally, Northern Trust Corp raised its stake in NuVasive by 2.6% during the 2nd quarter. Northern Trust Corp now owns 837,154 shares of the medical device company’s stock valued at $64,393,000 after purchasing an additional 21,340 shares during the last quarter.
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Shares of NuVasive, Inc. (NASDAQ:NUVA) traded up 0.77% during trading on Thursday, hitting $56.16. 86,092 shares of the stock were exchanged. The firm’s 50-day moving average is $59.38 and its 200 day moving average is $70.44. The company has a market cap of $2.85 billion, a P/E ratio of 88.44 and a beta of 1.03. NuVasive, Inc. has a 1-year low of $52.85 and a 1-year high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. NuVasive’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share. Equities analysts forecast that NuVasive, Inc. will post $2.00 earnings per share for the current fiscal year.
Several research firms recently commented on NUVA. Morgan Stanley reiterated an “equal weight” rating and set a $88.00 target price (up from $84.00) on shares of NuVasive in a research note on Tuesday, July 25th. Royal Bank Of Canada reiterated a “buy” rating and set a $85.00 target price on shares of NuVasive in a research note on Thursday, July 20th. BidaskClub upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Piper Jaffray Companies upped their target price on shares of NuVasive from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, June 12th. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $84.00 target price on shares of NuVasive in a research note on Friday, June 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $79.31.
In related news, Director Lesley H. Howe sold 3,970 shares of the business’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $64.64, for a total value of $256,620.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Peter Michael Leddy purchased 7,850 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average cost of $63.88 per share, with a total value of $501,458.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 14,850 shares of company stock valued at $955,598. 1.20% of the stock is currently owned by company insiders.
NuVasive Company Profile
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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