Dupont Capital Management Corp lowered its position in NuVasive, Inc. (NASDAQ:NUVA) by 9.0% in the second quarter, HoldingsChannel reports. The firm 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 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of NUVA. Norges Bank acquired a new position in NuVasive in the fourth quarter valued at about $76,528,000. Lord Abbett & CO. LLC acquired a new position in NuVasive in the first quarter valued at about $44,332,000. Loomis Sayles & Co. L P acquired a new position in NuVasive in the first quarter valued at about $19,269,000. Ziegler Capital Management LLC acquired a new position in NuVasive in the first quarter valued at about $10,374,000. Finally, Scout Investments Inc. acquired a new position in NuVasive in the second quarter valued at about $9,871,000.

A number of research analysts have commented on the stock. Wells Fargo & Co upped their target price on shares of NuVasive from $62.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, June 5th. Robert W. Baird raised shares of NuVasive from a “neutral” rating to an “outperform” rating in a research report on Sunday, April 19th. Canaccord Genuity decreased their target price on shares of NuVasive from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, May 7th. Morgan Stanley reissued a “hold” rating on shares of NuVasive in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of NuVasive from $80.00 to $60.00 and set a “neutral” rating on the stock in a research report on Monday, May 4th. Two equities 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 stock presently has an average rating of “Hold” and a consensus price target of $70.35.

In related news, President Matthew Link sold 3,000 shares of the firm’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 value of $201,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.97% of the stock is owned by company insiders.

Shares of NASDAQ:NUVA 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 stock has a market cap of $2.93 billion, a price-to-earnings ratio of 49.69, a price-to-earnings-growth ratio of 5.61 and a beta of 1.39. NuVasive, Inc. has a fifty-two week low of $28.55 and a fifty-two week high of $81.91. 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 (NASDAQ:NUVA) last issued its earnings results on Wednesday, May 6th. The medical device company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.07. The firm had revenue of $259.88 million for the quarter, compared to analysts’ expectations of $262.32 million. NuVasive had a net margin of 5.30% and a return on equity of 14.42%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. On average, equities analysts anticipate that NuVasive, Inc. will post 0.8 EPS for the current year.

NuVasive Company Profile

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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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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