Gamco Investors INC. ET AL lowered its position in shares of NuVasive, Inc. (NASDAQ:NUVA) by 11.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 159,674 shares of the medical device company’s stock after selling 21,629 shares during the quarter. Gamco Investors INC. ET AL owned about 0.31% of NuVasive worth $11,334,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Zions Bancorporation bought a new stake in NuVasive during the third quarter valued at $225,000. Strs Ohio boosted its position in NuVasive by 45.5% during the second quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock valued at $166,000 after acquiring an additional 1,000 shares during the last quarter. Sun Life Financial INC bought a new stake in NuVasive during the second quarter valued at $201,000. Cubist Systematic Strategies LLC bought a new stake in NuVasive during the second quarter valued at $221,000. Finally, Hartford Investment Management Co. bought a new stake in NuVasive during the second quarter valued at $245,000.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. BidaskClub cut shares of NuVasive from a “buy” rating to a “hold” rating in a research report on Friday, August 10th. ValuEngine raised shares of NuVasive from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. BTIG Research increased their price objective on shares of NuVasive to $72.00 and gave the stock a “buy” rating in a research report on Thursday, August 16th. Finally, TheStreet raised shares of NuVasive from a “c+” rating to a “b-” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. NuVasive has a consensus rating of “Hold” and a consensus price target of $67.63.
NUVA stock opened at $57.93 on Friday. The stock has a market cap of $2.90 billion, a PE ratio of 30.33, a P/E/G ratio of 1.69 and a beta of 0.78. The company has a current ratio of 3.45, a quick ratio of 1.83 and a debt-to-equity ratio of 0.74. NuVasive, Inc. has a 1 year low of $44.62 and a 1 year high of $72.41.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.06). NuVasive had a net margin of 2.24% and a return on equity of 13.87%. The business had revenue of $271.30 million during the quarter, compared to the consensus estimate of $265.70 million. During the same period in the previous year, the business posted $0.52 EPS. NuVasive’s revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts expect that NuVasive, Inc. will post 2.18 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 product is 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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