NuVasive, Inc. (NUVA) Shares Sold by Navellier & Associates Inc
Navellier & Associates Inc decreased its stake in NuVasive, Inc. (NASDAQ:NUVA) by 2.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,691 shares of the medical device company’s stock after selling 1,487 shares during the period. Navellier & Associates Inc owned about 0.14% of NuVasive worth $5,279,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of NUVA. Norges Bank acquired a new position in shares of NuVasive during the fourth quarter valued at approximately $47,466,000. Viking Global Investors LP acquired a new position in shares of NuVasive during the fourth quarter valued at approximately $46,863,000. Capital Research Global Investors increased its position in shares of NuVasive by 15.3% in the third quarter. Capital Research Global Investors now owns 5,153,900 shares of the medical device company’s stock valued at $343,559,000 after buying an additional 682,753 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of NuVasive by 21.8% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,526,890 shares of the medical device company’s stock valued at $101,782,000 after buying an additional 273,112 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new position in shares of NuVasive during the fourth quarter valued at approximately $12,558,000.
Shares of NuVasive, Inc. (NASDAQ:NUVA) traded down 0.90% during trading on Friday, reaching $75.02. The company’s stock had a trading volume of 196,064 shares. The stock has a market cap of $3.80 billion, a P/E ratio of 108.72 and a beta of 0.86. NuVasive, Inc. has a 52-week low of $49.87 and a 52-week high of $76.31. The stock has a 50-day moving average of $74.23 and a 200-day moving average of $68.92.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Thursday, February 9th. The medical device company reported $0.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.02. NuVasive had a return on equity of 12.26% and a net margin of 3.29%. The business had revenue of $271.10 million for the quarter, compared to the consensus estimate of $261.25 million. During the same quarter last year, the business posted $0.35 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Analysts predict that NuVasive, Inc. will post $2.02 earnings per share for the current fiscal year.
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Several research analysts have recently commented on NUVA shares. Canaccord Genuity reiterated a “buy” rating and set a $82.00 target price on shares of NuVasive in a research note on Tuesday, February 21st. Barclays PLC reiterated an “overweight” rating and set a $80.00 target price (up from $76.00) on shares of NuVasive in a research note on Thursday, February 16th. Zacks Investment Research downgraded NuVasive from a “hold” rating to a “sell” rating in a research note on Wednesday, December 28th. Jefferies Group LLC lifted their target price on NuVasive to $84.00 in a research note on Friday, February 10th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NuVasive in a research note on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $72.42.
In other news, Director Lesley H. Howe sold 6,049 shares of the firm’s stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $73.26, for a total transaction of $443,149.74. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jason Hannon sold 24,840 shares of the firm’s stock in a transaction dated Wednesday, March 8th. The shares were sold at an average price of $74.22, for a total value of $1,843,624.80. 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. 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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