Mutual of America Capital Management LLC Boosts Stake in NuVasive, Inc. (NASDAQ:NUVA)

Mutual of America Capital Management LLC grew its stake in NuVasive, Inc. (NASDAQ:NUVAGet Rating) by 2.0% in the first quarter, HoldingsChannel reports. The institutional investor owned 47,183 shares of the medical device company’s stock after buying an additional 905 shares during the period. Mutual of America Capital Management LLC’s holdings in NuVasive were worth $2,675,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. ProShare Advisors LLC raised its holdings in shares of NuVasive by 51.2% during the fourth quarter. ProShare Advisors LLC now owns 17,280 shares of the medical device company’s stock worth $907,000 after purchasing an additional 5,854 shares during the last quarter. Nekton Capital Ltd. purchased a new position in shares of NuVasive during the fourth quarter worth $11,465,000. New York State Common Retirement Fund raised its holdings in shares of NuVasive by 6.4% during the fourth quarter. New York State Common Retirement Fund now owns 303,267 shares of the medical device company’s stock worth $15,915,000 after purchasing an additional 18,187 shares during the last quarter. Paradice Investment Management LLC raised its holdings in shares of NuVasive by 15.9% during the fourth quarter. Paradice Investment Management LLC now owns 1,593,568 shares of the medical device company’s stock worth $83,630,000 after purchasing an additional 218,147 shares during the last quarter. Finally, FDx Advisors Inc. increased its holdings in NuVasive by 25.0% in the fourth quarter. FDx Advisors Inc. now owns 4,795 shares of the medical device company’s stock valued at $252,000 after buying an additional 960 shares in the last quarter.

NuVasive Price Performance

Shares of NUVA stock opened at $52.69 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 3.18 and a quick ratio of 1.88. The firm’s 50-day moving average is $51.58 and its two-hundred day moving average is $52.98. NuVasive, Inc. has a 12 month low of $45.45 and a 12 month high of $66.17. The company has a market capitalization of $2.74 billion, a PE ratio of -70.25, a price-to-earnings-growth ratio of 1.99 and a beta of 1.14.

NuVasive (NASDAQ:NUVAGet Rating) last released its quarterly earnings results on Wednesday, May 4th. The medical device company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.16. The business had revenue of $290.80 million for the quarter, compared to the consensus estimate of $277.63 million. NuVasive had a negative net margin of 3.23% and a positive return on equity of 11.85%. The business’s revenue was up 7.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.37 EPS. Analysts predict that NuVasive, Inc. will post 2.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Morgan Stanley cut their price objective on shares of NuVasive from $62.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. StockNews.com started coverage on shares of NuVasive in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Truist Financial dropped their target price on shares of NuVasive to $63.00 in a research report on Friday, July 22nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $62.60.

NuVasive Company Profile

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NuVasive, Inc, a medical technology company, develops, manufactures, and sells procedural solutions for spine surgery. It provides surgical access instruments, including Maxcess integrated split-blade retractor system that enable less-invasive surgical techniques by minimizing soft tissue disruption during spine surgery; specialized spinal implants to advance spinal fusion by enhancing the osseointegration and biomechanical properties of implant materials, including porous titanium and porous polyetheretherketone; and fixation system that facilitates the preservation and restoration of patient alignment.

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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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