Cerity Partners LLC Invests $200,000 in NuVasive, Inc. (NASDAQ:NUVA)

Cerity Partners LLC bought a new position in NuVasive, Inc. (NASDAQ:NUVAGet Rating) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,068 shares of the medical device company’s stock, valued at approximately $200,000.

Other large investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd lifted its holdings in NuVasive by 28.3% in the first quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock worth $76,000 after acquiring an additional 297 shares during the last quarter. Strs Ohio bought a new position in NuVasive in the second quarter worth about $73,000. Captrust Financial Advisors lifted its holdings in NuVasive by 85.7% in the first quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company’s stock worth $120,000 after acquiring an additional 973 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in NuVasive by 76.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,175 shares of the medical device company’s stock worth $123,000 after acquiring an additional 942 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in NuVasive in the first quarter worth about $189,000.

NuVasive Price Performance

NASDAQ NUVA opened at $37.14 on Wednesday. NuVasive, Inc. has a 12 month low of $35.17 and a 12 month high of $60.47. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.21 and a quick ratio of 0.72. The firm has a market capitalization of $1.94 billion, a PE ratio of -88.43, a P/E/G ratio of 1.13 and a beta of 1.06. The company’s 50 day simple moving average is $42.00 and its 200 day simple moving average is $47.51.

NuVasive (NASDAQ:NUVAGet Rating) last posted its quarterly earnings data on Wednesday, November 9th. The medical device company reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. NuVasive had a negative net margin of 1.70% and a positive return on equity of 12.49%. The business had revenue of $295.30 million for the quarter, compared to analyst estimates of $298.76 million. During the same quarter last year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was up 9.0% on a year-over-year basis. As a group, equities research analysts forecast that NuVasive, Inc. will post 2.04 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NUVA. Wells Fargo & Company cut their target price on shares of NuVasive from $62.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, November 10th. Needham & Company LLC cut their price target on NuVasive from $53.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, November 10th. Canaccord Genuity Group lifted their price target on NuVasive from $50.00 to $55.00 in a report on Friday, August 5th. Truist Financial cut their price target on NuVasive from $63.00 to $58.00 and set a “buy” rating on the stock in a report on Friday, October 7th. Finally, Citigroup cut their price target on NuVasive from $65.00 to $63.00 in a report on Wednesday, October 5th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, NuVasive has an average rating of “Moderate Buy” and an average target price of $51.62.

About NuVasive

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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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