Victory Capital Management Inc. Acquires 68,094 Shares of NuVasive, Inc. (NASDAQ:NUVA)

Victory Capital Management Inc. increased its stake in NuVasive, Inc. (NASDAQ:NUVA – Get Rating) by 10.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 705,974 shares of the medical device company’s stock after purchasing an additional 68,094 shares during the quarter. Victory Capital Management Inc. owned about 1.35% of NuVasive worth $29,200,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NUVA. Asset Dedication LLC purchased a new stake in shares of NuVasive during the 4th quarter valued at $30,000. Point72 Hong Kong Ltd raised its position in NuVasive by 28.3% during the first quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 297 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in NuVasive by 147.6% during the fourth quarter. Harbor Investment Advisory LLC now owns 2,516 shares of the medical device company’s stock worth $104,000 after purchasing an additional 1,500 shares during the last quarter. Captrust Financial Advisors boosted its holdings in shares of NuVasive by 85.7% in the 1st quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company’s stock worth $120,000 after purchasing an additional 973 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of NuVasive by 76.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,175 shares of the medical device company’s stock valued at $123,000 after purchasing an additional 942 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NUVA. Citigroup cut shares of NuVasive from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $63.00 to $52.00 in a research report on Friday, February 10th. JPMorgan Chase & Co. lifted their price objective on NuVasive from $38.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, February 23rd. StockNews.com started coverage on NuVasive in a research report on Sunday. They issued a “hold” rating for the company. Wells Fargo & Company cut NuVasive from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $47.00 to $57.72 in a research note on Friday, February 10th. Finally, Morgan Stanley upped their price target on NuVasive from $44.00 to $44.50 and gave the stock an “equal weight” rating in a research note on Thursday, February 23rd. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $50.98.

NuVasive Stock Down 2.1 %

Shares of NUVA opened at $39.89 on Friday. The company has a market cap of $2.09 billion, a PE ratio of 117.33, a P/E/G ratio of 0.93 and a beta of 1.07. The business has a fifty day moving average of $40.96 and a 200 day moving average of $41.61. NuVasive, Inc. has a 52-week low of $35.17 and a 52-week high of $58.55. The company has a quick ratio of 0.68, a current ratio of 1.20 and a debt-to-equity ratio of 0.51.

NuVasive (NASDAQ:NUVA – Get Rating) last issued its earnings results on Wednesday, May 10th. The medical device company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. NuVasive had a return on equity of 11.82% and a net margin of 1.66%. The business had revenue of $307.71 million during the quarter, compared to analyst estimates of $298.43 million. During the same period in the previous year, the company posted $0.54 EPS. On average, sell-side analysts expect that NuVasive, Inc. will post 2.19 EPS for the current year.

NuVasive Company Profile

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NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.