Seven Eight Capital LP Takes Position in NuVasive, Inc. (NASDAQ:NUVA)

Seven Eight Capital LP purchased a new stake in NuVasive, Inc. (NASDAQ:NUVA) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 36,046 shares of the medical device company’s stock, valued at approximately $1,489,000. Seven Eight Capital LP owned approximately 0.07% of NuVasive as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in NUVA. Quadrant Capital Group LLC increased its holdings in shares of NuVasive by 131.4% in the 4th quarter. Quadrant Capital Group LLC now owns 634 shares of the medical device company’s stock valued at $26,000 after purchasing an additional 360 shares in the last quarter. Beaird Harris Wealth Management LLC purchased a new position in NuVasive during the 1st quarter valued at about $29,000. Nisa Investment Advisors LLC increased its holdings in NuVasive by 64.2% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the medical device company’s stock valued at $45,000 after acquiring an additional 430 shares in the last quarter. FNY Investment Advisers LLC purchased a new position in NuVasive during the 1st quarter valued at about $49,000. Finally, Bessemer Group Inc. purchased a new position in NuVasive during the 1st quarter valued at about $56,000.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NUVA. StockNews.com began coverage on shares of NuVasive in a report on Sunday. They set a “hold” rating for the company. Truist Financial raised their target price on shares of NuVasive from $48.00 to $51.00 in a report on Wednesday, July 19th. Morgan Stanley raised their price target on shares of NuVasive from $40.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Finally, Barclays raised their price target on shares of NuVasive from $56.00 to $58.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Ten research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, NuVasive presently has a consensus rating of “Hold” and an average target price of $50.75.

NuVasive Price Performance

NUVA opened at $39.75 on Friday. The stock has a market capitalization of $2.08 billion, a PE ratio of 79.50 and a beta of 1.07. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.65 and a current ratio of 1.25. NuVasive, Inc. has a 1 year low of $35.17 and a 1 year high of $49.53. The company’s 50 day simple moving average is $40.68 and its 200 day simple moving average is $40.77.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings results on Wednesday, August 2nd. The medical device company reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. The firm had revenue of $317.80 million for the quarter, compared to analysts’ expectations of $322.53 million. NuVasive had a net margin of 2.32% and a return on equity of 12.17%. NuVasive’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, sell-side analysts expect that NuVasive, Inc. will post 2.22 EPS for the current year.

About NuVasive

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.