Seven Eight Capital LP purchased a new stake in NuVasive, Inc. (NASDAQ:NUVA – Free Report) 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 – Get Free Report) 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.
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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