HPM Partners LLC reduced its stake in NuVasive, Inc. (NASDAQ:NUVA) by 36.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,624 shares of the medical device company’s stock after selling 5,471 shares during the quarter. HPM Partners LLC’s holdings in NuVasive were worth $683,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of NUVA. Sector Gamma AS grew its stake in shares of NuVasive by 5.2% in the 3rd quarter. Sector Gamma AS now owns 395,223 shares of the medical device company’s stock valued at $28,053,000 after purchasing an additional 19,416 shares during the last quarter. MetLife Investment Advisors LLC grew its stake in shares of NuVasive by 18.3% in the 3rd quarter. MetLife Investment Advisors LLC now owns 66,122 shares of the medical device company’s stock valued at $4,693,000 after purchasing an additional 10,216 shares during the last quarter. PointState Capital LP purchased a new position in shares of NuVasive in the 3rd quarter valued at approximately $12,748,000. Redmile Group LLC purchased a new position in shares of NuVasive in the 3rd quarter valued at approximately $31,210,000. Finally, Pacer Advisors Inc. grew its stake in shares of NuVasive by 12.5% in the 3rd quarter. Pacer Advisors Inc. now owns 18,238 shares of the medical device company’s stock valued at $1,295,000 after purchasing an additional 2,021 shares during the last quarter.
NUVA has been the topic of a number of analyst reports. Robert W. Baird upgraded NuVasive from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $60.00 to $82.00 in a research note on Thursday, September 27th. Morgan Stanley decreased their price target on NuVasive from $77.00 to $73.00 and set a “hold” rating on the stock in a research note on Wednesday, October 31st. Canaccord Genuity lifted their price target on NuVasive from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. BidaskClub downgraded NuVasive from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 21st. Finally, Cowen lifted their price target on NuVasive from $62.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $66.78.
Shares of NUVA stock opened at $52.08 on Wednesday. The firm has a market cap of $2.73 billion, a P/E ratio of 27.27, a PEG ratio of 1.59 and a beta of 0.80. NuVasive, Inc. has a 1 year low of $44.62 and a 1 year high of $72.41. The company has a quick ratio of 1.83, a current ratio of 3.45 and a debt-to-equity ratio of 0.74.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, October 30th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.06). The firm had revenue of $271.30 million for the quarter, compared to analyst estimates of $265.70 million. NuVasive had a return on equity of 13.87% and a net margin of 2.24%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. As a group, research analysts predict that NuVasive, Inc. will post 2.18 earnings per share for the current year.
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NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.
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