Mutual of America Capital Management LLC Sells 3,677 Shares of NuVasive, Inc. (NASDAQ:NUVA)

Mutual of America Capital Management LLC reduced its position in NuVasive, Inc. (NASDAQ:NUVAGet Rating) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,506 shares of the medical device company’s stock after selling 3,677 shares during the quarter. Mutual of America Capital Management LLC’s holdings in NuVasive were worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NUVA. Strs Ohio bought a new position in shares of NuVasive during the second quarter worth $73,000. Point72 Hong Kong Ltd raised its stake 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. Captrust Financial Advisors raised its stake in NuVasive by 85.7% during the first quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company’s stock valued at $120,000 after purchasing an additional 973 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in NuVasive by 76.4% during the first 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 in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in NuVasive during the first quarter valued at $189,000.

Analyst Upgrades and Downgrades

NUVA has been the topic of a number of recent research reports. Royal Bank of Canada decreased their price target on shares of NuVasive from $63.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, November 10th. Wells Fargo & Company reduced their target price on shares of NuVasive from $62.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, November 10th. Morgan Stanley reduced their target price on shares of NuVasive from $48.00 to $44.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 10th. Barclays began coverage on shares of NuVasive in a research note on Monday, October 17th. They issued an “overweight” rating and a $53.00 target price on the stock. Finally, Truist Financial reduced their target price on shares of NuVasive from $63.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, October 7th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $51.62.

NuVasive Stock Up 1.3 %

Shares of NuVasive stock opened at $37.63 on Thursday. NuVasive, Inc. has a 1 year low of $35.17 and a 1 year high of $60.47. The stock has a market cap of $1.96 billion, a price-to-earnings ratio of -89.60, a PEG ratio of 1.13 and a beta of 1.06. 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’s 50-day moving average is $41.79 and its two-hundred day moving average is $47.44.

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

NuVasive Company Profile

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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.

See Also

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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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