NuVasive, Inc. (NASDAQ:NUVA) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its holdings in shares of NuVasive, Inc. (NASDAQ:NUVAGet Rating) by 1.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 637,880 shares of the medical device company’s stock after selling 10,356 shares during the period. Victory Capital Management Inc.’s holdings in NuVasive were worth $27,945,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Point72 Hong Kong Ltd boosted its stake in NuVasive by 28.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock worth $76,000 after purchasing an additional 297 shares during the period. Strs Ohio acquired a new stake in NuVasive during the 2nd quarter worth $73,000. Captrust Financial Advisors boosted its stake in NuVasive by 85.7% during 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 during the period. PNC Financial Services Group Inc. boosted its stake in 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 worth $123,000 after purchasing an additional 942 shares during the period. Finally, Pacer Advisors Inc. acquired a new stake in shares of NuVasive in the 3rd quarter worth $105,000.

NuVasive Price Performance

NASDAQ:NUVA opened at $44.79 on Monday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.72 and a current ratio of 1.21. The firm has a 50-day moving average price of $40.40 and a two-hundred day moving average price of $44.16. NuVasive, Inc. has a twelve month low of $35.17 and a twelve month high of $60.47.

NuVasive (NASDAQ:NUVAGet Rating) last posted its earnings results on Wednesday, November 9th. The medical device company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. NuVasive had a negative net margin of 1.70% and a positive return on equity of 12.49%. The firm had revenue of $295.30 million during the quarter, compared to the consensus estimate of $298.76 million. During the same period last year, the firm posted $0.32 EPS. The firm’s revenue for the quarter was up 9.0% on a year-over-year basis. Analysts expect that NuVasive, Inc. will post 2.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NUVA has been the subject of several recent analyst reports. Wells Fargo & Company reduced their target price on shares of NuVasive from $62.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, November 10th. Barclays initiated coverage on shares of NuVasive in a research note on Monday, October 17th. They issued an “overweight” rating and a $53.00 target price for the company. Morgan Stanley reduced their target price on shares of NuVasive from $48.00 to $44.00 and set an “equal weight” rating for the company in a research note on Thursday, November 10th. Cowen reduced their target price on shares of NuVasive from $65.00 to $50.00 in a research note on Thursday, November 10th. Finally, Citigroup reduced their target price on shares of NuVasive from $65.00 to $63.00 in a research note on Wednesday, October 5th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, NuVasive has a consensus rating of “Moderate Buy” and an average target price of $51.62.

NuVasive 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.

Further Reading

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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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