Moore Capital Management LP Sells 12,500 Shares of NuVasive, Inc. (NASDAQ:NUVA)

Moore Capital Management LP lowered its holdings in NuVasive, Inc. (NASDAQ:NUVA – Get Rating) by 50.0% during the third quarter, HoldingsChannel.com reports. The fund owned 12,500 shares of the medical device company’s stock after selling 12,500 shares during the period. Moore Capital Management LP’s holdings in NuVasive were worth $548,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NUVA. Raymond James & Associates increased its stake in NuVasive by 8.9% in the first quarter. Raymond James & Associates now owns 26,823 shares of the medical device company’s stock valued at $1,521,000 after acquiring an additional 2,185 shares during the period. PNC Financial Services Group Inc. grew 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 worth $123,000 after buying an additional 942 shares during the last quarter. Bank of Montreal Can grew its stake in NuVasive by 16.7% during the first quarter. Bank of Montreal Can now owns 10,222 shares of the medical device company’s stock worth $585,000 after buying an additional 1,462 shares during the last quarter. Acadian Asset Management LLC bought a new stake in NuVasive during the first quarter worth about $189,000. Finally, MetLife Investment Management LLC grew its stake in NuVasive by 40.5% during the first quarter. MetLife Investment Management LLC now owns 61,194 shares of the medical device company’s stock worth $3,470,000 after buying an additional 17,640 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have weighed in on NUVA shares. Robert W. Baird decreased their price objective on shares of NuVasive to $46.00 in a research note on Tuesday, November 15th. Truist Financial cut shares of NuVasive from a “buy” rating to a “hold” rating and upped their price objective for the stock from $51.00 to $52.50 in a research note on Friday, February 10th. StockNews.com initiated coverage on shares of NuVasive in a research note on Friday. They set a “hold” rating on the stock. Morgan Stanley upped their target price on shares of NuVasive from $44.00 to $44.50 and gave the stock an “equal weight” rating in a research report on Thursday, February 23rd. Finally, Piper Sandler lowered shares of NuVasive from an “overweight” rating to a “neutral” rating in a research report on Thursday, February 9th. They noted that the move was a valuation call. Ten equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.77.

NuVasive Trading Down 1.6 %

Shares of NASDAQ NUVA opened at $40.05 on Friday. The company’s 50 day simple moving average is $44.19 and its 200 day simple moving average is $42.68. NuVasive, Inc. has a fifty-two week low of $35.17 and a fifty-two week high of $60.47. The firm has a market capitalization of $2.09 billion, a P/E ratio of 56.41, a P/E/G ratio of 1.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.21 and a quick ratio of 0.74.

NuVasive (NASDAQ:NUVA – Get Rating) last announced its quarterly earnings data on Wednesday, February 22nd. The medical device company reported $0.43 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.08). NuVasive had a net margin of 3.36% and a return on equity of 12.45%. The business had revenue of $305.45 million during the quarter, compared to analyst estimates of $311.01 million. During the same quarter in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that NuVasive, Inc. will post 1.92 EPS for the current year.

About NuVasive

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NuVasive, Inc engages in the development, manufacture, sale, and provision of procedural solutions for spine surgery. It offers a comprehensive portfolio of procedurally integrated spine surgery solutions, including surgical access instruments, spinal implants, fixation systems, biologics, and enabling technologies, as well as systems and services for intraoperative neuromonitoring.