9,252 Shares in NuVasive, Inc. (NASDAQ:NUVA) Purchased by Prelude Capital Management LLC

Prelude Capital Management LLC purchased a new position in NuVasive, Inc. (NASDAQ:NUVA – Get Rating) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 9,252 shares of the medical device company’s stock, valued at approximately $405,000.

Other large investors also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in NuVasive by 536.8% during the third quarter. The Manufacturers Life Insurance Company now owns 401,689 shares of the medical device company’s stock valued at $17,598,000 after purchasing an additional 338,609 shares during the last quarter. Woodline Partners LP lifted its position in shares of NuVasive by 102.6% during the 2nd quarter. Woodline Partners LP now owns 665,010 shares of the medical device company’s stock valued at $32,692,000 after acquiring an additional 336,741 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in shares of NuVasive by 348.3% during the 2nd quarter. Eagle Asset Management Inc. now owns 257,488 shares of the medical device company’s stock worth $12,658,000 after acquiring an additional 200,056 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of NuVasive by 22.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,049,546 shares of the medical device company’s stock worth $59,509,000 after acquiring an additional 192,295 shares during the last quarter. Finally, Boothbay Fund Management LLC acquired a new stake in shares of NuVasive during the third quarter worth $7,332,000.

NuVasive Price Performance

Shares of NUVA opened at $38.75 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.74 and a current ratio of 1.21. The firm has a market cap of $2.02 billion, a PE ratio of 54.58, a PEG ratio of 1.04 and a beta of 1.05. The firm’s 50 day moving average price is $44.19 and its 200 day moving average price is $42.63. NuVasive, Inc. has a twelve month low of $35.17 and a twelve month high of $60.47.

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

Analyst Upgrades and Downgrades

NUVA has been the topic of a number of analyst reports. Needham & Company LLC cut NuVasive from a “buy” rating to a “hold” rating in a research note on Friday, January 6th. StockNews.com assumed coverage on shares of NuVasive in a research report on Friday. They issued a “hold” rating for the company. Wells Fargo & Company lowered shares of NuVasive from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $47.00 to $57.72 in a research note on Friday, February 10th. TheStreet downgraded shares of NuVasive from a “c-” rating to a “d+” rating in a research note on Monday, November 28th. Finally, Piper Sandler cut 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $50.77.

NuVasive Profile

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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.