Principal Financial Group Inc. Increases Position in NuVasive, Inc. (NASDAQ:NUVA)

Principal Financial Group Inc. lifted its holdings in NuVasive, Inc. (NASDAQ:NUVA – Get Rating) by 53.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 346,129 shares of the medical device company’s stock after purchasing an additional 120,263 shares during the period. Principal Financial Group Inc.’s holdings in NuVasive were worth $14,274,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NUVA. Asset Dedication LLC purchased a new stake in NuVasive during the 4th quarter worth approximately $30,000. Point72 Hong Kong Ltd increased 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 buying an additional 297 shares in the last quarter. Captrust Financial Advisors increased 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 buying an additional 973 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of NuVasive by 76.4% in 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, Harbor Investment Advisory LLC grew its position in shares of NuVasive by 147.6% in the fourth quarter. Harbor Investment Advisory LLC now owns 2,516 shares of the medical device company’s stock valued at $104,000 after purchasing an additional 1,500 shares in the last quarter.

NuVasive Stock Performance

NASDAQ:NUVA opened at $37.60 on Thursday. The business’s fifty day moving average price is $40.97 and its 200 day moving average price is $41.54. NuVasive, Inc. has a 12 month low of $35.17 and a 12 month high of $58.55. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.20 and a quick ratio of 0.68. The firm has a market capitalization of $1.97 billion, a PE ratio of 110.59, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07.

NuVasive (NASDAQ:NUVA – Get Rating) last posted its quarterly earnings results on Wednesday, May 10th. The medical device company reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. NuVasive had a net margin of 1.66% and a return on equity of 11.82%. The company had revenue of $307.71 million during the quarter, compared to the consensus estimate of $298.43 million. During the same period last year, the firm earned $0.54 EPS. On average, sell-side analysts anticipate that NuVasive, Inc. will post 2.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NUVA shares. TheStreet upgraded NuVasive from a “d+” rating to a “c-” rating in a research report on Tuesday, April 11th. Barclays upped their price target on NuVasive from $53.00 to $56.00 in a research report on Friday, May 12th. Citigroup lowered NuVasive from a “buy” rating to a “neutral” rating and dropped their price target for the company from $63.00 to $52.00 in a research report on Friday, February 10th. Piper Sandler lowered 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. Finally, Wells Fargo & Company cut NuVasive from an “overweight” rating to an “equal weight” rating and upped their price objective for the company from $47.00 to $57.72 in a report on Friday, February 10th. Ten analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $50.98.

About NuVasive

(Get Rating)

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.