Posted by admin on Aug 12th, 2022

Victory Capital Management Inc. reduced its position in shares of NuVasive, Inc. (NASDAQ:NUVA – Get Rating) by 19.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,269 shares of the medical device company’s stock after selling 10,650 shares during the period. Victory Capital Management Inc. owned about 0.09% of NuVasive worth $2,277,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of NUVA. Fort Washington Investment Advisors Inc. OH raised its holdings in NuVasive by 0.6% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 251,170 shares of the medical device company’s stock worth $14,241,000 after acquiring an additional 1,400 shares in the last quarter. Verdence Capital Advisors LLC bought a new stake in NuVasive during the first quarter worth about $204,000. Mutual of America Capital Management LLC raised its holdings in NuVasive by 2.0% during the first quarter. Mutual of America Capital Management LLC now owns 47,183 shares of the medical device company’s stock worth $2,675,000 after acquiring an additional 905 shares in the last quarter. Comerica Bank raised its holdings in NuVasive by 1.7% during the first quarter. Comerica Bank now owns 23,175 shares of the medical device company’s stock worth $1,384,000 after acquiring an additional 387 shares in the last quarter. Finally, Campbell Newman Asset Management Inc. raised its holdings in NuVasive by 3.4% during the first quarter. Campbell Newman Asset Management Inc. now owns 9,416 shares of the medical device company’s stock worth $534,000 after acquiring an additional 312 shares in the last quarter.

Several research firms recently issued reports on NUVA. Piper Sandler dropped their target price on NuVasive from $80.00 to $60.00 and set an “overweight” rating on the stock in a report on Thursday, August 4th. Truist Financial dropped their price objective on NuVasive to $63.00 in a research note on Friday, July 22nd. Morgan Stanley dropped their price objective on NuVasive from $62.00 to $54.00 and set an “equal weight” rating on the stock in a research note on Friday, July 15th. Finally, Canaccord Genuity Group increased their target price on NuVasive from $50.00 to $55.00 in a research note on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, NuVasive has a consensus rating of “Hold” and an average target price of $61.75.

Shares of NUVA stock opened at $52.57 on Friday. The stock’s fifty day moving average price is $50.75 and its two-hundred day moving average price is $52.70. The company has a market cap of $2.74 billion, a PE ratio of -65.71, a P/E/G ratio of 2.04 and a beta of 1.14. NuVasive, Inc. has a fifty-two week low of $45.45 and a fifty-two week high of $64.43. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.70 and a current ratio of 1.17.

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.

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