Pillar Pacific Capital Management LLC lowered its position in NuVasive, Inc. (NASDAQ:NUVA) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,700 shares of the medical device company’s stock after selling 300 shares during the quarter. Pillar Pacific Capital Management LLC’s holdings in NuVasive were worth $361,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Carlson Capital L P acquired a new position in NuVasive in the 2nd quarter worth $9,671,000. Zions Bancorporation N.A. raised its stake in shares of NuVasive by 6.1% in the 2nd quarter. Zions Bancorporation N.A. now owns 3,280 shares of the medical device company’s stock valued at $192,000 after purchasing an additional 190 shares in the last quarter. Eminence Capital LP acquired a new stake in shares of NuVasive in the 2nd quarter valued at about $70,171,000. Pacer Advisors Inc. acquired a new stake in shares of NuVasive in the 2nd quarter valued at about $1,203,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of NuVasive in the 3rd quarter valued at about $21,355,000. Hedge funds and other institutional investors own 99.91% of the company’s stock.
NASDAQ NUVA traded up $0.46 on Friday, hitting $71.99. The stock had a trading volume of 1,847 shares, compared to its average volume of 612,146. NuVasive, Inc. has a one year low of $43.51 and a one year high of $73.00. The company has a quick ratio of 2.08, a current ratio of 3.68 and a debt-to-equity ratio of 0.79. The stock has a market cap of $3.69 billion, a price-to-earnings ratio of 32.30, a P/E/G ratio of 2.73 and a beta of 1.18. The company’s 50-day moving average is $65.97 and its two-hundred day moving average is $62.11.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Wednesday, October 30th. The medical device company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. NuVasive had a net margin of 4.15% and a return on equity of 14.93%. The firm had revenue of $290.80 million during the quarter, compared to analysts’ expectations of $283.75 million. During the same quarter in the prior year, the firm earned $0.56 EPS. NuVasive’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that NuVasive, Inc. will post 2.37 earnings per share for the current year.
A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of NuVasive in a research note on Thursday, August 8th. UBS Group upped their target price on shares of NuVasive from $51.00 to $55.00 and gave the company a “sell” rating in a research note on Monday, September 9th. ValuEngine lowered shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. BidaskClub upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Cowen set a $75.00 target price on shares of NuVasive and gave the company a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. NuVasive has an average rating of “Hold” and a consensus price target of $67.42.
NuVasive, Inc, a medical device company, develops and markets minimally disruptive surgical products and procedurally integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal products include Maximum Access Surgery, a minimally disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.
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