DNB Asset Management AS Cuts Stock Holdings in NuVasive, Inc. (NASDAQ:NUVA)

DNB Asset Management AS lessened its position in NuVasive, Inc. (NASDAQ:NUVA) by 12.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,000 shares of the medical device company’s stock after selling 10,000 shares during the period. DNB Asset Management AS owned about 0.14% of NuVasive worth $4,563,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Retirement Systems of Alabama grew its holdings in NuVasive by 0.4% in the second quarter. Retirement Systems of Alabama now owns 67,488 shares of the medical device company’s stock valued at $3,951,000 after purchasing an additional 270 shares during the period. Zions Bancorporation N.A. grew its stake in NuVasive by 6.1% during the second quarter. Zions Bancorporation N.A. now owns 3,280 shares of the medical device company’s stock worth $192,000 after buying an additional 190 shares during the period. Oregon Public Employees Retirement Fund grew its stake in NuVasive by 1.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 20,886 shares of the medical device company’s stock worth $1,223,000 after buying an additional 295 shares during the period. Cerebellum GP LLC purchased a new stake in NuVasive during the second quarter worth approximately $354,000. Finally, Westside Investment Management Inc. purchased a new stake in NuVasive during the second quarter worth approximately $87,000. 99.91% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:NUVA traded up $0.66 on Friday, reaching $72.19. 306,400 shares of the company’s stock were exchanged, compared to its average volume of 558,315. The company has a quick ratio of 2.08, a current ratio of 3.68 and a debt-to-equity ratio of 0.79. NuVasive, Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $73.00. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 32.37, a PEG ratio of 2.73 and a beta of 1.18. The business’s 50-day moving average is $66.10 and its two-hundred day moving average is $62.20.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Wednesday, October 30th. The medical device company reported $0.59 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.06. NuVasive had a net margin of 4.15% and a return on equity of 14.93%. The company had revenue of $290.80 million during the quarter, compared to analyst estimates of $283.75 million. During the same period in the prior year, the firm earned $0.56 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. Analysts predict that NuVasive, Inc. will post 2.37 earnings per share for the current fiscal year.

NUVA has been the subject of several research reports. TheStreet upgraded shares of NuVasive from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. BTIG Research set a $71.00 target price on shares of NuVasive and gave the company a “buy” rating in a research note on Friday, August 9th. BMO Capital Markets upped their target price on shares of NuVasive from $54.00 to $68.00 and gave the company a “market perform” rating in a research note on Friday, August 9th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “buy” rating and set a $74.00 target price for the company in a research note on Friday, November 1st. Finally, Needham & Company LLC restated a “hold” rating on shares of NuVasive in a research note on Thursday, August 8th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $67.42.

NuVasive Profile

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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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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