Posted by admin on Aug 15th, 2022
Campbell & CO Investment Adviser LLC lessened its stake in NuVasive, Inc. (NASDAQ:NUVA – Get Rating) by 36.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,195 shares of the medical device company’s stock after selling 3,566 shares during the period. Campbell & CO Investment Adviser LLC’s holdings in NuVasive were worth $351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Verdence Capital Advisors LLC acquired a new stake in NuVasive in the first quarter worth about $204,000. Inspire Investing LLC acquired a new stake in NuVasive in the first quarter worth about $236,000. Profund Advisors LLC boosted its holdings in NuVasive by 5.3% in the fourth quarter. Profund Advisors LLC now owns 4,723 shares of the medical device company’s stock worth $248,000 after acquiring an additional 236 shares in the last quarter. NorthCrest Asset Manangement LLC acquired a new stake in NuVasive in the fourth quarter worth about $291,000. Finally, Gotham Asset Management LLC acquired a new stake in NuVasive in the fourth quarter worth about $357,000.
Shares of NUVA stock opened at $53.49 on Monday. The stock has a 50 day moving average of $50.75 and a 200 day moving average of $52.74. The company has a current ratio of 1.17, a quick ratio of 0.70 and a debt-to-equity ratio of 0.54. The stock has a market cap of $2.78 billion, a P/E ratio of -66.86, a P/E/G ratio of 2.13 and a beta of 1.14. NuVasive, Inc. has a twelve month low of $45.45 and a twelve month high of $64.43.
NUVA has been the subject of several recent analyst reports. Truist Financial lowered their price target on NuVasive to $63.00 in a report on Friday, July 22nd. Morgan Stanley decreased their target price on NuVasive from $62.00 to $54.00 and set an “equal weight” rating for the company in a report on Friday, July 15th. Piper Sandler decreased their target price on NuVasive from $80.00 to $60.00 and set an “overweight” rating for the company in a report on Thursday, August 4th. Finally, Canaccord Genuity Group lifted their target price on NuVasive from $50.00 to $55.00 in a report on Friday, August 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $61.75.
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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