Tower Research Capital LLC TRC Has $409,000 Stake in NuVasive, Inc. (NASDAQ:NUVA)

Tower Research Capital LLC TRC boosted its stake in NuVasive, Inc. (NASDAQ:NUVA – Get Rating) by 122.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,327 shares of the medical device company’s stock after buying an additional 5,130 shares during the quarter. Tower Research Capital LLC TRC’s holdings in NuVasive were worth $409,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of NUVA. Point72 Hong Kong Ltd raised its position in NuVasive by 28.3% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock valued at $76,000 after purchasing an additional 297 shares during the last quarter. Pacer Advisors Inc. bought a new stake in shares of NuVasive during the third quarter worth $105,000. Captrust Financial Advisors raised its position in shares of NuVasive by 85.7% during the first quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company’s stock worth $120,000 after acquiring an additional 973 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of NuVasive by 76.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,175 shares of the medical device company’s stock worth $123,000 after acquiring an additional 942 shares during the last quarter. Finally, Strs Ohio raised its position in shares of NuVasive by 106.7% during the third quarter. Strs Ohio now owns 3,100 shares of the medical device company’s stock worth $135,000 after acquiring an additional 1,600 shares during the last quarter.

Analysts Set New Price Targets

NUVA has been the subject of a number of recent analyst reports. Cowen dropped their price objective on NuVasive from $65.00 to $50.00 in a report on Thursday, November 10th. TheStreet downgraded NuVasive from a “c-” rating to a “d+” rating in a report on Monday, November 28th. Morgan Stanley upped their price objective on NuVasive from $44.00 to $44.50 and gave the company an “equal weight” rating in a report on Thursday. Piper Sandler downgraded NuVasive from an “overweight” rating to a “neutral” rating in a report on Thursday, February 9th. They noted that the move was a valuation call. Finally, Truist Financial downgraded NuVasive from a “buy” rating to a “hold” rating and upped their price objective for the company from $51.00 to $52.50 in a report on Friday, February 10th. Ten equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $50.77.

NuVasive Price Performance

NASDAQ:NUVA opened at $43.30 on Monday. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 60.99, a P/E/G ratio of 1.01 and a beta of 1.04. The company has a quick ratio of 0.72, a current ratio of 1.21 and a debt-to-equity ratio of 0.51. NuVasive, Inc. has a 12-month low of $35.17 and a 12-month high of $60.47. The stock’s 50 day moving average price is $43.64 and its two-hundred day moving average price is $43.18.

NuVasive (NASDAQ:NUVA – Get Rating) last announced its earnings results on Wednesday, February 22nd. The medical device company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.08). The firm had revenue of $305.45 million for the quarter, compared to the consensus estimate of $311.01 million. NuVasive had a return on equity of 12.45% and a net margin of 3.36%. NuVasive’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, analysts anticipate that NuVasive, Inc. will post 1.92 earnings per share for the current year.

NuVasive Profile

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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.