Rice Hall James & Associates LLC increased its stake in NuVasive, Inc. (NASDAQ:NUVA) by 11.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 245,519 shares of the medical device company’s stock after buying an additional 24,340 shares during the quarter. Rice Hall James & Associates LLC’s holdings in NuVasive were worth $14,373,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Royce & Associates LP grew its position in NuVasive by 35.1% during the first quarter. Royce & Associates LP now owns 678 shares of the medical device company’s stock worth $39,000 after buying an additional 176 shares in the last quarter. Westside Investment Management Inc. purchased a new position in NuVasive during the second quarter worth about $87,000. Knott David M purchased a new position in NuVasive during the first quarter worth about $114,000. Rockefeller Capital Management L.P. boosted its holdings in shares of NuVasive by 251.2% in the 1st quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock worth $114,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Zions Bancorporation N.A. purchased a new position in shares of NuVasive in the 1st quarter worth about $175,000.

Shares of NASDAQ NUVA traded down $0.56 during midday trading on Thursday, reaching $63.07. The company had a trading volume of 2,568 shares, compared to its average volume of 470,353. NuVasive, Inc. has a one year low of $43.51 and a one year high of $72.41. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.99 and a current ratio of 3.60. The company’s fifty day simple moving average is $60.14. The company has a market cap of $3.40 billion, a PE ratio of 28.30, a PEG ratio of 2.21 and a beta of 1.14.

NuVasive (NASDAQ:NUVA) last released its earnings results on Tuesday, July 30th. The medical device company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.07. NuVasive had a return on equity of 15.09% and a net margin of 4.65%. The company had revenue of $292.11 million during the quarter, compared to analyst estimates of $290.59 million. During the same quarter in the previous year, the company posted $0.58 EPS. NuVasive’s revenue for the quarter was up 3.7% on a year-over-year basis. As a group, research analysts anticipate that NuVasive, Inc. will post 2.32 earnings per share for the current fiscal year.

A number of equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of NuVasive in a report on Thursday, August 8th. Piper Jaffray Companies set a $72.00 price objective on NuVasive and gave the stock a “buy” rating in a report on Wednesday, July 31st. BTIG Research set a $71.00 price objective on NuVasive and gave the stock a “buy” rating in a report on Friday, August 9th. Robert W. Baird cut NuVasive from an “outperform” rating to a “neutral” rating and set a $66.00 price objective for the company. in a report on Monday, July 29th. Finally, BMO Capital Markets upped their price objective on NuVasive from $54.00 to $68.00 and gave the stock a “market perform” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $66.21.

About NuVasive

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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