The Vanguard Group, Inc. recently announced the acquisition of new stake in NuVasive Inc. (NASDAQ:NUVA). The institutional investor has increased its shareholding in the Healthcare company by 2.06% to 5.11 million shares with purchase of 0.1 million shares. This fresh investment now brings its stake to 9.96% valued currently at $284.24 million. In addition, Hartford Investment Management Co. raised its holdings by 2.87 million to 2.87 million shares. And SSgA Funds Management, Inc. has lifted its position by 0.33% or 5735.0 shares – to 1.76 million shares.
With over 0.74 million NuVasive Inc. (NUVA) shares trading Tuesday and a closing price of $57.94 on the day, the dollar volume was approximately $43.16 million. The shares have shown a positive weekly performance of 4.43% and its price on 07/21/20 lost nearly -1.20%. Currently, there are 51.84M common shares owned by the public and among those 50.91M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 18 analysts who have offered their price forecasts for NUVA have a consensus price objective of $66.88. The analysts have set the share’s price value over the next 12 months at a high of $85.00 and a low of $55.00 should the stock experience a downside. Incidentally, analysts’ outlook for the NuVasive Inc. stock is 2.40 for the next 12 months. The average price target is 13.77% above its last price level and an upside to the estimated low will see the stock lose -5.35% over that period. But an upside of 31.84% will see the stock hit the forecast high price target while mean target price for the stock is $65.00.
Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 7 of these insider trades were purchases, accounting for 75,566 shares. Insider sales of the common stock occurred on 13 occasions, with total insider shares sold totaling 78,274 shares.
The top 3 mutual fund holders in NuVasive Inc. are Hartford Mid Cap Fund, Vanguard Total Stock Market Index, and iShares Core S&P Mid Cap ETF. Hartford Mid Cap Fund owns 2.61 million shares of the company’s stock, all valued at over $145.05 million. The company bought an additional 24750.0 shares recently to bring their total holdings to about 5.09% of the shares outstanding. Vanguard Total Stock Market Index sold 45348.0 shares to see its total holdings shrink to 1.45 million shares valued at over $80.98 million and representing 2.84% of the shares outstanding. iShares Core S&P Mid Cap ETF now owns shares totaling to 2.69% of the shares outstanding.
Shares of NuVasive Inc. (NASDAQ: NUVA) opened at $62.11, up $3.47 from a prior closing price of $58.64. However, the script later closed the day at $57.94, down -1.20%. The company’s stock has a 5-day price change of 4.43% and 5.20% over the past three months. NUVA shares are trading -24.18% year to date (YTD), with the 12-month market performance up to 0.15% higher. It has a 12-month low price of $28.55 and touched a high of $81.91 over the same period. Currently, 0.74 million shares have been traded, compared to an average intraday trading volume of 908.17K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 3.48%, -1.40%, and -10.35% respectively.
Institutional ownership of NuVasive Inc. (NASDAQ: NUVA) 51.84M shares outstanding. Mutual fund holders own 50.63%, while other institutional holders and individual stakeholders account for 60.93% and 15.45% respectively.
It has a market capitalization of $2.87B and a beta (3y monthly) value of 1.37. The stock’s trailing 12-month PE ratio is 51.53, while the earnings-per-share (ttm) stands at $1.14. The company has a PEG of 5.92 and a Quick Ratio of 0.90 with the debt-to-equity ratio at 1.12. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.64% over the week and 5.02% over the month.
Analysts forecast that NuVasive Inc. (NUVA) will achieve an EPS of -$0.55 for the current quarter, $0.15 for the next quarter and $2.45 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.03 while analysts give the company a high EPS estimate of -$0.06. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 414.80%, and 222.96% over the next financial year. EPS should shrink at an annualized rate of 8.71% over the next five years, compared to 40.30% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate NuVasive Inc. (NUVA) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 7 of the 18 advise that investors “hold,” and 1 rated it as a “Sell.”
Looking at the support for the NUVA, a number of firms have released research notes about the stock. Northland Capital stated their Market Perform rating for the stock in a research note on June 25, 2020, with the firm’s price target at $65. Needham coverage for the NuVasive Inc. (NUVA) stock in a research note released on June 23, 2020 offered a Buy rating with a price target of. Robert W. Baird was of a view on April 08, 2020 that the stock is Outperform, while Citigroup gave the stock Neutral rating on March 05, 2020, issuing a price target of $68. SunTrust on their part issued Buy rating on January 08, 2020.