MetLife Investment Management LLC Has $2.63 Million Stake in NuVasive, Inc. (NASDAQ:NUVA)

Posted by on Feb 26th, 2023

MetLife Investment Management LLC grew its holdings in NuVasive, Inc. (NASDAQ:NUVA – Get Rating) by 0.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,996 shares of the medical device company’s stock after buying an additional 377 shares during the period. MetLife Investment Management LLC owned 0.12% of NuVasive worth $2,628,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd lifted its holdings in NuVasive by 28.3% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,347 shares of the medical device company’s stock worth $76,000 after purchasing an additional 297 shares during the last quarter. Pacer Advisors Inc. acquired a new stake in NuVasive during the 3rd quarter worth approximately $105,000. Captrust Financial Advisors lifted its holdings in NuVasive by 85.7% during the 1st quarter. Captrust Financial Advisors now owns 2,108 shares of the medical device company’s stock worth $120,000 after purchasing an additional 973 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in NuVasive by 76.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,175 shares of the medical device company’s stock worth $123,000 after purchasing an additional 942 shares during the last quarter. Finally, Strs Ohio lifted its holdings in NuVasive by 106.7% during the 3rd quarter. Strs Ohio now owns 3,100 shares of the medical device company’s stock worth $135,000 after purchasing an additional 1,600 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company cut NuVasive from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $47.00 to $57.72 in a report on Friday, February 10th. StockNews.com cut NuVasive from a “buy” rating to a “hold” rating in a report on Tuesday, February 14th. Truist Financial cut NuVasive from a “buy” rating to a “hold” rating and lifted their price objective for the company from $51.00 to $52.50 in a report on Friday, February 10th. JPMorgan Chase & Co. lifted their price objective on NuVasive from $38.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Cowen dropped their price objective on NuVasive from $65.00 to $50.00 in a report on Thursday, November 10th. Ten analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, NuVasive has a consensus rating of “Hold” and an average price target of $50.77.

NuVasive Trading Down 1.0 %

Shares of NUVA opened at $43.30 on Friday. NuVasive, Inc. has a 52-week low of $35.17 and a 52-week high of $60.47. The business’s fifty day moving average is $43.64 and its 200-day moving average is $43.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.72 and a current ratio of 1.21. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 60.99, a PEG ratio of 1.01 and a beta of 1.04.

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

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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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