Nationwide Fund Advisors Sells 26,729 Shares of NuVasive Inc. (NUVA)
Nationwide Fund Advisors decreased its position in NuVasive Inc. (NASDAQ:NUVA) by 15.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,418 shares of the medical device company’s stock after selling 26,729 shares during the period. Nationwide Fund Advisors owned approximately 0.29% of NuVasive worth $8,804,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Fortaleza Asset Management Inc. bought a new stake in NuVasive during the second quarter worth $115,000. LS Investment Advisors LLC raised its stake in NuVasive by 7.8% in the second quarter. LS Investment Advisors LLC now owns 2,097 shares of the medical device company’s stock worth $125,000 after buying an additional 151 shares in the last quarter. Seven Eight Capital LLC bought a new stake in NuVasive during the first quarter worth $117,000. Smith Asset Management Group LP raised its stake in NuVasive by 7,796.8% in the second quarter. Smith Asset Management Group LP now owns 2,448 shares of the medical device company’s stock worth $146,000 after buying an additional 2,417 shares in the last quarter. Finally, Springbok Capital Management LLC raised its stake in NuVasive by 50.0% in the first quarter. Springbok Capital Management LLC now owns 4,500 shares of the medical device company’s stock worth $219,000 after buying an additional 1,500 shares in the last quarter.
NuVasive Inc. (NASDAQ:NUVA) traded up 0.30% during trading on Tuesday, reaching $66.73. 193,651 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $64.31 and a 200 day moving average price of $56.60. The stock has a market capitalization of $3.35 billion, a P/E ratio of 69.22 and a beta of 0.86. NuVasive Inc. has a 1-year low of $36.81 and a 1-year high of $68.55.
NuVasive (NASDAQ:NUVA) last posted its earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The business had revenue of $236.50 million for the quarter, compared to analyst estimates of $232.86 million. NuVasive had a net margin of 5.28% and a return on equity of 10.57%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.31 EPS. Equities research analysts expect that NuVasive Inc. will post $1.65 earnings per share for the current year.
A number of analysts have recently weighed in on the company. Zacks Investment Research lowered NuVasive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Brean Capital upped their price objective on NuVasive from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Morgan Stanley reissued a “hold” rating and issued a $57.00 target price on shares of NuVasive in a report on Tuesday, June 7th. Jefferies Group increased their target price on NuVasive from $63.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reissued an “overweight” rating and issued a $70.00 target price on shares of NuVasive in a report on Thursday, September 1st. Three analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $65.31.
In related news, EVP Jason Hannon sold 2,625 shares of NuVasive stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $64.80, for a total transaction of $170,100.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Lesley H. Howe sold 3,602 shares of NuVasive stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $62.44, for a total transaction of $224,908.88. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
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