American Century Companies Inc. Has $54.73 Million Holdings in NuVasive, Inc. (NUVA)
American Century Companies Inc. grew its holdings in shares of NuVasive, Inc. (NASDAQ:NUVA) by 6.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 986,812 shares of the medical device company’s stock after buying an additional 62,377 shares during the quarter. American Century Companies Inc. owned approximately 1.94% of NuVasive worth $54,729,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of NUVA. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NuVasive by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock worth $146,000 after buying an additional 158 shares in the last quarter. Howard Hughes Medical Institute lifted its position in NuVasive by 82.8% during the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock worth $159,000 after buying an additional 936 shares in the last quarter. Honkamp Krueger Financial Services Inc. bought a new stake in NuVasive during the 2nd quarter worth about $201,000. Shelton Capital Management bought a new stake in NuVasive during the 2nd quarter worth about $221,000. Finally, Verition Fund Management LLC bought a new stake in NuVasive during the 2nd quarter worth about $233,000.
Several equities research analysts have commented on NUVA shares. Jefferies Group LLC reissued a “buy” rating and set a $79.00 price target on shares of NuVasive in a research report on Sunday, July 30th. Canaccord Genuity reaffirmed a “buy” rating and issued a $80.00 target price on shares of NuVasive in a report on Friday, July 28th. Barclays PLC reaffirmed a “buy” rating and issued a $80.00 target price on shares of NuVasive in a report on Wednesday, August 2nd. Gabelli reaffirmed a “buy” rating on shares of NuVasive in a report on Monday, July 31st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $85.00 target price on shares of NuVasive in a report on Thursday, July 20th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $72.33.
In other news, CEO Gregory T. Lucier purchased 2,000 shares of NuVasive stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average price of $61.52 per share, for a total transaction of $123,040.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Lesley H. Howe sold 3,970 shares of the stock in a transaction that occurred on Friday, August 18th. The stock was sold at an average price of $64.64, for a total transaction of $256,620.80. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
NuVasive, Inc. (NASDAQ:NUVA) opened at $55.32 on Monday. NuVasive, Inc. has a 52-week low of $49.25 and a 52-week high of $81.68. The stock has a market cap of $2,819.55, a P/E ratio of 29.27, a price-to-earnings-growth ratio of 1.97 and a beta of 0.78. The company has a current ratio of 2.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.76.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The business had revenue of $247.40 million for the quarter, compared to analyst estimates of $255.70 million. NuVasive had a net margin of 13.41% and a return on equity of 18.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. sell-side analysts expect that NuVasive, Inc. will post 1.91 earnings per share for the current year.
NuVasive announced that its Board of Directors has authorized a share repurchase plan on Tuesday, October 24th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the medical device company to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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