Crossmark Global Holdings Inc. Invests $427,000 in NuVasive, Inc. (NUVA)
Crossmark Global Holdings Inc. purchased a new position in NuVasive, Inc. (NASDAQ:NUVA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 7,699 shares of the medical device company’s stock, valued at approximately $427,000.
Several other large investors also recently modified their holdings of NUVA. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in NuVasive by 9.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares during the last quarter. Howard Hughes Medical Institute lifted its holdings in NuVasive by 82.8% during the second quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after purchasing an additional 936 shares during the last quarter. Honkamp Krueger Financial Services Inc. purchased a new stake in NuVasive during the second quarter valued at about $201,000. Shelton Capital Management purchased a new stake in NuVasive during the second quarter valued at about $221,000. Finally, Verition Fund Management LLC purchased a new stake in NuVasive during the second quarter valued at about $233,000.
Several equities research analysts have commented on the stock. Royal Bank Of Canada reaffirmed a “buy” rating and set a $85.00 price objective on shares of NuVasive in a report on Monday, August 21st. Robert W. Baird downgraded shares of NuVasive from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $79.00 to $72.00 in a report on Friday, July 28th. Cowen and Company reaffirmed an “outperform” rating and set a $83.00 price objective (down from $90.00) on shares of NuVasive in a report on Sunday, July 30th. Jefferies Group LLC reaffirmed a “buy” rating and set a $79.00 price objective on shares of NuVasive in a report on Sunday, July 30th. Finally, Gabelli reaffirmed a “buy” rating on shares of NuVasive in a report on Thursday, September 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $72.33.
In related news, CEO Gregory T. Lucier acquired 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $61.52 per share, for a total transaction of $123,040.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by corporate insiders.
NuVasive, Inc. (NUVA) opened at $56.35 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. The firm has a market cap of $2,852.17, a P/E ratio of 29.61, a P/E/G ratio of 1.99 and a beta of 0.78. NuVasive, Inc. has a 52-week low of $49.25 and a 52-week high of $81.68.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.04. The company had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $255.70 million. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. NuVasive’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 earnings per share. analysts anticipate that NuVasive, Inc. will post 1.91 EPS for the current year.
NuVasive declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the medical device company to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are 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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