Scout Investments Inc. lowered its stake in shares of NuVasive, Inc. (NASDAQ:NUVA) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 166,502 shares of the medical device company’s stock after selling 3,036 shares during the quarter. Scout Investments Inc. owned 326,666.67% of NuVasive worth $9,234,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP grew its holdings in NuVasive by 17.7% during the second quarter. First Trust Advisors LP now owns 36,597 shares of the medical device company’s stock worth $2,815,000 after buying an additional 5,510 shares in the last quarter. Bank of Montreal Can grew its holdings in NuVasive by 23.6% during the second quarter. Bank of Montreal Can now owns 5,680 shares of the medical device company’s stock worth $437,000 after buying an additional 1,086 shares in the last quarter. Vanguard Group Inc. grew its holdings in NuVasive by 1.3% during the second quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after buying an additional 53,769 shares in the last quarter. Teachers Advisors LLC grew its holdings in NuVasive by 205.8% during the first quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock worth $18,636,000 after buying an additional 167,950 shares in the last quarter. Finally, Geneva Advisors LLC grew its holdings in NuVasive by 3.3% during the second quarter. Geneva Advisors LLC now owns 17,369 shares of the medical device company’s stock worth $1,336,000 after buying an additional 555 shares in the last quarter.
NuVasive, Inc. (NASDAQ NUVA) opened at $55.32 on Friday. NuVasive, Inc. has a 1 year low of $49.25 and a 1 year high of $81.68. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.51 and a current ratio of 2.85. The company has a market capitalization of $2,819.55, a price-to-earnings ratio of 29.27, a PEG ratio of 1.97 and a beta of 0.78.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The firm had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $255.70 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. sell-side analysts forecast that NuVasive, Inc. will post 1.91 earnings per share for the current fiscal year.
NuVasive announced that its Board of Directors has initiated a share repurchase program on Tuesday, October 24th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the medical device company to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.
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In other news, CEO Gregory T. Lucier purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were purchased at an average price of $66.22 per share, with a total value of $331,100.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory T. Lucier purchased 2,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The shares were purchased at an average cost of $61.52 per share, for a total transaction of $123,040.00. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.
Several equities research analysts recently issued reports on the company. Royal Bank Of Canada decreased their price target on NuVasive from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday. BMO Capital Markets decreased their price target on NuVasive from $85.00 to $69.00 and set an “outperform” rating for the company in a report on Wednesday, October 25th. BTIG Research set a $74.00 price target on NuVasive and gave the stock a “buy” rating in a report on Wednesday, October 25th. Needham & Company LLC reiterated a “sell” rating on shares of NuVasive in a report on Wednesday, October 25th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $65.00 price target (down previously from $81.00) on shares of NuVasive in a report on Wednesday, October 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. NuVasive currently has a consensus rating of “Buy” and a consensus target price of $72.33.
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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