NuVasive, Inc. (NASDAQ:NUVA) Shares Sold by Sector Gamma AS

Sector Gamma AS reduced its position in shares of NuVasive, Inc. (NASDAQ:NUVA) by 6.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 468,258 shares of the medical device company’s stock after selling 31,096 shares during the period. NuVasive accounts for about 5.0% of Sector Gamma AS’s holdings, making the stock its 6th biggest holding. Sector Gamma AS owned approximately 0.90% of NuVasive worth $29,678,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NUVA. Point72 Hong Kong Ltd acquired a new stake in shares of NuVasive during the second quarter valued at about $28,000. Acadian Asset Management LLC purchased a new position in shares of NuVasive in the second quarter valued at approximately $45,000. Tower Research Capital LLC TRC boosted its stake in shares of NuVasive by 322.9% in the second quarter. Tower Research Capital LLC TRC now owns 888 shares of the medical device company’s stock valued at $52,000 after purchasing an additional 678 shares during the period. Westside Investment Management Inc. purchased a new position in shares of NuVasive in the second quarter valued at approximately $87,000. Finally, First Mercantile Trust Co. boosted its stake in shares of NuVasive by 11.6% in the third quarter. First Mercantile Trust Co. now owns 1,430 shares of the medical device company’s stock valued at $91,000 after purchasing an additional 149 shares during the period. Hedge funds and other institutional investors own 99.91% of the company’s stock.

Shares of NuVasive stock traded up $0.66 during trading on Friday, reaching $72.19. The company’s stock had a trading volume of 306,400 shares, compared to its average volume of 558,315. NuVasive, Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $73.00. The company has a current ratio of 3.68, a quick ratio of 2.08 and a debt-to-equity ratio of 0.79. The company has a 50-day moving average price of $66.10 and a two-hundred day moving average price of $62.20. The firm has a market cap of $3.69 billion, a PE ratio of 32.37, a P/E/G ratio of 2.73 and a beta of 1.18.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Wednesday, October 30th. The medical device company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.53 by $0.06. NuVasive had a net margin of 4.15% and a return on equity of 14.93%. The business had revenue of $290.80 million for the quarter, compared to analyst estimates of $283.75 million. During the same period in the previous year, the firm earned $0.56 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, analysts predict that NuVasive, Inc. will post 2.37 earnings per share for the current fiscal year.

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Several research analysts have recently commented on NUVA shares. BTIG Research set a $71.00 price objective on shares of NuVasive and gave the company a “buy” rating in a research note on Friday, August 9th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Friday, November 1st. UBS Group lifted their price target on shares of NuVasive from $51.00 to $55.00 and gave the stock a “sell” rating in a research note on Monday, September 9th. Needham & Company LLC reiterated a “hold” rating on shares of NuVasive in a research note on Thursday, August 8th. Finally, TheStreet upgraded shares of NuVasive from a “c+” rating to a “b” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $67.42.

NuVasive Profile

NuVasive, Inc, a medical device company, develops and markets minimally disruptive surgical products and procedurally integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal products include Maximum Access Surgery, a minimally disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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