Engineers Gate Manager LP bought a new stake in NuVasive, Inc. (NASDAQ:NUVA) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 53,912 shares of the medical device company’s stock, valued at approximately $2,990,000. Engineers Gate Manager LP owned about 0.11% of NuVasive at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its position in shares of 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 acquiring an additional 1,086 shares during the last quarter. Aperio Group LLC raised its position in shares of NuVasive by 7.2% during the second quarter. Aperio Group LLC now owns 11,197 shares of the medical device company’s stock worth $861,000 after acquiring an additional 750 shares during the last quarter. Strs Ohio raised its position in shares of NuVasive by 4.2% during the second quarter. Strs Ohio now owns 7,500 shares of the medical device company’s stock worth $576,000 after acquiring an additional 300 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of NuVasive by 2.2% during the second quarter. Great West Life Assurance Co. Can now owns 31,388 shares of the medical device company’s stock worth $2,412,000 after acquiring an additional 689 shares during the last quarter. Finally, World Asset Management Inc raised its position in shares of NuVasive by 2.7% during the second quarter. World Asset Management Inc now owns 3,201 shares of the medical device company’s stock worth $246,000 after acquiring an additional 84 shares during the last quarter.

Shares of NuVasive, Inc. (NUVA) opened at $58.65 on Thursday. The company has a quick ratio of 1.51, a current ratio of 2.85 and a debt-to-equity ratio of 0.76. NuVasive, Inc. has a one year low of $49.25 and a one year high of $81.68. The company has a market capitalization of $2,978.57, a P/E ratio of 30.92, a price-to-earnings-growth ratio of 2.08 and a beta of 0.77.

NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $255.70 million. During the same quarter last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. equities research analysts expect that NuVasive, Inc. will post 1.91 EPS for the current fiscal year.

NuVasive announced that its Board of Directors has approved a share buyback plan on Tuesday, October 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the medical device company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

A number of equities analysts have recently issued reports on the company. Needham & Company LLC restated a “sell” rating on shares of NuVasive in a research report on Friday, October 6th. Cowen reiterated an “outperform” rating and issued a $83.00 target price on shares of NuVasive in a report on Monday, September 18th. Royal Bank Of Canada reiterated a “buy” rating and issued a $75.00 target price on shares of NuVasive in a report on Tuesday, October 10th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $90.00 target price on shares of NuVasive in a report on Wednesday, August 9th. Finally, BTIG Research began coverage on NuVasive in a report on Thursday, September 7th. They issued a “buy” rating and a $82.00 target price for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $72.36.

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About NuVasive

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.

Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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