Broadfin Capital LLC Cuts Holdings in NuVasive, Inc. (NUVA)
Broadfin Capital LLC decreased its position in NuVasive, Inc. (NASDAQ:NUVA) by 6.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 82,100 shares of the medical device company’s stock after selling 5,900 shares during the period. Broadfin Capital LLC’s holdings in NuVasive were worth $4,802,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Champlain Investment Partners LLC lifted its stake in NuVasive by 6.4% in the 4th quarter. Champlain Investment Partners LLC now owns 2,866,247 shares of the medical device company’s stock valued at $167,647,000 after acquiring an additional 171,455 shares in the last quarter. Alyeska Investment Group L.P. lifted its stake in NuVasive by 13.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,559,940 shares of the medical device company’s stock valued at $86,514,000 after acquiring an additional 187,863 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in NuVasive by 0.3% in the 4th quarter. Eagle Asset Management Inc. now owns 1,134,950 shares of the medical device company’s stock valued at $65,542,000 after acquiring an additional 3,585 shares in the last quarter. American Century Companies Inc. raised its stake in shares of NuVasive by 6.7% during the 3rd quarter. American Century Companies Inc. now owns 986,812 shares of the medical device company’s stock worth $54,729,000 after purchasing an additional 62,377 shares in the last quarter. Finally, Carillon Tower Advisers Inc. bought a new stake in shares of NuVasive during the 4th quarter worth approximately $43,226,000.
Shares of NuVasive, Inc. (NASDAQ NUVA) opened at $48.03 on Friday. NuVasive, Inc. has a 12 month low of $44.62 and a 12 month high of $81.68. The company has a quick ratio of 1.51, a current ratio of 3.48 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $2,450.00, a price-to-earnings ratio of 41.41, a P/E/G ratio of 1.31 and a beta of 0.50.
A number of equities research analysts have recently issued reports on NUVA shares. Leerink Swann cut NuVasive from an “outperform” rating to a “market perform” rating in a research note on Thursday, February 1st. Canaccord Genuity dropped their price objective on NuVasive from $81.00 to $73.00 and set a “buy” rating on the stock in a research note on Tuesday. Morgan Stanley reiterated an “equal weight” rating and set a $55.00 price objective (down previously from $67.00) on shares of NuVasive in a research note on Tuesday. Piper Jaffray Companies reiterated a “buy” rating and set a $90.00 price objective on shares of NuVasive in a research note on Tuesday, January 9th. Finally, Wells Fargo & Co cut NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective on the stock. in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $68.19.
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NuVasive Company Profile
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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