NuVasive, Inc. (NASDAQ:NUVA) Position Increased by Smith Asset Management Group LP
Smith Asset Management Group LP raised its position in shares of NuVasive, Inc. (NASDAQ:NUVA) by 19.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,875 shares of the medical device company’s stock after buying an additional 960 shares during the period. Smith Asset Management Group LP’s holdings in NuVasive were worth $452,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in the stock. Westside Investment Management Inc. acquired a new position in shares of NuVasive during the first quarter worth approximately $109,000. FNY Partners Fund LP acquired a new position in shares of NuVasive during the first quarter worth approximately $112,000. Neuburgh Advisers LLC increased its position in shares of NuVasive by 18.3% in the first quarter. Neuburgh Advisers LLC now owns 1,552 shares of the medical device company’s stock worth $116,000 after buying an additional 240 shares in the last quarter. SpiderRock Advisors LLC acquired a new position in shares of NuVasive during the first quarter worth approximately $124,000. Finally, Glen Harbor Capital Management LLC increased its position in shares of NuVasive by 18.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,134 shares of the medical device company’s stock worth $159,000 after buying an additional 330 shares in the last quarter.
Shares of NuVasive, Inc. (NASDAQ NUVA) opened at 66.70 on Tuesday. The company has a 50-day moving average price of $73.47 and a 200 day moving average price of $74.05. The stock has a market capitalization of $3.39 billion, a PE ratio of 105.04 and a beta of 1.06. NuVasive, Inc. has a 52 week low of $56.70 and a 52 week high of $81.68.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million during the quarter, compared to analyst estimates of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. NuVasive’s revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. Equities analysts forecast that NuVasive, Inc. will post $2.00 EPS for the current fiscal year.
A number of equities analysts recently commented on the company. Piper Jaffray Companies restated an “overweight” rating and set a $90.00 target price on shares of NuVasive in a report on Wednesday, August 9th. Gabelli restated a “buy” rating on shares of NuVasive in a report on Monday, July 31st. BidaskClub downgraded NuVasive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Needham & Company LLC restated a “hold” rating on shares of NuVasive in a report on Friday, July 28th. Finally, Barclays PLC restated a “buy” rating and set a $80.00 target price on shares of NuVasive in a report on Wednesday, August 2nd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. NuVasive has an average rating of “Buy” and a consensus target price of $81.18.
In other news, EVP Peter Michael Leddy bought 7,850 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average cost of $63.88 per share, with a total value of $501,458.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 4.70% of the company’s stock.
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.
Want to see what other hedge funds are holding NUVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NuVasive, Inc. (NASDAQ:NUVA).
Receive News & Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.