NuVasive, Inc. (NUVA) Shares Sold by Intrust Bank NA
Intrust Bank NA reduced its stake in NuVasive, Inc. (NASDAQ:NUVA) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,137 shares of the medical device company’s stock after selling 150 shares during the period. Intrust Bank NA’s holdings in NuVasive were worth $241,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the company. Westside Investment Management Inc. acquired a new stake in NuVasive during the first quarter valued at $109,000. FNY Partners Fund LP acquired a new stake in NuVasive during the first quarter valued at $112,000. Neuburgh Advisers LLC boosted its stake in NuVasive by 18.3% in the first quarter. Neuburgh Advisers LLC now owns 1,552 shares of the medical device company’s stock valued at $116,000 after buying an additional 240 shares during the period. Glen Harbor Capital Management LLC boosted its stake in 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 valued at $159,000 after buying an additional 330 shares during the period. Finally, US Bancorp DE boosted its stake in NuVasive by 1.7% in the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock valued at $180,000 after buying an additional 41 shares during the period.
NuVasive, Inc. (NASDAQ NUVA) opened at 61.68 on Thursday. NuVasive, Inc. has a 52 week low of $56.70 and a 52 week high of $81.68. The stock has a market cap of $3.13 billion, a PE ratio of 97.13 and a beta of 1.06. The firm’s 50-day moving average price is $70.61 and its 200-day moving average price is $73.61.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million during the quarter, compared to the consensus estimate of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 earnings per share. Equities analysts predict that NuVasive, Inc. will post $2.00 earnings per share for the current fiscal year.
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Several equities research analysts have weighed in on the company. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 price objective on shares of NuVasive in a report on Monday, August 21st. Gabelli reiterated a “buy” rating on shares of NuVasive in a report on Monday, July 31st. Piper Jaffray Companies reiterated an “overweight” rating and issued a $90.00 price objective on shares of NuVasive in a report on Wednesday, August 9th. BidaskClub cut NuVasive from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of NuVasive in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $81.18.
In other NuVasive news, EVP Peter Michael Leddy purchased 7,850 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was acquired at an average price of $63.88 per share, for a total transaction of $501,458.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory T. Lucier bought 2,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average price of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 14,850 shares of company stock valued at $955,598. Insiders own 1.20% 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.
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