Empire Life Investments Inc. lifted its holdings in shares of NuVasive, Inc. (NASDAQ:NUVA) by 19.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 90,673 shares of the medical device company’s stock after purchasing an additional 14,806 shares during the quarter. Empire Life Investments Inc. owned about 0.18% of NuVasive worth $5,303,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Zions Bancorporation purchased a new position in NuVasive during the 3rd quarter valued at about $160,000. Baird Financial Group Inc. acquired a new stake in shares of NuVasive during the 4th quarter worth about $205,000. Icon Advisers Inc. Co. acquired a new stake in shares of NuVasive during the 3rd quarter worth about $360,000. ING Groep NV raised its position in shares of NuVasive by 23.6% during the 4th quarter. ING Groep NV now owns 7,691 shares of the medical device company’s stock worth $450,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Crossmark Global Holdings Inc. acquired a new stake in shares of NuVasive during the 3rd quarter worth about $427,000.
Several research analysts have commented on NUVA shares. Wells Fargo & Co lowered NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price target on the stock. in a research report on Wednesday, January 17th. Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. BMO Capital Markets reissued a “buy” rating and issued a $70.00 target price on shares of NuVasive in a report on Thursday, December 14th. BidaskClub lowered NuVasive from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th. Finally, Piper Jaffray Companies reissued a “buy” rating and issued a $90.00 target price on shares of NuVasive in a report on Tuesday, January 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $68.19.
NuVasive (NASDAQ:NUVA) last released its earnings results on Monday, February 26th. The medical device company reported $0.56 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.56. The firm had revenue of $271.70 million during the quarter, compared to analyst estimates of $272.11 million. NuVasive had a return on equity of 13.40% and a net margin of 8.06%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 earnings per share. equities research analysts anticipate that NuVasive, Inc. will post 2.46 EPS for the current year.
In other news, CEO Gregory T. Lucier purchased 6,000 shares of the company’s stock in a transaction on Tuesday, March 6th. The stock was bought at an average cost of $50.30 per share, for a total transaction of $301,800.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
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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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