Bank of New York Mellon Corp boosted its position in shares of NuVasive, Inc. (NASDAQ:NUVA) by 1.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 681,858 shares of the medical device company’s stock after acquiring an additional 6,913 shares during the period. Bank of New York Mellon Corp owned 1.34% of NuVasive worth $39,881,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zions Bancorporation purchased a new stake in NuVasive during the 3rd quarter valued at approximately $160,000. Icon Advisers Inc. Co. purchased a new stake in NuVasive during the 3rd quarter valued at approximately $360,000. ING Groep NV grew its holdings in NuVasive by 23.6% during the 4th quarter. ING Groep NV now owns 7,691 shares of the medical device company’s stock valued at $450,000 after buying an additional 1,469 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new stake in NuVasive during the 3rd quarter valued at approximately $427,000. Finally, GSA Capital Partners LLP grew its holdings in NuVasive by 176.5% during the 3rd quarter. GSA Capital Partners LLP now owns 9,403 shares of the medical device company’s stock valued at $521,000 after buying an additional 6,002 shares in the last quarter.
NuVasive, Inc. (NUVA) opened at $50.66 on Tuesday. NuVasive, Inc. has a fifty-two week low of $44.62 and a fifty-two week high of $81.68. The company has a debt-to-equity ratio of 0.73, a current ratio of 3.48 and a quick ratio of 1.94. The firm has a market cap of $2,659.70, a price-to-earnings ratio of 32.90, a P/E/G ratio of 1.33 and a beta of 0.50.
A number of equities research analysts have issued reports on NUVA shares. Leerink Swann lowered shares of NuVasive from an “outperform” rating to a “market perform” rating in a report on Thursday, February 1st. Canaccord Genuity cut their price objective on shares of NuVasive from $81.00 to $73.00 and set a “buy” rating for the company in a report on Tuesday, February 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $55.00 price objective (down from $67.00) on shares of NuVasive in a report on Tuesday, February 27th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price objective on shares of NuVasive in a report on Tuesday, January 9th. Finally, Wells Fargo & Co lowered shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 target price for the company. in a report 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. The company currently has a consensus rating of “Buy” and a consensus target price of $68.19.
In other news, CEO Gregory T. Lucier acquired 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, with a total value of $301,800.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by insiders.
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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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