Eagle Asset Management Inc buys $83,195,491 stake in NuVasive (NUVA)

NuVasive (NUVA) : Eagle Asset Management Inc scooped up 274,587 additional shares in NuVasive during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 1,255,781 shares of NuVasive which is valued at $83,195,491.NuVasive makes up approximately 0.57% of Eagle Asset Management Inc’s portfolio.

Other Hedge Funds, Including , Cutler Group Lp reduced its stake in NUVA by selling 1,473 shares or 14.0% in the most recent quarter. The Hedge Fund company now holds 9,051 shares of NUVA which is valued at $618,907. NuVasive makes up approx 0.04% of Cutler Group Lp’s portfolio.Fisher Asset Management boosted its stake in NUVA in the latest quarter, The investment management firm added 9,724 additional shares and now holds a total of 1,422,585 shares of NuVasive which is valued at $97,276,362. NuVasive makes up approx 0.18% of Fisher Asset Management’s portfolio.Simplex Trading reduced its stake in NUVA by selling 1,848 shares or 79.45% in the most recent quarter. The Hedge Fund company now holds 478 shares of NUVA which is valued at $32,126.Independent Portfolio Consultants reduced its stake in NUVA by selling 360 shares or 27.91% in the most recent quarter. The Hedge Fund company now holds 930 shares of NUVA which is valued at $61,892. NuVasive makes up approx 0.02% of Independent Portfolio Consultants’s portfolio.

NuVasive closed down -2.13 points or -3.11% at $66.25 with 8,54,788 shares getting traded on Tuesday. Post opening the session at $67.95, the shares hit an intraday low of $65.53 and an intraday high of $67.95 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, NuVasive reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.27. The company had revenue of $215.10 million for the quarter, compared to analysts expectations of $205.44 million. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.

Many Wall Street Analysts have commented on NuVasive. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 71 from a previous price target of $63 .

Nuvasive Inc. is a global medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. Its marketed product portfolio is focused on applications for spine fusion surgery. Its product offering includes a minimally-disruptive surgical platform called Maximum Access Surgery (MAS). The MAS platform combines three categories of solutions that collectively minimize soft tissue disruption during spine fusion surgery provide visualization and are designed to enable reproducible outcomes for the surgeon and the patient. The platform includes the Company’s software-driven nerve detection and avoidance systems including NVM5 and NVJJB Intra-Operative Monitoring (IOM) services and support; MaXcess which is an integrated split-blade retractor system and a variety of implants and biologics.

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