NuVasive (NUVA) : Eos Focused Equity Management reduced its stake in NuVasive by 5.6% during the most recent quarter end. The investment management company now holds a total of 145,953 shares of NuVasive which is valued at $9,110,386 after selling 8,662 shares in NuVasive , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.NuVasive makes up approximately 9.24% of Eos Focused Equity Management’s portfolio.
Other Hedge Funds, Including , Tci Wealth Advisors added NUVA to its portfolio by purchasing 58 company shares during the most recent quarter which is valued at $3,620. Quantitative Investment Management added NUVA to its portfolio by purchasing 11,200 company shares during the most recent quarter which is valued at $702,912. NuVasive makes up approx 0.03% of Quantitative Investment Management’s portfolio. Daiwa Securities Group sold out all of its stake in NUVA during the most recent quarter. The investment firm sold 38,000 shares of NUVA which is valued $2,304,700.
NuVasive closed down -0.5 points or -0.79% at $62.8 with 2,22,636 shares getting traded on Wednesday. Post opening the session at $63.41, the shares hit an intraday low of $62.55 and an intraday high of $63.89 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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 .Company shares were Upgraded by JP Morgan on Jul 13, 2016 to ” Overweight”, Firm has raised the Price Target to $ 74 from a previous price target of $55 .Company shares were Upgraded by Barclays on May 27, 2016 to ” Overweight”, Firm has raised the Price Target to $ 63 from a previous price target of $58 .
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 Companys 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.