First Mercantile Trust Co Lowers stake in NuVasive (NUVA)

NuVasive (NUVA) : First Mercantile Trust Co reduced its stake in NuVasive by 13.39% during the most recent quarter end. The investment management company now holds a total of 12,126 shares of NuVasive which is valued at $814,988 after selling 1,874 shares in NuVasive , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.NuVasive makes up approximately 0.11% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , 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.Bnp Paribas Arbitrage Sa reduced its stake in NUVA by selling 35,199 shares or 78.07% in the most recent quarter. The Hedge Fund company now holds 9,885 shares of NUVA which is valued at $657,847.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 opened for trading at $67.18 and hit $67.34 on the upside on Friday, eventually ending the session at $67.21, with a gain of 0.22% or 0.15 points. The heightened volatility saw the trading volume jump to 3,19,383 shares. Company has a market cap of $3,375 M.

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 .

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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