Mitra Capital buys $5,668,191 stake in NuVasive (NUVA)

NuVasive (NUVA) : Mitra Capital scooped up 63,049 additional shares in NuVasive during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 90,100 shares of NuVasive which is valued at $5,668,191.NuVasive makes up approximately 8.88% of Mitra Capital’s portfolio.

Other Hedge Funds, Including , Geode Capital Management reduced its stake in NUVA by selling 21,307 shares or 5.89% in the most recent quarter. The Hedge Fund company now holds 340,503 shares of NUVA which is valued at $21,421,044. NuVasive makes up approx 0.01% of Geode Capital Management’s portfolio.Blackrock Investment Management boosted its stake in NUVA in the latest quarter, The investment management firm added 19,910 additional shares and now holds a total of 231,338 shares of NuVasive which is valued at $14,553,474. NuVasive makes up approx 0.02% of Blackrock Investment Management’s portfolio.Gsa Capital Partners Llp boosted its stake in NUVA in the latest quarter, The investment management firm added 21,600 additional shares and now holds a total of 29,280 shares of NuVasive which is valued at $1,837,320. NuVasive makes up approx 0.10% of Gsa Capital Partners Llp’s portfolio.Strs Ohio boosted its stake in NUVA in the latest quarter, The investment management firm added 2,200 additional shares and now holds a total of 6,900 shares of NuVasive which is valued at $418,485.Diversified Trust Co boosted its stake in NUVA in the latest quarter, The investment management firm added 1,600 additional shares and now holds a total of 6,200 shares of NuVasive which is valued at $376,030. NuVasive makes up approx 0.05% of Diversified Trust Co’s portfolio.

NuVasive opened for trading at $64.07 and hit $64.88 on the upside on Monday, eventually ending the session at $64.81, with a gain of 1.15% or 0.74 points. The heightened volatility saw the trading volume jump to 3,23,825 shares. Company has a market cap of $3,254 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 .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 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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