Tiger Legatus Capital Management adds NuVasive (NUVA) to its portfolio

NuVasive (NUVA) : Tiger Legatus Capital Management added new position in NuVasive during the most recent quarter end. The investment management firm now holds 200,000 shares of NuVasive which is valued at $12,582,000 , the company said in a statement filed on Aug 15, 2016 with the SEC.NuVasive makes up approximately 3.46% of Tiger Legatus Capital Management’s portfolio.

Other Hedge Funds, Including , Arrowgrass Capital Partners (us) Lp boosted its stake in NUVA in the latest quarter, The investment management firm added 154,120 additional shares and now holds a total of 263,120 shares of NuVasive which is valued at $16,552,879. NuVasive makes up approx 0.40% of Arrowgrass Capital Partners (us) Lp’s portfolio. Engineers Gate Manager Lp added NUVA to its portfolio by purchasing 50,569 company shares during the most recent quarter which is valued at $3,181,296. NuVasive makes up approx 0.22% of Engineers Gate Manager Lp’s portfolio.Texas Permanent School Fund reduced its stake in NUVA by selling 1,526 shares or 3.85% in the most recent quarter. The Hedge Fund company now holds 38,103 shares of NUVA which is valued at $2,397,060. NuVasive makes up approx 0.03% of Texas Permanent School Fund’s portfolio.Fuller Thaler Asset Management reduced its stake in NUVA by selling 1,100 shares or 0.85% in the most recent quarter. The Hedge Fund company now holds 128,880 shares of NUVA which is valued at $8,087,220. NuVasive makes up approx 0.13% of Fuller Thaler Asset Management’s portfolio. Hood River Capital Management added NUVA to its portfolio by purchasing 423,759 company shares during the most recent quarter which is valued at $26,357,810. NuVasive makes up approx 3.19% of Hood River Capital Management’s portfolio.

NuVasive opened for trading at $65.47 and hit $66.08 on the upside on Thursday, eventually ending the session at $66.06, with a gain of 0.90% or 0.59 points. The heightened volatility saw the trading volume jump to 7,41,962 shares. Company has a market cap of $3,317 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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