Eversept Partners LP Sells 238,803 Shares of NuVasive, Inc. (NASDAQ:NUVA)

Eversept Partners LP trimmed its position in shares of NuVasive, Inc. (NASDAQ:NUVA) by 72.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 91,798 shares of the medical device company’s stock after selling 238,803 shares during the quarter. NuVasive accounts for approximately 1.5% of Eversept Partners LP’s investment portfolio, making the stock its 18th largest holding. Eversept Partners LP’s holdings in NuVasive were worth $5,374,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Tower Research Capital LLC TRC grew its stake in NuVasive by 322.9% during the second quarter. Tower Research Capital LLC TRC now owns 888 shares of the medical device company’s stock worth $52,000 after buying an additional 678 shares during the last quarter. Parametric Portfolio Associates LLC grew its stake in NuVasive by 0.9% during the second quarter. Parametric Portfolio Associates LLC now owns 70,814 shares of the medical device company’s stock worth $4,145,000 after buying an additional 616 shares during the last quarter. Natixis bought a new stake in NuVasive during the second quarter worth about $1,427,000. Northern Trust Corp grew its stake in NuVasive by 1.2% during the second quarter. Northern Trust Corp now owns 839,985 shares of the medical device company’s stock worth $49,172,000 after buying an additional 9,932 shares during the last quarter. Finally, Nicholas Company Inc. grew its stake in NuVasive by 8.0% during the second quarter. Nicholas Company Inc. now owns 274,250 shares of the medical device company’s stock worth $16,055,000 after buying an additional 20,335 shares during the last quarter. 98.87% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NUVA stock traded down $0.45 during trading hours on Friday, reaching $65.30. 1,266 shares of the company were exchanged, compared to its average volume of 423,370. NuVasive, Inc. has a fifty-two week low of $43.51 and a fifty-two week high of $72.41. The stock’s fifty day moving average is $63.62 and its two-hundred day moving average is $59.58. The company has a market cap of $3.42 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.16 and a beta of 1.20. The company has a debt-to-equity ratio of 0.79, a current ratio of 3.60 and a quick ratio of 1.99.



NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Tuesday, July 30th. The medical device company reported $0.63 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.07. NuVasive had a net margin of 4.65% and a return on equity of 15.09%. The business had revenue of $292.11 million for the quarter, compared to analyst estimates of $290.59 million. During the same period in the prior year, the business posted $0.58 earnings per share. NuVasive’s revenue was up 3.7% compared to the same quarter last year. On average, research analysts anticipate that NuVasive, Inc. will post 2.32 earnings per share for the current year.

Several analysts have weighed in on NUVA shares. ValuEngine cut shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th. Robert W. Baird cut shares of NuVasive from an “outperform” rating to a “neutral” rating and set a $66.00 price objective on the stock. in a research note on Monday, July 29th. Morgan Stanley upped their price objective on shares of NuVasive from $57.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Zacks Investment Research upgraded shares of NuVasive from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Wednesday, July 10th. Finally, BMO Capital Markets upped their target price on shares of NuVasive from $54.00 to $68.00 and gave the stock a “market perform” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $67.14.

About NuVasive

NuVasive, Inc, a medical device company, develops and markets minimally disruptive surgical products and procedurally integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal products include Maximum Access Surgery, a minimally disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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