First Trust Advisors LP Invests $400,000 in NuVasive, Inc. (NASDAQ:NUVA)

First Trust Advisors LP bought a new stake in shares of NuVasive, Inc. (NASDAQ:NUVA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 6,311 shares of the medical device company’s stock, valued at approximately $400,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Mercantile Trust Co. grew its holdings in shares of NuVasive by 11.6% during the 3rd quarter. First Mercantile Trust Co. now owns 1,430 shares of the medical device company’s stock worth $91,000 after acquiring an additional 149 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of NuVasive by 1.9% during the second quarter. Municipal Employees Retirement System of Michigan now owns 9,550 shares of the medical device company’s stock valued at $559,000 after purchasing an additional 180 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of NuVasive by 0.6% during the third quarter. Texas Permanent School Fund now owns 35,424 shares of the medical device company’s stock valued at $2,245,000 after purchasing an additional 210 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in NuVasive by 0.8% in the third quarter. Envestnet Asset Management Inc. now owns 38,861 shares of the medical device company’s stock worth $2,463,000 after purchasing an additional 326 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in NuVasive in the second quarter worth $28,000. Institutional investors own 98.84% of the company’s stock.

In other NuVasive news, Director Gregory T. Lucier sold 29,469 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $72.99, for a total transaction of $2,150,942.31. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul Mcclintock sold 3,314 shares of NuVasive stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $72.04, for a total transaction of $238,740.56. The disclosure for this sale can be found here. Insiders own 0.97% of the company’s stock.

Shares of NASDAQ:NUVA opened at $73.77 on Friday. The company has a current ratio of 3.68, a quick ratio of 2.08 and a debt-to-equity ratio of 0.79. The stock has a fifty day simple moving average of $70.26 and a two-hundred day simple moving average of $63.72. NuVasive, Inc. has a 12-month low of $43.51 and a 12-month high of $74.10. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 33.08, a PEG ratio of 2.78 and a beta of 1.17.

NuVasive (NASDAQ:NUVA) last released its earnings results on Wednesday, October 30th. The medical device company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. NuVasive had a return on equity of 14.93% and a net margin of 4.15%. The firm had revenue of $290.80 million for the quarter, compared to analysts’ expectations of $283.75 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The company’s quarterly revenue was up 7.2% on a year-over-year basis. As a group, equities research analysts predict that NuVasive, Inc. will post 2.37 EPS for the current year.

NUVA has been the subject of several recent research reports. BMO Capital Markets raised their price objective on NuVasive from $54.00 to $68.00 and gave the company a “market perform” rating in a research report on Friday, August 9th. Royal Bank of Canada upped their target price on shares of NuVasive to $74.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. BidaskClub upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “buy” rating and set a $74.00 price target for the company in a research note on Friday, November 1st. Finally, Cowen set a $75.00 price target on shares of NuVasive and gave the company a “buy” rating in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $67.42.

NuVasive Profile

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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