Texas Permanent School Fund boosted its position in NuVasive, Inc. (NASDAQ:NUVA) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,989 shares of the medical device company’s stock after buying an additional 355 shares during the period. Texas Permanent School Fund owned about 0.07% of NuVasive worth $2,845,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NUVA. Russell Investments Group Ltd. increased its position in NuVasive by 10.0% in the first quarter. Russell Investments Group Ltd. now owns 93,889 shares of the medical device company’s stock valued at $7,012,000 after buying an additional 8,498 shares during the period. Strs Ohio increased its position in NuVasive by 10.8% in the first quarter. Strs Ohio now owns 7,200 shares of the medical device company’s stock valued at $537,000 after buying an additional 700 shares during the period. Profit Investment Management LLC increased its position in NuVasive by 28.3% in the first quarter. Profit Investment Management LLC now owns 44,738 shares of the medical device company’s stock valued at $3,341,000 after buying an additional 9,871 shares during the period. Sawgrass Asset Management LLC bought a new position in NuVasive during the first quarter valued at about $745,000. Finally, Glen Harbor Capital Management LLC increased its position in NuVasive by 18.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,134 shares of the medical device company’s stock valued at $159,000 after buying an additional 330 shares during the period.
NuVasive, Inc. (NASDAQ NUVA) traded down 1.54% during midday trading on Thursday, reaching $66.57. The company’s stock had a trading volume of 351,731 shares. NuVasive, Inc. has a 12-month low of $56.70 and a 12-month high of $81.68. The stock’s 50 day moving average is $73.00 and its 200 day moving average is $73.98. The stock has a market cap of $3.38 billion, a P/E ratio of 104.83 and a beta of 1.06.
NuVasive (NASDAQ:NUVA) last released its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million for the quarter, compared to analyst estimates of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company’s revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 earnings per share. Analysts anticipate that NuVasive, Inc. will post $2.00 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: “NuVasive, Inc. (NASDAQ:NUVA) Shares Bought by Texas Permanent School Fund” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this piece of content on another domain, it was illegally copied and republished in violation of United States and international copyright and trademark legislation. The correct version of this piece of content can be accessed at https://stocknewstimes.com/2017/08/17/nuvasive-inc-nasdaqnuva-shares-bought-by-texas-permanent-school-fund-updated.html.
Several research firms have recently issued reports on NUVA. Morgan Stanley restated an “equal weight” rating and set a $88.00 price objective (up previously from $84.00) on shares of NuVasive in a report on Tuesday, July 25th. BidaskClub upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $85.00 price target on shares of NuVasive in a report on Thursday, July 20th. Piper Jaffray Companies increased their price target on shares of NuVasive from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Monday, June 12th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $84.00 price target on shares of NuVasive in a report on Friday, June 30th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $81.18.
In other NuVasive news, EVP Peter Michael Leddy purchased 7,850 shares of the firm’s stock in a transaction that occurred on Tuesday, August 1st. The shares were purchased at an average cost of $63.88 per share, for a total transaction of $501,458.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.70% of the company’s stock.
NuVasive Company Profile
Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
Receive News & Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
