FineMark National Bank & Trust Buys New Holdings in NuVasive, Inc. (NUVA)

FineMark National Bank & Trust acquired a new position in shares of NuVasive, Inc. (NASDAQ:NUVA) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,500 shares of the medical device company’s stock, valued at approximately $248,000.

Several other large investors also recently bought and sold shares of NUVA. Guggenheim Capital LLC increased its holdings in shares of NuVasive by 12.0% during the 1st quarter. Guggenheim Capital LLC now owns 12,026 shares of the medical device company’s stock worth $627,000 after purchasing an additional 1,285 shares during the period. Legal & General Group Plc increased its holdings in shares of NuVasive by 11.3% during the 1st quarter. Legal & General Group Plc now owns 51,828 shares of the medical device company’s stock worth $2,706,000 after purchasing an additional 5,258 shares during the period. Xact Kapitalforvaltning AB increased its holdings in shares of NuVasive by 33.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,716 shares of the medical device company’s stock worth $351,000 after purchasing an additional 1,700 shares during the period. Principal Financial Group Inc. increased its holdings in shares of NuVasive by 4.3% during the 1st quarter. Principal Financial Group Inc. now owns 226,509 shares of the medical device company’s stock worth $11,826,000 after purchasing an additional 9,438 shares during the period. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of NuVasive during the 2nd quarter worth about $304,000.

Shares of NuVasive stock opened at $59.02 on Friday. The company has a current ratio of 3.45, a quick ratio of 1.83 and a debt-to-equity ratio of 0.74. NuVasive, Inc. has a twelve month low of $44.62 and a twelve month high of $72.41. The stock has a market cap of $2.90 billion, a PE ratio of 30.90, a price-to-earnings-growth ratio of 1.69 and a beta of 0.78.

NuVasive (NASDAQ:NUVA) last issued its earnings results on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.06). NuVasive had a net margin of 2.24% and a return on equity of 13.87%. The business had revenue of $271.30 million for the quarter, compared to analyst estimates of $265.70 million. During the same quarter last year, the firm posted $0.52 earnings per share. NuVasive’s revenue was up 9.7% on a year-over-year basis. Research analysts forecast that NuVasive, Inc. will post 2.18 earnings per share for the current year.

Several research analysts have recently issued reports on NUVA shares. Robert W. Baird upgraded shares of NuVasive from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $82.00 in a report on Thursday, September 27th. Morgan Stanley boosted their price objective on shares of NuVasive from $55.00 to $77.00 and gave the stock a “hold” rating in a report on Tuesday, September 25th. TheStreet upgraded shares of NuVasive from a “c+” rating to a “b-” rating in a report on Thursday, August 2nd. Canaccord Genuity boosted their price objective on shares of NuVasive from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, September 18th. Finally, BidaskClub downgraded shares of NuVasive from a “strong-buy” rating to a “buy” rating in a report on Friday, September 21st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $67.63.

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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 product is 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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