Paradigm Capital Management Inc. NY Has $1.30 Million Position in NuVasive, Inc. (NUVA)
Paradigm Capital Management Inc. NY boosted its stake in shares of NuVasive, Inc. (NASDAQ:NUVA) by 25.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,500 shares of the medical device company’s stock after acquiring an additional 4,700 shares during the quarter. Paradigm Capital Management Inc. NY’s holdings in NuVasive were worth $1,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of NUVA. Koch Industries Inc. boosted its holdings in NuVasive by 26,406.7% during the 2nd quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock valued at $970,000 after acquiring an additional 978,631 shares during the period. Voya Investment Management LLC boosted its holdings in NuVasive by 43.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock valued at $130,761,000 after acquiring an additional 517,115 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in NuVasive by 118.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock valued at $42,055,000 after acquiring an additional 296,715 shares during the period. Renaissance Technologies LLC boosted its holdings in NuVasive by 450.6% during the 2nd quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock valued at $24,221,000 after acquiring an additional 257,700 shares during the period. Finally, Teachers Advisors LLC boosted its holdings in NuVasive by 205.8% during the 1st quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock valued at $18,636,000 after acquiring an additional 167,950 shares during the period.
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NuVasive, Inc. (NASDAQ NUVA) traded down $1.41 during mid-day trading on Monday, reaching $55.32. The company had a trading volume of 546,200 shares, compared to its average volume of 871,446. NuVasive, Inc. has a one year low of $49.25 and a one year high of $81.68. The company has a current ratio of 2.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.76. The company has a market cap of $2,819.55, a price-to-earnings ratio of 29.27, a PEG ratio of 1.97 and a beta of 0.78.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. NuVasive had a return on equity of 18.29% and a net margin of 13.41%. The company had revenue of $247.40 million during the quarter, compared to analyst estimates of $255.70 million. During the same quarter last year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. equities research analysts predict that NuVasive, Inc. will post 1.91 earnings per share for the current year.
NuVasive announced that its board has approved a share buyback program on Tuesday, October 24th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the medical device company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.
NUVA has been the subject of several analyst reports. Needham & Company LLC cut NuVasive from a “hold” rating to an “underperform” rating in a report on Monday, August 28th. BTIG Research began coverage on NuVasive in a report on Thursday, September 7th. They issued a “buy” rating and a $82.00 price objective for the company. Cowen and Company reiterated an “outperform” rating and issued a $83.00 price objective on shares of NuVasive in a report on Monday, September 18th. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Finally, Robert W. Baird set a $60.00 price objective on NuVasive and gave the stock a “hold” rating in a report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $72.33.
In related news, CEO Gregory T. Lucier acquired 2,000 shares of NuVasive stock in a transaction that occurred on Tuesday, August 29th. The stock was bought at an average price of $61.52 per share, with a total value of $123,040.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lesley H. Howe sold 3,970 shares of the firm’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $64.64, for a total value of $256,620.80. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
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.
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