Bank of Montreal Can boosted its position in NuVasive, Inc. (NASDAQ:NUVA) by 567.5% in the fourth quarter, HoldingsChannel reports. The firm owned 27,830 shares of the medical device company’s stock after buying an additional 23,661 shares during the quarter. Bank of Montreal Can’s holdings in NuVasive were worth $1,627,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. DnB Asset Management AS bought a new position in NuVasive in the fourth quarter worth $9,405,000. AXA raised its holdings in NuVasive by 17.7% in the third quarter. AXA now owns 444,567 shares of the medical device company’s stock worth $24,656,000 after purchasing an additional 66,754 shares in the last quarter. GSA Capital Partners LLP raised its holdings in NuVasive by 176.5% in the third quarter. GSA Capital Partners LLP now owns 9,403 shares of the medical device company’s stock worth $521,000 after purchasing an additional 6,002 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in NuVasive by 238.5% in the third quarter. Cubist Systematic Strategies LLC now owns 22,873 shares of the medical device company’s stock worth $1,269,000 after purchasing an additional 16,115 shares in the last quarter. Finally, Zions Bancorporation bought a new position in NuVasive in the third quarter worth $160,000.

Shares of NuVasive, Inc. (NASDAQ NUVA) opened at $46.54 on Wednesday. The company has a current ratio of 2.85, a quick ratio of 1.51 and a debt-to-equity ratio of 0.76. NuVasive, Inc. has a 12-month low of $44.62 and a 12-month high of $81.68. The company has a market capitalization of $2,370.00, a price-to-earnings ratio of 39.11, a P/E/G ratio of 1.31 and a beta of 0.50.

NuVasive announced that its board has approved a stock repurchase plan on Tuesday, October 24th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the medical device company to purchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of research firms have issued reports on NUVA. BTIG Research set a $74.00 price objective on NuVasive and gave the stock a “buy” rating in a report on Wednesday, December 13th. BidaskClub upgraded NuVasive from a “sell” rating to a “hold” rating in a report on Friday, December 15th. JPMorgan Chase & Co. set a $78.00 price objective on NuVasive and gave the stock a “buy” rating in a report on Wednesday, October 25th. Barclays decreased their price objective on NuVasive from $80.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, October 19th. Finally, Wells Fargo & Co reiterated an “outperform” rating and issued a $65.00 price objective (down previously from $81.00) on shares of NuVasive in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company. NuVasive currently has an average rating of “Buy” and an average price target of $72.33.

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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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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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