Fox Run Management L.L.C. bought a new stake in NuVasive, Inc. (NASDAQ:NUVA) in the fourth quarter, HoldingsChannel.com reports. The firm bought 25,115 shares of the medical device company’s stock, valued at approximately $1,469,000. NuVasive accounts for 0.4% of Fox Run Management L.L.C.’s portfolio, making the stock its 11th biggest position.
Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in NuVasive by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after buying an additional 53,769 shares during the last quarter. Icon Advisers Inc. Co. purchased a new stake in NuVasive during the 3rd quarter worth about $360,000. Dynamic Technology Lab Private Ltd purchased a new stake in NuVasive during the 2nd quarter worth about $501,000. Sector Gamma AS purchased a new stake in NuVasive during the 3rd quarter worth about $10,149,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in NuVasive by 68.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 115,372 shares of the medical device company’s stock worth $8,874,000 after buying an additional 46,805 shares during the last quarter.
NuVasive, Inc. (NASDAQ NUVA) traded down $1.70 on Thursday, hitting $50.29. The stock had a trading volume of 2,111,000 shares, compared to its average volume of 1,509,100. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. NuVasive, Inc. has a twelve month low of $48.41 and a twelve month high of $81.68. The firm has a market capitalization of $2,560.00, a PE ratio of 42.26, a P/E/G ratio of 1.48 and a beta of 0.77.
NuVasive announced that its board has approved a share buyback program on Tuesday, October 24th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the medical device company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
A number of analysts have issued reports on the company. Needham & Company LLC raised NuVasive from an “underperform” rating to a “buy” rating and set a $71.00 price target for the company in a report on Thursday, January 4th. Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. BidaskClub raised NuVasive from a “sell” rating to a “hold” rating in a report on Friday, December 15th. BMO Capital Markets reaffirmed a “buy” rating and set a $70.00 price target on shares of NuVasive in a report on Thursday, December 14th. Finally, BTIG Research set a $74.00 price target on NuVasive and gave the stock a “buy” rating in a report on Wednesday, December 13th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. NuVasive currently has an average rating of “Buy” and a consensus price target of $72.33.
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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