State Street Corp increased its position in NuVasive Inc. (NASDAQ:NUVA) by 1.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 1,079,736 shares of the medical device company’s stock after buying an additional 20,644 shares during the period. State Street Corp owned about 2.17% of NuVasive worth $52,522,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A. boosted its position in shares of NuVasive by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,292,238 shares of the medical device company’s stock worth $62,867,000 after buying an additional 13,323 shares during the last quarter. Eos Focused Equity Management L.P. boosted its position in shares of NuVasive by 6.6% in the first quarter. Eos Focused Equity Management L.P. now owns 154,615 shares of the medical device company’s stock worth $7,522,000 after buying an additional 9,515 shares during the last quarter. Teachers Advisors Inc. boosted its position in shares of NuVasive by 8.6% in the first quarter. Teachers Advisors Inc. now owns 350,853 shares of the medical device company’s stock worth $17,069,000 after buying an additional 27,809 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of NuVasive by 0.7% in the first quarter. Disciplined Growth Investors Inc. MN now owns 65,925 shares of the medical device company’s stock worth $3,207,000 after buying an additional 475 shares during the last quarter. Finally, Ramsey Quantitative Systems bought a new position in shares of NuVasive during the first quarter worth about $570,000.
NuVasive Inc. (NASDAQ:NUVA) traded up 2.26% on Thursday, reaching $62.02. The company’s stock had a trading volume of 857,729 shares. The firm has a market cap of $3.40 billion and a P/E ratio of 64.34. NuVasive Inc. has a 12 month low of $36.81 and a 12 month high of $62.95. The firm’s 50 day moving average is $59.90 and its 200-day moving average is $51.26.
Several brokerages have recently commented on NUVA. Zacks Investment Research raised NuVasive from a “hold” rating to a “strong-buy” rating and set a $70.00 target price for the company in a research report on Thursday. TheStreet raised NuVasive from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Barclays PLC raised their target price on NuVasive from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday. Brean Capital raised their target price on NuVasive from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Jefferies Group raised their target price on NuVasive from $63.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday. Three research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $64.64.
In other news, EVP Jason Hannon sold 14,534 shares of the firm’s stock in a transaction that occurred on Thursday, June 16th. The shares were sold at an average price of $57.57, for a total transaction of $836,722.38. Following the transaction, the executive vice president now directly owns 37,616 shares of the company’s stock, valued at $2,165,553.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
