NuVasive, Inc. (NASDAQ:NUVA) has been the object of insider selling activity recently. Patrick Miles, Director sold $1,175,250 worth of shares at an average price of $78.35 on Wed the 7th. That brings Miles’s holdings to $5,700,433 as reported to the SEC. Jason Hannon, President and COO disclosed the sale of 24,840 shares of NUVA stock. The shares were purchased at an average price of $74.51. Hannon now owns $3,350,044 of the stock per the Form 4 SEC filing.
Director Lesley H. Howe let go of 6,049 shares at an average price of $73.26 on Tue the 14th. Howe now owns $866,666 of stock per an SEC filing yesterday.
Nuvasive, Inc., launched on July 21, 1997, is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. The Business’s product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process. The Business’s principal product offering includes a minimally-disruptive surgical platform called Maximum Access Surgery (MAS). The platform includes the Business’s software-driven nerve detection and avoidance systems, including NVM5, and intraoperative monitoring (IOM) services and support; MaXcess, which is an integrated split-blade retractor system, and a range of implants and biologics. The MAS platform combines three product categories: its MaXcess retractors, specialized implants and fixation products, and nerve monitoring systems and service offerings that collectively enable surgeons to detect and navigate around nerves, while directing customized access to the spine for implant delivery..
Here are a few other firms who have also updated their positions. As of quarter end Empire Life Investments Inc. had disposed of 469 shares trimming its holdings by 2.7%. The value of the investment in NuVasive, Inc. went from $1,214,000 to $797,000 decreasing 34.3% quarter to quarter. Nomura Holdings Inc reduced its ownership by selling 107,577 shares a decrease of 29.1%. Nomura Holdings Inc controls 262,570 shares worth $19,607,000. The total value of its holdings decreased 20.9%.
Bank Of Nova Scotia expanded its position by buying 68,700 shares an increase of 207.3% as of 03/31/2017. Bank Of Nova Scotia owns 101,840 shares with a value of $7,605,000. The value of the position overall is up by 240.7%. As of the end of the quarter Goldman Sachs Group Inc had bought a total of 19,580 shares growing its stake by 82.0%. The value of the investment in NUVA increased from $1,609,000 to $3,246,000 a change of 101.7% quarter over quarter.
On November 30 analysts at Aegis Capital began coverage giving it an initial rating of “Buy”. On October 10 Barclays kept the stock rating at “Overweight” and raised the price target to $74.00 from $71.00.
July 27 investment analysts at Jefferies maintained a company rating of “Overweight” but moved up the price target from $63.00 to $71.00. July 27 investment analysts at Barclays held the company rating at “Overweight” and raised the price expectation from $63.00 to $71.00.
On July 13 the stock rating was upgraded to “Overweight” from “Neutral” and a price target of $74.00 was set in an announcement from JP Morgan. Equity analyst JP Morgan upgraded the stock and raised the price target on July 13 boosting the price target from $40.00 to $74.00 and raising the rating from “Neutral” to “Overweight”.
The company is down by -1.05 percent from yesterday’s close. It is currently trading at $79.13 a bit higher than $74.02, the 50 day moving average and which is slightly above the 200 day moving average of $71.61. The 50 day moving average was up $5.11 and the 200 day average went up $7.52 or +10.50%.
The P/E ratio is 83.03 and the market cap is 4.01B. In the latest earnings report the EPS was $0.95 and is estimated to be $2.01 for the current year with 50,662,000 shares currently outstanding. Analysts expect next quarter’s EPS will be $0.52 with next year’s EPS anticipated to be $2.47.
Investors are feeling more bearish on NuVasive, Inc. of late if you pay attention to the motion in short interest. The firm saw a rise in short interest of 2.89% as of April 28, 2017 from the last reporting period. Short interest increased from 4,509,606 to 4,640,124 over that period. Days to cover increased 2.3 to 7.0 and the short interest percentage is 0.09% as of April 28.