Quantbot Technologies LP Invests $686,000 in NuVasive, Inc. (NUVA)

Quantbot Technologies LP purchased a new position in NuVasive, Inc. (NASDAQ:NUVA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 9,198 shares of the medical device company’s stock, valued at approximately $686,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Neuburgh Advisers LLC increased its position in NuVasive by 18.3% in the first quarter. Neuburgh Advisers LLC now owns 1,552 shares of the medical device company’s stock worth $116,000 after buying an additional 240 shares during the last quarter. SpiderRock Advisors LLC acquired a new position in NuVasive during the first quarter worth about $124,000. Elkfork Partners LLC acquired a new position in NuVasive during the fourth quarter worth about $155,000. Glen Harbor Capital Management LLC increased its position in NuVasive by 18.3% in the first quarter. Glen Harbor Capital Management LLC now owns 2,134 shares of the medical device company’s stock worth $159,000 after buying an additional 330 shares during the last quarter. Finally, US Bancorp DE increased its position in NuVasive by 1.7% in the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock worth $180,000 after buying an additional 41 shares during the last quarter.

Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

Shares of NuVasive, Inc. (NASDAQ:NUVA) traded down 1.43% during trading on Friday, reaching $77.89. 1,015,404 shares of the company traded hands. NuVasive, Inc. has a 12 month low of $56.70 and a 12 month high of $81.06. The stock has a market cap of $3.95 billion, a P/E ratio of 81.73 and a beta of 1.23. The stock’s 50 day moving average price is $74.60 and its 200-day moving average price is $72.20.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, April 25th. The medical device company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $249.86 million during the quarter, compared to the consensus estimate of $250.52 million. NuVasive had a return on equity of 12.63% and a net margin of 5.35%. The company’s quarterly revenue was up 16.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, equities research analysts expect that NuVasive, Inc. will post $2.01 EPS for the current fiscal year.

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A number of analysts recently weighed in on NUVA shares. TheStreet raised shares of NuVasive from a “c+” rating to a “b” rating in a report on Wednesday, May 3rd. BMO Capital Markets reissued a “buy” rating and set a $82.00 target price on shares of NuVasive in a research note on Tuesday, April 11th. Canaccord Genuity restated a “buy” rating and set a $82.00 price objective on shares of NuVasive in a research report on Tuesday, February 21st. Royal Bank of Canada restated a “buy” rating and set a $76.00 price objective on shares of NuVasive in a research report on Monday, May 15th. Finally, Jefferies Group LLC restated a “buy” rating and set a $84.00 price objective (up previously from $79.00) on shares of NuVasive in a research report on Thursday, February 16th. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $79.82.

About NuVasive

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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