Dimensional Fund Advisors LP Decreases Stake in NuVasive, Inc. (NUVA)

Dimensional Fund Advisors LP lessened its position in NuVasive, Inc. (NASDAQ:NUVA) by 2.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 955,469 shares of the medical device company’s stock after selling 25,675 shares during the quarter. Dimensional Fund Advisors LP owned about 1.87% of NuVasive worth $52,989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of NuVasive by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after acquiring an additional 158 shares in the last quarter. Howard Hughes Medical Institute lifted its position in shares of NuVasive by 82.8% in the second quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after acquiring an additional 936 shares in the last quarter. Shelton Capital Management purchased a new position in shares of NuVasive in the second quarter valued at approximately $221,000. Verition Fund Management LLC purchased a new position in shares of NuVasive in the second quarter valued at approximately $233,000. Finally, Riverhead Capital Management LLC lifted its position in shares of NuVasive by 65.1% in the second quarter. Riverhead Capital Management LLC now owns 3,963 shares of the medical device company’s stock valued at $305,000 after acquiring an additional 1,563 shares in the last quarter.

Shares of NuVasive, Inc. (NASDAQ NUVA) opened at $60.92 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.51 and a current ratio of 2.85. The stock has a market capitalization of $3,130.00, a price-to-earnings ratio of 51.19, a price-to-earnings-growth ratio of 1.64 and a beta of 0.77. NuVasive, Inc. has a one year low of $49.25 and a one year high of $81.68.

NuVasive (NASDAQ:NUVA) last posted its earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The company had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $255.70 million. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 earnings per share. equities analysts expect that NuVasive, Inc. will post 1.91 EPS for the current year.

NuVasive announced that its board has initiated a stock repurchase program on Tuesday, October 24th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the medical device company to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

NUVA has been the subject of several recent research reports. Royal Bank of Canada reaffirmed a “buy” rating and issued a $75.00 price target on shares of NuVasive in a report on Friday, September 8th. BTIG Research initiated coverage on NuVasive in a report on Thursday, September 7th. They issued a “buy” rating and a $82.00 price target for the company. Jefferies Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of NuVasive in a report on Tuesday, October 3rd. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $90.00 price target on shares of NuVasive in a report on Thursday, September 28th. Finally, Gabelli reaffirmed a “buy” rating on shares of NuVasive in a report on Thursday, September 21st. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus 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.

Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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