Hood River Capital Management LLC Has $21.65 Million Stake in NuVasive, Inc. (NUVA)

Hood River Capital Management LLC decreased its position in NuVasive, Inc. (NASDAQ:NUVA) by 52.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 281,495 shares of the medical device company’s stock after selling 309,455 shares during the period. NuVasive comprises 1.5% of Hood River Capital Management LLC’s portfolio, making the stock its 26th largest holding. Hood River Capital Management LLC owned 0.55% of NuVasive worth $21,653,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Westside Investment Management Inc. purchased a new stake in shares of NuVasive in the first quarter valued at about $109,000. FNY Partners Fund LP acquired a new stake in shares of NuVasive in the first quarter valued at about $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake 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 purchasing an additional 158 shares during the period. Howard Hughes Medical Institute lifted its stake 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 purchasing an additional 936 shares during the period. Finally, US Bancorp DE lifted its stake in shares of NuVasive by 1.7% in the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock valued at $180,000 after purchasing an additional 41 shares during the period.

Shares of NuVasive, Inc. (NUVA) traded down 0.66% during midday trading on Friday, hitting $54.25. 720,806 shares of the stock were exchanged. NuVasive, Inc. has a one year low of $52.85 and a one year high of $81.68. The stock has a market cap of $2.76 billion, a P/E ratio of 85.43 and a beta of 1.08. The stock’s 50-day moving average price is $62.55 and its 200 day moving average price is $71.98.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company had revenue of $260.60 million during the quarter, compared to analyst estimates of $261.95 million. During the same period in the prior year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 10.3% on a year-over-year basis. On average, analysts anticipate that NuVasive, Inc. will post $2.00 earnings per share for the current year.

In related news, CEO Gregory T. Lucier purchased 5,000 shares of NuVasive stock in a transaction dated Thursday, August 17th. The stock was acquired at an average cost of $66.22 per share, with a total value of $331,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Peter Michael Leddy purchased 7,850 shares of NuVasive stock in a transaction dated Tuesday, August 1st. The stock was bought at an average cost of $63.88 per share, with a total value of $501,458.00. The disclosure for this purchase can be found here. Insiders have acquired 14,850 shares of company stock valued at $955,598 over the last ninety days. Insiders own 1.20% of the company’s stock.

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Several analysts recently commented on NUVA shares. Royal Bank Of Canada raised their price objective on shares of NuVasive from $76.00 to $85.00 and gave the company an “outperform” rating in a research note on Tuesday, June 6th. Piper Jaffray Companies raised their price objective on shares of NuVasive from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Monday, June 12th. Zacks Investment Research cut shares of NuVasive from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Cowen and Company reiterated an “outperform” rating and issued a $90.00 price objective (up previously from $85.00) on shares of NuVasive in a research note on Wednesday, June 28th. Finally, BidaskClub cut shares of NuVasive from a “buy” rating to a “hold” rating in a research note on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $79.92.

NuVasive 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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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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