NuVasive (NUVA) : Camber Capital Management scooped up 400,000 additional shares in NuVasive during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 1,500,000 shares of NuVasive which is valued at $79.7 Million.NuVasive makes up approximately 4.86% of Camber Capital Management’s portfolio.
Other Hedge Funds, Including , Bluemountain Capital Management reduced its stake in NUVA by selling 1,422,924 shares or 92.88% in the most recent quarter. The Hedge Fund company now holds 109,000 shares of NUVA which is valued at $5.8 Million. NuVasive makes up approx 0.22% of Bluemountain Capital Management’s portfolio.Blackrock Advisors reduced its stake in NUVA by selling 293,559 shares or 34.34% in the most recent quarter. The Hedge Fund company now holds 561,288 shares of NUVA which is valued at $29.8 Million. NuVasive makes up approx 0.03% of Blackrock Advisors’s portfolio.New York State Common Retirement Fund reduced its stake in NUVA by selling 10,763 shares or 5.29% in the most recent quarter. The Hedge Fund company now holds 192,631 shares of NUVA which is valued at $10.1 Million. NuVasive makes up approx 0.02% of New York State Common Retirement Fund’s portfolio.
NuVasive closed down -0.35 points or -0.65% at $53.8 with 2,58,366 shares getting traded on Wednesday. Post opening the session at $54.12, the shares hit an intraday low of $53.47 and an intraday high of $54.31 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
On the company’s financial health, NuVasive reported $0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.27. The company had revenue of $215.10 million for the quarter, compared to analysts expectations of $205.44 million. The company’s revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS.
Many Wall Street Analysts have commented on NuVasive. Company shares were Upgraded by Barclays on May 27, 2016 to ” Overweight”, Firm has raised the Price Target to $ 63 from a previous price target of $58 .
Nuvasive Inc. is a global medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. Its marketed product portfolio is focused on applications for spine fusion surgery. Its product offering includes a minimally-disruptive surgical platform called Maximum Access Surgery (MAS). The MAS platform combines three categories of solutions that collectively minimize soft tissue disruption during spine fusion surgery provide visualization and are designed to enable reproducible outcomes for the surgeon and the patient. The platform includes the Companys software-driven nerve detection and avoidance systems including NVM5 and NVJJB Intra-Operative Monitoring (IOM) services and support; MaXcess which is an integrated split-blade retractor system and a variety of implants and biologics.