Champlain Investment Partners buys $105,866,835 stake in NuVasive (NUVA)

NuVasive (NUVA) : Champlain Investment Partners scooped up 625,555 additional shares in NuVasive during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 1,682,830 shares of NuVasive which is valued at $105,866,835.NuVasive makes up approximately 1.74% of Champlain Investment Partners’s portfolio.

Other Hedge Funds, Including , Parametric Portfolio Associates boosted its stake in NUVA in the latest quarter, The investment management firm added 7,267 additional shares and now holds a total of 67,777 shares of NuVasive which is valued at $4,263,851. NuVasive makes up approx 0.01% of Parametric Portfolio Associates’s portfolio.Blackrock Advisors reduced its stake in NUVA by selling 52,937 shares or 9.43% in the most recent quarter. The Hedge Fund company now holds 508,351 shares of NUVA which is valued at $31,980,361. NuVasive makes up approx 0.03% of Blackrock Advisors’s portfolio.Rs Investment Management Co reduced its stake in NUVA by selling 247,240 shares or 23.96% in the most recent quarter. The Hedge Fund company now holds 784,483 shares of NUVA which is valued at $47,578,894. NuVasive makes up approx 0.46% of Rs Investment Management Co’s portfolio.

NuVasive opened for trading at $64.07 and hit $64.88 on the upside on Monday, eventually ending the session at $64.81, with a gain of 1.15% or 0.74 points. The heightened volatility saw the trading volume jump to 3,23,825 shares. Company has a market cap of $3,254 M.

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 Reiterated by Barclays on Jul 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 71 from a previous price target of $63 .Company shares were Upgraded by JP Morgan on Jul 13, 2016 to ” Overweight”, Firm has raised the Price Target to $ 74 from a previous price target of $55 .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 Company’s 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.

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