Stoneridge Investment Partners LLC lessened its holdings in NuVasive, Inc. (NASDAQ:NUVA) by 61.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,098 shares of the medical device company’s stock after selling 8,003 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in NuVasive were worth $298,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in NUVA. Ameriprise Financial Inc. boosted its position in shares of NuVasive by 5.0% in the second quarter. Ameriprise Financial Inc. now owns 145,516 shares of the medical device company’s stock valued at $11,193,000 after acquiring an additional 6,880 shares during the period. California Public Employees Retirement System boosted its position in shares of NuVasive by 3.0% in the second quarter. California Public Employees Retirement System now owns 106,200 shares of the medical device company’s stock valued at $8,169,000 after acquiring an additional 3,100 shares during the period. Parametric Portfolio Associates LLC lifted its position in NuVasive by 30.4% during the second quarter. Parametric Portfolio Associates LLC now owns 97,476 shares of the medical device company’s stock worth $7,498,000 after purchasing an additional 22,717 shares during the period. AHL Partners LLP lifted its position in NuVasive by 9.0% during the second quarter. AHL Partners LLP now owns 6,814 shares of the medical device company’s stock worth $524,000 after purchasing an additional 563 shares during the period. Finally, Shelton Capital Management bought a new stake in NuVasive during the second quarter worth about $221,000.
Several equities research analysts recently weighed in on NUVA shares. Leerink Swann cut shares of NuVasive from an “outperform” rating to a “market perform” rating in a research report on Thursday, February 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $90.00 price objective on shares of NuVasive in a research report on Tuesday, January 9th. Wells Fargo & Co cut shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a research report on Wednesday, January 17th. Needham & Company LLC reaffirmed a “sell” rating on shares of NuVasive in a research report on Wednesday, October 25th. Finally, Robert W. Baird set a $60.00 price objective on shares of NuVasive and gave the stock a “hold” rating in a research report on Thursday, October 12th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $72.33.
NuVasive declared that its board has approved a share repurchase program on Tuesday, October 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the medical device company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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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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