Elk Creek Partners LLC boosted its holdings in NuVasive, Inc. (NASDAQ:NUVA) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 227,626 shares of the medical device company’s stock after acquiring an additional 37,931 shares during the quarter. Elk Creek Partners LLC’s holdings in NuVasive were worth $11,884,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Rockefeller Capital Management L.P. bought a new position in NuVasive in the 1st quarter valued at approximately $141,000. Westside Investment Management Inc. lifted its position in NuVasive by 76.0% in the 4th quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock valued at $147,000 after acquiring an additional 1,140 shares in the last quarter. Baird Financial Group Inc. bought a new position in NuVasive in the 4th quarter valued at approximately $205,000. Symphony Asset Management LLC bought a new position in NuVasive in the 1st quarter valued at approximately $273,000. Finally, Xact Kapitalforvaltning AB bought a new position in NuVasive in the 4th quarter valued at approximately $293,000.

Shares of NUVA opened at $51.26 on Friday. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 26.84, a P/E/G ratio of 1.36 and a beta of 0.39. The company has a quick ratio of 1.30, a current ratio of 2.41 and a debt-to-equity ratio of 0.77. NuVasive, Inc. has a 1-year low of $44.62 and a 1-year high of $81.68.

NuVasive (NASDAQ:NUVA) last announced its earnings results on Tuesday, May 1st. The medical device company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.06). The company had revenue of $260.50 million for the quarter, compared to analysts’ expectations of $259.43 million. NuVasive had a net margin of 4.14% and a return on equity of 13.14%. NuVasive’s quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. sell-side analysts expect that NuVasive, Inc. will post 2.45 earnings per share for the current year.

Several equities analysts recently issued reports on the company. Cantor Fitzgerald assumed coverage on NuVasive in a research report on Thursday. They issued a “neutral” rating on the stock. BidaskClub raised NuVasive from a “sell” rating to a “hold” rating in a research report on Saturday, May 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $69.00 price objective (down from $70.00) on shares of NuVasive in a research report on Wednesday, May 2nd. BMO Capital Markets cut NuVasive from an “outperform” rating to a “market perform” rating and set a $69.00 price objective on the stock. in a research report on Wednesday, May 2nd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $72.00 price objective on shares of NuVasive in a research report on Wednesday, May 2nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $65.75.

In related news, CEO Gregory T. Lucier acquired 6,000 shares of NuVasive stock in a transaction dated Tuesday, March 6th. The stock was purchased at an average cost of $50.30 per share, for a total transaction of $301,800.00. The purchase was disclosed in a filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by insiders.

About NuVasive

NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.

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Institutional Ownership by Quarter for NuVasive (NASDAQ:NUVA)

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