NuVasive Sees Unusually Large Options Volume (NUVA)

NuVasive, Inc. (NASDAQ:NUVA) was the target of some unusual options trading activity on Monday. Stock traders acquired 3,229 call options on the company. This represents an increase of 6,110% compared to the average daily volume of 52 call options.

A number of research analysts have recently commented on NUVA shares. Robert W. Baird upgraded shares of NuVasive from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $82.00 in a research report on Thursday, September 27th. Morgan Stanley boosted their price target on shares of NuVasive from $55.00 to $77.00 and gave the company a “hold” rating in a research report on Tuesday, September 25th. TheStreet upgraded shares of NuVasive from a “c+” rating to a “b-” rating in a research report on Thursday, August 2nd. Canaccord Genuity upped their target price on shares of NuVasive from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Finally, BidaskClub lowered shares of NuVasive from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 21st. Two analysts have rated the stock with a sell rating, seven have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $67.47.

Shares of NASDAQ:NUVA traded up $1.72 during midday trading on Thursday, hitting $63.22. 460,331 shares of the stock traded hands, compared to its average volume of 782,326. The company has a market cap of $3.16 billion, a price-to-earnings ratio of 33.10, a price-to-earnings-growth ratio of 1.84 and a beta of 0.78. The company has a current ratio of 3.45, a quick ratio of 1.83 and a debt-to-equity ratio of 0.74. NuVasive has a one year low of $44.62 and a one year high of $72.41.

NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Tuesday, October 30th. The medical device company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.62 by ($0.06). The firm had revenue of $271.30 million for the quarter, compared to the consensus estimate of $265.70 million. NuVasive had a net margin of 2.24% and a return on equity of 13.87%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period last year, the company posted $0.52 earnings per share. As a group, research analysts forecast that NuVasive will post 2.18 EPS for the current fiscal year.

In related news, insider Matthew Link sold 1,200 shares of NuVasive stock in a transaction that occurred on Friday, November 16th. The shares were sold at an average price of $62.01, for a total value of $74,412.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.20% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of NuVasive by 4.7% during the second quarter. Oregon Public Employees Retirement Fund now owns 19,899 shares of the medical device company’s stock valued at $1,037,000 after acquiring an additional 889 shares during the last quarter. Arizona State Retirement System increased its position in shares of NuVasive by 2.6% during the second quarter. Arizona State Retirement System now owns 35,589 shares of the medical device company’s stock valued at $1,855,000 after buying an additional 903 shares during the period. Strs Ohio increased its position in shares of NuVasive by 45.5% during the second quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock valued at $166,000 after buying an additional 1,000 shares during the period. Swiss National Bank increased its position in shares of NuVasive by 1.1% during the third quarter. Swiss National Bank now owns 89,369 shares of the medical device company’s stock valued at $6,343,000 after buying an additional 1,000 shares during the period. Finally, Amalgamated Bank increased its position in shares of NuVasive by 14.9% during the second quarter. Amalgamated Bank now owns 8,384 shares of the medical device company’s stock valued at $437,000 after buying an additional 1,086 shares during the period.

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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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