Investors Purchase Large Volume of Put Options on NuVasive (NUVA)

NuVasive, Inc. (NASDAQ:NUVA) was the recipient of some unusual options trading on Wednesday. Stock traders purchased 2,409 put options on the company. This is an increase of approximately 3,849% compared to the average daily volume of 61 put options.

A number of research firms recently issued reports on NUVA. BidaskClub raised NuVasive from a “hold” rating to a “buy” rating in a research report on Wednesday, April 11th. Goldman Sachs began coverage on NuVasive in a research report on Wednesday, April 4th. They set a “neutral” rating and a $47.00 price objective for the company. ValuEngine cut NuVasive from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Robert W. Baird reissued a “hold” rating and set a $55.00 price objective on shares of NuVasive in a research report on Tuesday, February 27th. Finally, Cowen set a $62.00 price objective on NuVasive and gave the company a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $66.00.

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Shares of NASDAQ:NUVA opened at $52.87 on Thursday. NuVasive has a fifty-two week low of $44.62 and a fifty-two week high of $81.68. The stock has a market capitalization of $2,681.81, a price-to-earnings ratio of 27.68, a P/E/G ratio of 1.40 and a beta of 0.38. The company has a quick ratio of 1.94, a current ratio of 3.48 and a debt-to-equity ratio of 0.73.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings data on Monday, February 26th. The medical device company reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. NuVasive had a return on equity of 13.40% and a net margin of 8.06%. The business had revenue of $271.70 million during the quarter, compared to analysts’ expectations of $272.11 million. During the same quarter in the previous year, the firm earned $0.53 EPS. The firm’s revenue was up .2% compared to the same quarter last year. analysts predict that NuVasive will post 2.46 EPS for the current fiscal year.

In other news, CEO Gregory T. Lucier acquired 6,000 shares of NuVasive stock in a transaction that occurred on Tuesday, March 6th. The stock was purchased at an average price of $50.30 per share, with a total value of $301,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Champlain Investment Partners LLC lifted its position in shares of NuVasive by 6.4% during the 4th quarter. Champlain Investment Partners LLC now owns 2,866,247 shares of the medical device company’s stock worth $167,647,000 after purchasing an additional 171,455 shares during the last quarter. Eagle Asset Management Inc. lifted its position in shares of NuVasive by 0.3% during the 4th quarter. Eagle Asset Management Inc. now owns 1,134,950 shares of the medical device company’s stock worth $65,542,000 after purchasing an additional 3,585 shares during the last quarter. AXA lifted its position in shares of NuVasive by 80.1% during the 4th quarter. AXA now owns 800,475 shares of the medical device company’s stock worth $46,820,000 after purchasing an additional 355,908 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new position in shares of NuVasive during the 4th quarter worth about $43,226,000. Finally, Stephens Investment Management Group LLC lifted its position in shares of NuVasive by 5.2% during the 4th quarter. Stephens Investment Management Group LLC now owns 719,849 shares of the medical device company’s stock worth $42,104,000 after purchasing an additional 35,770 shares during the last quarter.

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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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