A Director at NuVasive (NASDAQ: NUVA) is Buying Shares

By Carrie Williams

Today, a Director at NuVasive (NASDAQ: NUVA), Peter C. Farrell, bought shares of NUVA for $236.7K.

Following this transaction Peter C. Farrell’s holding in the company was increased by 180.64% to a total of $1.83 million. Following Peter C. Farrell’s last NUVA Buy transaction on February 19, 2016, the stock climbed by 11.0%.

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Based on NuVasive’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $261 million and GAAP net loss of $27.13 million. In comparison, last year the company earned revenue of $250 million and had a net profit of $12.77 million. NUVA’s market cap is $2.56B and the company has a P/E ratio of 62.58. Currently, NuVasive has an average volume of 466.5K.

20 different firms, including Barclays and BMO Capital, currently also have a Buy rating on the stock. Based on 11 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $63.60, reflecting a -22.3% downside.

The insider sentiment on NuVasive has been positive according to 22 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

Peter C. Farrell’s trades have generated a 2.1% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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NuVasive, Inc. engages in the development of minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. It offers cervical and spine fusion surgery, cervical plating, and posterior fixation products. The company was founded by Alexis V. Lukianov on July 21, 1997 and is headquartered in San Diego, CA.