Is Major Move Coming For NuVasive, Inc. (NUVA) After This Bullish Wedge Up Pattern?

July 18, 2017 - By Adrian Erickson

Investors sentiment decreased to 0.93 in 2016 Q4. Its down 0.58, from 1.51 in 2016Q3. It fall, as 37 investors sold NuVasive, Inc. shares while 94 reduced holdings. 41 funds opened positions while 81 raised stakes. 53.03 million shares or 5.08% more from 50.46 million shares in 2016Q3 were reported.
Victory Capital Inc reported 418,753 shares. Texas Permanent School Fund holds 0.03% or 36,722 shares in its portfolio. Mutual Of America Capital Ltd Com has invested 0.1% of its portfolio in NuVasive, Inc. (NASDAQ:NUVA). 31,008 were accumulated by Marshall Wace Ltd Liability Partnership. Aqr Cap Mngmt owns 17,485 shares. Elk Creek Prtn Ltd Liability Corp has 1.08% invested in NuVasive, Inc. (NASDAQ:NUVA) for 237,592 shares. Morgan Stanley, a New York-based fund reported 240,731 shares. Pillar Pacific Cap Mngmt Limited Liability Com owns 6,750 shares or 0.07% of their US portfolio. 404,266 are owned by Neuberger Berman Grp Inc Ltd. Connecticut-based Paloma Mngmt Company has invested 0% in NuVasive, Inc. (NASDAQ:NUVA). Riverhead Capital Mgmt Limited Liability Corporation owns 2,100 shares for 0.01% of their portfolio. Gilder Gagnon Howe & Ltd Limited Liability Company stated it has 30,247 shares or 0.04% of all its holdings. Fisher Asset Mgmt Ltd Liability invested in 0.16% or 1.40M shares. The New York-based Etrade Cap Mgmt Ltd Liability Corp has invested 0.04% in NuVasive, Inc. (NASDAQ:NUVA). 100,509 are owned by Manufacturers Life Ins Company The.

Since February 13, 2017, it had 0 insider buys, and 4 selling transactions for $4.72 million activity. The insider Hannon Jason sold $1.84 million. Another trade for 17,286 shares valued at $1.26 million was sold by LUCIER GREGORY T. The insider Miles Patrick sold $1.18 million. Another trade for 6,049 shares valued at $443,150 was made by HOWE LESLEY H on Monday, February 13.

The stock of NuVasive, Inc. (NUVA) formed an up wedge with $80.75 target or 3.00 % above today’s $78.40 share price. The 9 months wedge indicates low risk for the $4.02B company. If the $80.75 price target is reached, the company will be worth $120.60M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.48% or $0.38 during the last trading session, reaching $78.4. About shares traded. NuVasive, Inc. (NASDAQ:NUVA) has risen 33.31% since July 18, 2016 and is uptrending. It has outperformed by 16.61% the S&P500.

Analysts await NuVasive, Inc. (NASDAQ:NUVA) to report earnings on July, 25. They expect $0.45 earnings per share, up 12.50 % or $0.05 from last year’s $0.4 per share. NUVA’s profit will be $23.07M for 43.56 P/E if the $0.45 EPS becomes a reality. After $0.38 actual earnings per share reported by NuVasive, Inc. for the previous quarter, Wall Street now forecasts 18.42 % EPS growth.

NuVasive, Inc. (NASDAQ:NUVA) Ratings Coverage

Among 16 analysts covering Nuvasive Inc. (NASDAQ:NUVA), 14 have Buy rating, 0 Sell and 2 Hold. Therefore 88% are positive. Nuvasive Inc. had 25 analyst reports since July 29, 2015 according to SRatingsIntel. As per Wednesday, July 27, the company rating was maintained by Barclays Capital. BMO Capital Markets upgraded NuVasive, Inc. (NASDAQ:NUVA) on Tuesday, October 6 to “Outperform” rating. The firm has “Overweight” rating given on Monday, October 10 by . The firm has “Buy” rating given on Thursday, June 29 by Jefferies. The stock has “Outperform” rating by Cowen & Co on Wednesday, April 27. The stock has “Buy” rating by Jefferies on Wednesday, July 27. Northland Capital upgraded NuVasive, Inc. (NASDAQ:NUVA) rating on Thursday, July 30. Northland Capital has “Outperform” rating and $68 target. The company was initiated on Wednesday, November 30 by Aegis Capital. Cowen & Co maintained NuVasive, Inc. (NASDAQ:NUVA) on Wednesday, June 28 with “Buy” rating. RBC Capital Markets maintained the stock with “Buy” rating in Tuesday, June 6 report.

More news for NuVasive, Inc. (NASDAQ:NUVA) were recently published by: Prnewswire.com, which released: “NuVasive Leading Sponsor Of IMAST 2017 And Hosting Workshops Featuring …” on July 10, 2017. Seekingalpha.com‘s article titled: “Innovation And Execution A Powerful Combination For NuVasive” and published on June 21, 2017 is yet another important article.

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