Is NuVasive, Inc. (NUVA) a Good Stock To Buy?

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Judging by the fact that NuVasive, Inc. (NASDAQ:NUVA) has witnessed a decline in interest from hedge fund managers, we can see that there is a sect of funds who sold off their full holdings in the third quarter. Interestingly, Stephen DuBois’ Camber Capital Management cut the largest investment of all the hedgies followed by Insider Monkey, comprising an estimated $44.8 million in stock, and Steve Cohen’s Point72 Asset Management was right behind this move, as the fund said goodbye to about $14.5 million worth of shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as NuVasive, Inc. (NASDAQ:NUVA) but similarly valued. We will take a look at Two Harbors Investment Corp (NYSE:TWO), Black Stone Minerals LP (NYSE:BSM), Integra Lifesciences Holdings Corp (NASDAQ:IART), and Urban Edge Properties (NYSE:UE). This group of stocks’ market valuations are similar to NUVA’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TWO 21 111088 3
BSM 7 21323 0
IART 19 132579 3
UE 8 15485 3

As you can see these stocks had an average of 14 funds with bullish positions and the average amount invested in these stocks was $70 million, which compares with a $382 million figure in NUVA’s case. Two Harbors Investment Corp (NYSE:TWO) is the most popular stock in this table. On the other hand Black Stone Minerals LP (NYSE:BSM) is the least popular one with only seven investors holding shares. Compared to these stocks NuVasive, Inc. (NASDAQ:NUVA) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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