Here are five things to know about the transaction:
1. The shares sold for $33.43 per share, bringing the total transaction to $106,976.00.
2. Mr. Powers now directly owns 42,984 shares of the company valued at around $1.4 million.
3. Goldman Sachs analysts upgraded NuVasive shares to “buy” last month — on June 25 — and analysts at Canaccord Genuity now have a “buy” rating on the stock.
4. The average target price of the stock is $39.26. On July 14, the company’s stock opened at $35.99 with a 52-week high of 29.89; the 52 week low is $22.44.
5. NuVasive’s market cap is $1.6 billion and average volume is 337,207.
In late June, Mr. Powers sold 9,526 shares at $35.00 per share, resulting in $333,410 for the entire transaction. Last week the company announced plans to open an international operations center in Ireland and named Carol Cox executive vice president of strategy and corporate communications.
The company also recently released its next generation monitoring platform with computer-assisted surgery applications. In the first quarter of 2014, the company reported net income of $851,000 and gross profit of $134.2 million. The company also increased revenue to $177.5 million but reported a net loss of $18.3 million for the quarter.
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