NuVasive Inc. (NUVA) Updates FY13 Earnings Guidance
NuVasive Inc. (NASDAQ:NUVA) updated its FY13 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.14 for the period, compared to the Thomson Reuters consensus estimate of $1.00, AnalystRatings.NET reports. The company issued revenue guidance of $670 million, compared to the consensus revenue estimate of $657.88 million.
A number of research firms have recently commented on NUVA. Analysts at Goldman Sachs Group Inc. downgraded shares of NuVasive from a neutral rating to a sell rating in a research note to investors on Monday, October 14th. They now have a $22.00 price target on the stock, down previously from $25.00. On a related note, analysts at BMO Capital Markets upgraded shares of NuVasive from an underperform rating to a market perform rating in a research note to investors on Monday, October 14th. They now have a $25.00 price target on the stock, up previously from $22.00. Finally, analysts at Needham & Company initiated coverage on shares of NuVasive in a research note to investors on Thursday, August 8th. They set a buy rating and a $28.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $25.60.
Shares of NuVasive Inc. (NASDAQ:NUVA) traded down 1.12% on Tuesday, hitting $25.66. 454,602 shares of the company’s stock traded hands. NuVasive Inc. has a 52-week low of $12.35 and a 52-week high of $27.20. The stock has a 50-day moving average of $23.8 and a 200-day moving average of $22.60. The company’s market cap is $1.143 billion.
NuVasive (NASDAQ:NUVA) last released its earnings data on Tuesday, October 29th. The company reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.15. The company had revenue of $169.20 million for the quarter, compared to the consensus estimate of $158.30 million. During the same quarter last year, the company posted $0.23 earnings per share. NuVasive’s revenue was up 14.0% compared to the same quarter last year. Analysts expect that NuVasive Inc. will post $1.00 EPS for the current fiscal year.
In other NuVasive news, VP Russell Powers sold 12,500 shares of NuVasive stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $25.39, for a total transaction of $317,375.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
NuVasive, Inc (NASDAQ:NUVA) is a medical device company.
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