Analysts Offer Predictions for NuVasive Inc.’s FY2018 Earnings (NUVA)
NuVasive Inc. (NASDAQ:NUVA) – Stock analysts at Leerink Swann upped their FY2018 earnings estimates for shares of NuVasive in a note issued to investors on Friday. Leerink Swann analyst R. Newitter now anticipates that the brokerage will post earnings of $2.80 per share for the year, up from their prior forecast of $2.52.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Tuesday, July 26th. The medical device company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.04. The business earned $236.50 million during the quarter, compared to analysts’ expectations of $232.86 million. NuVasive had a return on equity of 10.57% and a net margin of 5.28%. The business’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.31 earnings per share.
A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. upgraded NuVasive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $74.00 in a report on Wednesday, July 13th. Zacks Investment Research lowered NuVasive from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 27th. Jefferies Group reissued a “buy” rating on shares of NuVasive in a research report on Wednesday, August 3rd. TheStreet raised NuVasive from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 26th. Finally, Brean Capital upped their price objective on NuVasive from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Three analysts have rated the stock with a hold rating, eight have given a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $66.36.
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NuVasive (NASDAQ:NUVA) opened at 65.60 on Monday. The company has a market cap of $3.29 billion, a price-to-earnings ratio of 68.05 and a beta of 0.51. The stock has a 50 day moving average price of $66.32 and a 200-day moving average price of $59.20. NuVasive has a 1-year low of $36.81 and a 1-year high of $69.50.
In other NuVasive news, EVP Jason Hannon sold 2,625 shares of the stock in a transaction dated Tuesday, August 23rd. The shares were sold at an average price of $64.80, for a total value of $170,100.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lesley H. Howe sold 3,602 shares of the stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.44, for a total transaction of $224,908.88. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its position in shares of NuVasive by 11.9% in the second quarter. BNP Paribas Arbitrage SA now owns 45,084 shares of the medical device company’s stock worth $2,692,000 after buying an additional 4,782 shares during the period. State Street Corp boosted its position in shares of NuVasive by 1.9% in the first quarter. State Street Corp now owns 1,079,736 shares of the medical device company’s stock worth $52,522,000 after buying an additional 20,644 shares during the period. Hood River Capital Management LLC bought a new position in shares of NuVasive during the second quarter worth about $25,307,000. Nomura Holdings Inc. bought a new position in shares of NuVasive during the second quarter worth about $5,267,000. Finally, Kennedy Capital Management Inc. boosted its position in shares of NuVasive by 2.6% in the first quarter. Kennedy Capital Management Inc. now owns 34,610 shares of the medical device company’s stock worth $1,684,000 after buying an additional 891 shares during the period.
NuVasive Company Profile
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
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