NuVasive, Inc. (NASDAQ:NUVA) Releases FY17 Earnings Guidance
NuVasive, Inc. (NASDAQ:NUVA) issued an update on its FY17 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.00 for the period, compared to the Thomson Reuters consensus estimate of $2.01. The company issued revenue guidance of $1.065 billion, compared to the consensus revenue estimate of $1.07 billion.
NuVasive, Inc. (NUVA) traded down 3.22% on Thursday, hitting $76.90. 1,792,588 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $77.98 and its 200-day moving average price is $74.45. The company has a market cap of $3.90 billion, a PE ratio of 80.69 and a beta of 1.08. NuVasive, Inc. has a 12-month low of $56.70 and a 12-month high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.02. The company had revenue of $260.60 million during the quarter, compared to the consensus estimate of $261.95 million. NuVasive had a net margin of 5.35% and a return on equity of 12.63%. NuVasive’s quarterly revenue was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS. Analysts forecast that NuVasive, Inc. will post $2.01 earnings per share for the current year.
A number of equities analysts have commented on the stock. BidaskClub upgraded shares of NuVasive from a hold rating to a buy rating in a research report on Wednesday, July 19th. Morgan Stanley reaffirmed an equal weight rating and set a $88.00 price target (up from $84.00) on shares of NuVasive in a research note on Tuesday. Royal Bank Of Canada reaffirmed a buy rating and set a $85.00 price target on shares of NuVasive in a research note on Thursday, July 20th. Piper Jaffray Companies reaffirmed an overweight rating and set a $90.00 price target on shares of NuVasive in a research note on Wednesday, July 5th. Finally, Cowen and Company reaffirmed an outperform rating and set a $85.00 price target on shares of NuVasive in a research note on Monday, May 15th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $81.58.
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Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.
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