William Blair Weighs in on NuVasive, Inc.’s Q4 2017 Earnings (NUVA)
NuVasive, Inc. (NASDAQ:NUVA) – Investment analysts at William Blair raised their Q4 2017 earnings estimates for NuVasive in a research report issued on Wednesday. William Blair analyst K. Krum now expects that the medical device company will earn $0.66 per share for the quarter, up from their prior forecast of $0.63. William Blair also issued estimates for NuVasive’s Q1 2018 earnings at $0.57 EPS and Q4 2018 earnings at $0.69 EPS.
A number of other research analysts have also recently commented on the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $75.00 target price on shares of NuVasive in a research report on Friday, September 8th. BTIG Research started coverage on NuVasive in a research report on Thursday, September 7th. They set a “buy” rating and a $82.00 target price for the company. Needham & Company LLC lowered NuVasive from a “hold” rating to an “underperform” rating in a research report on Monday, August 28th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $90.00 target price on shares of NuVasive in a research report on Wednesday, August 9th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $80.00 target price on shares of NuVasive in a research report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. NuVasive currently has a consensus rating of “Buy” and an average price target of $80.42.
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Shares of NuVasive (NASDAQ:NUVA) opened at 58.44 on Thursday. NuVasive has a 52 week low of $56.70 and a 52 week high of $81.68. The firm has a market capitalization of $2.97 billion, a PE ratio of 92.03 and a beta of 1.08. The company’s 50 day moving average price is $64.95 and its 200-day moving average price is $72.64.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.02. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The firm had revenue of $260.60 million during the quarter, compared to the consensus estimate of $261.95 million. During the same quarter in the previous year, the company posted $0.40 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year.
In related news, CEO Gregory T. Lucier purchased 2,000 shares of the business’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average price of $61.52 per share, for a total transaction of $123,040.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lesley H. Howe sold 3,970 shares of NuVasive stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $64.64, for a total value of $256,620.80. The disclosure for this sale can be found here. Insiders have acquired a total of 14,850 shares of company stock valued at $955,598 in the last quarter. Company insiders own 1.20% of the company’s stock.
Several institutional investors have recently bought and sold shares of NUVA. Koch Industries Inc. lifted its position in shares of NuVasive by 26,406.7% during the 2nd quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after buying an additional 978,631 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of NuVasive by 43.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after buying an additional 517,115 shares in the last quarter. OppenheimerFunds Inc. lifted its position in shares of NuVasive by 55.8% during the 1st quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock worth $90,438,000 after buying an additional 433,506 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of NuVasive by 118.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after buying an additional 296,715 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of NuVasive by 70.8% during the 1st quarter. Victory Capital Management Inc. now owns 715,321 shares of the medical device company’s stock worth $53,420,000 after buying an additional 296,568 shares in the last quarter.
NuVasive Company Profile
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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