Zacks: Brokerages Expect NuVasive, Inc. (NUVA) to Announce $0.49 Earnings Per Share
Equities analysts expect NuVasive, Inc. (NASDAQ:NUVA) to report earnings per share (EPS) of $0.49 for the current quarter, Zacks reports. Five analysts have made estimates for NuVasive’s earnings. The lowest EPS estimate is $0.44 and the highest is $0.54. NuVasive reported earnings of $0.40 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.5%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, October 24th.
On average, analysts expect that NuVasive will report full-year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.05. For the next fiscal year, analysts forecast that the company will report earnings of $2.44 per share, with EPS estimates ranging from $2.40 to $2.55. Zacks’ EPS calculations are an average based on a survey of research analysts that cover NuVasive.
NuVasive (NASDAQ:NUVA) last issued its quarterly earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating the Zacks’ 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 business had revenue of $260.60 million during the quarter, compared to the consensus estimate of $261.95 million. During the same period in the previous year, the business earned $0.40 EPS. The business’s quarterly revenue was up 10.3% on a year-over-year basis.
Several research firms have recently issued reports on NUVA. Royal Bank Of Canada restated a “buy” rating and set a $85.00 price objective on shares of NuVasive in a report on Thursday, July 20th. BidaskClub upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $84.00 target price on shares of NuVasive in a research note on Friday, June 30th. Canaccord Genuity reiterated a “buy” rating and issued a $80.00 target price on shares of NuVasive in a research note on Friday, July 28th. Finally, Gabelli reissued a “buy” rating on shares of NuVasive in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $79.92.
In other NuVasive news, CEO Gregory T. Lucier purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were acquired at an average cost of $61.52 per share, for a total transaction of $123,040.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Gregory T. Lucier purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average price of $66.22 per share, for a total transaction of $331,100.00. The disclosure for this purchase can be found here. Insiders have acquired 14,850 shares of company stock worth $955,598 over the last ninety days. Insiders own 1.20% of the company’s stock.
A number of institutional investors have recently bought and sold shares of NUVA. FNY Partners Fund LP bought a new stake in shares of NuVasive during the first quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of NuVasive by 9.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after buying an additional 158 shares during the last quarter. Howard Hughes Medical Institute raised its holdings in shares of NuVasive by 82.8% in the second quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after buying an additional 936 shares during the last quarter. US Bancorp DE raised its holdings in shares of NuVasive by 1.7% in the first quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock valued at $180,000 after buying an additional 41 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. bought a new position in shares of NuVasive in the second quarter valued at about $201,000.
Shares of NuVasive (NASDAQ:NUVA) opened at 54.44 on Wednesday. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 85.73 and a beta of 1.03. The company’s 50 day moving average price is $59.73 and its 200 day moving average price is $70.55. NuVasive has a 52-week low of $52.85 and a 52-week high of $81.68.
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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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