NuVasive, Inc. (NASDAQ:NUVA) – Analysts at Leerink Swann decreased their FY2017 earnings per share estimates for NuVasive in a report issued on Thursday. Leerink Swann analyst R. Newitter now forecasts that the medical device company will earn $1.94 per share for the year, down from their previous forecast of $1.95. Leerink Swann currently has a “Outperform” rating and a $69.00 target price on the stock. Leerink Swann also issued estimates for NuVasive’s Q4 2017 earnings at $0.66 EPS, FY2018 earnings at $2.37 EPS and FY2019 earnings at $2.95 EPS.

NuVasive (NASDAQ:NUVA) last released its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share 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 company had revenue of $260.60 million for the quarter, compared to analysts’ expectations of $261.95 million. During the same quarter in the previous year, the business posted $0.40 EPS. The business’s revenue for the quarter was up 10.3% on a year-over-year basis.

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Several other brokerages also recently issued reports on NUVA. Morgan Stanley restated an “equal weight” rating and issued a $88.00 price target (up from $84.00) on shares of NuVasive in a report on Tuesday, July 25th. Royal Bank Of Canada restated a “buy” rating and issued a $85.00 price target on shares of NuVasive in a report on Thursday, July 20th. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $84.00 price target on shares of NuVasive in a report on Friday, June 30th. Finally, Needham & Company LLC restated a “hold” rating on shares of NuVasive in a report on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $76.62.

NuVasive (NASDAQ:NUVA) opened at 51.08 on Friday. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68. The stock has a market cap of $2.60 billion, a PE ratio of 80.44 and a beta of 1.03. The firm’s 50-day moving average price is $57.46 and its 200 day moving average price is $69.58.

In related news, EVP Peter Michael Leddy purchased 7,850 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was purchased at an average cost of $63.88 per share, for a total transaction of $501,458.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory T. Lucier purchased 2,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was bought at an average price of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 14,850 shares of company stock valued at $955,598. Corporate insiders own 1.20% of the company’s stock.

A number of hedge funds have recently bought and sold shares of NUVA. Koch Industries Inc. grew its stake in NuVasive by 26,406.7% in the second quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock valued at $970,000 after purchasing an additional 978,631 shares in the last quarter. Voya Investment Management LLC lifted its position in shares of NuVasive by 43.7% in the second quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock valued at $130,761,000 after buying an additional 517,115 shares during the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of NuVasive by 118.7% in the second quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock valued at $42,055,000 after buying an additional 296,715 shares during the last quarter. Wellington Management Group LLP acquired a new stake in shares of NuVasive in the first quarter valued at approximately $20,724,000. Finally, Renaissance Technologies LLC lifted its position in shares of NuVasive by 450.6% in the second quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock valued at $24,221,000 after buying an additional 257,700 shares during the last quarter.

About NuVasive

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.

Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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