NuVasive, Inc. (NUVA) Expected to Post Earnings of $0.49 Per Share
Analysts forecast that NuVasive, Inc. (NASDAQ:NUVA) will report $0.49 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for NuVasive’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.54. NuVasive posted earnings per share of $0.40 in the same quarter last year, which indicates a positive year over year growth rate of 22.5%. The firm is expected to report its next quarterly earnings report after the market closes on Tuesday, October 24th.
According to Zacks, analysts expect that NuVasive will report full-year earnings of $1.99 per share for the current year, with EPS estimates ranging from $1.90 to $2.05. For the next fiscal year, analysts anticipate that the business will report earnings of $2.40 per share, with EPS estimates ranging from $2.29 to $2.55. Zacks’ earnings per share averages are an average based on a survey of research firms that follow NuVasive.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.02. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company had revenue of $260.60 million during the quarter, compared to analysts’ expectations of $261.95 million. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis.
A number of equities analysts have commented on NUVA shares. Cowen and Company restated an “outperform” rating and set a $90.00 price objective (up previously from $85.00) on shares of NuVasive in a research report on Wednesday, June 28th. Robert W. Baird downgraded shares of NuVasive from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $79.00 to $72.00 in a research report on Friday, July 28th. Gabelli restated a “buy” rating on shares of NuVasive in a research report on Monday, July 31st. Royal Bank Of Canada restated a “buy” rating and set a $85.00 price objective on shares of NuVasive in a research report on Thursday, July 20th. Finally, Zacks Investment Research downgraded shares of NuVasive from a “buy” rating to a “hold” rating 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 issued a buy rating to the company’s stock. NuVasive presently has a consensus rating of “Buy” and a consensus price target of $74.62.
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NuVasive (NASDAQ:NUVA) traded up 0.88% on Friday, reaching $55.05. 965,396 shares of the company’s stock were exchanged. The company has a market capitalization of $2.80 billion, a P/E ratio of 86.69 and a beta of 1.03. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68. The firm has a 50-day moving average price of $56.02 and a 200-day moving average price of $68.65.
In other NuVasive news, CEO Gregory T. Lucier acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were purchased at an average cost of $66.22 per share, with a total value of $331,100.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory T. Lucier acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average cost of $61.52 per share, for a total transaction of $123,040.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 14,850 shares of company stock worth $955,598. 1.20% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Hanseatic Management Services Inc. grew its stake in NuVasive by 0.3% in the 2nd quarter. Hanseatic Management Services Inc. now owns 14,868 shares of the medical device company’s stock valued at $1,144,000 after acquiring an additional 39 shares during the last quarter. Teacher Retirement System of Texas grew its stake in NuVasive by 1.0% in the 2nd quarter. Teacher Retirement System of Texas now owns 4,040 shares of the medical device company’s stock valued at $311,000 after acquiring an additional 40 shares during the last quarter. World Asset Management Inc grew its stake in NuVasive by 2.7% in the 2nd quarter. World Asset Management Inc now owns 3,201 shares of the medical device company’s stock valued at $246,000 after acquiring an additional 84 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after acquiring an additional 158 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. grew its stake in NuVasive by 4.9% in the 2nd quarter. Campbell Newman Asset Management Inc. now owns 3,628 shares of the medical device company’s stock valued at $279,000 after acquiring an additional 169 shares during 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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