NuVasive, Inc. (NUVA) Issues FY17 Earnings Guidance
NuVasive, Inc. (NASDAQ:NUVA) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.91 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.99. The company issued revenue guidance of $1.030 billion, compared to the consensus revenue estimate of $1.09 billion.
NuVasive, Inc. (NASDAQ:NUVA) traded down 0.69% during mid-day trading on Tuesday, hitting $54.59. 2,037,550 shares of the stock were exchanged. The firm has a 50-day moving average price of $55.81 and a 200-day moving average price of $68.45. NuVasive, Inc. has a 12-month low of $49.25 and a 12-month high of $81.68. The stock has a market capitalization of $2.77 billion, a P/E ratio of 85.97 and a beta of 1.04.
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 business had revenue of $260.60 million during the quarter, compared to analyst estimates of $261.95 million. During the same period in the previous year, the firm earned $0.40 EPS. NuVasive’s quarterly revenue was up 10.3% compared to the same quarter last year. Equities analysts predict that NuVasive, Inc. will post $1.99 earnings per share for the current fiscal year.
Several research firms have commented on NUVA. TheStreet cut NuVasive from a b- rating to a c+ rating in a research note on Friday, October 13th. Barclays PLC cut their target price on NuVasive from $80.00 to $65.00 and set an overweight rating on the stock in a research note on Thursday, October 19th. Gabelli restated a buy rating on shares of NuVasive in a research note on Monday, July 31st. BidaskClub cut NuVasive from a buy rating to a hold rating in a research note on Monday, July 31st. Finally, Needham & Company LLC restated a hold rating on shares of NuVasive in a research note on Friday, July 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $74.62.
In other news, CEO Gregory T. Lucier acquired 5,000 shares of the firm’s stock in a transaction 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 through this link. Also, EVP Peter Michael Leddy acquired 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 disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock worth $955,598 over the last three months. 1.20% of the stock is owned by insiders.
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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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