NuVasive, Inc. (NUVA) Releases Quarterly Earnings Results, Beats Expectations By $0.04 EPS
NuVasive, Inc. (NASDAQ:NUVA) released its quarterly earnings results on Monday. The medical device company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04, Bloomberg Earnings reports. The business had revenue of $247.40 million for the quarter, compared to analyst estimates of $255.70 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 earnings per share.
Shares of NuVasive (NASDAQ NUVA) traded down 0.69% during trading on Tuesday, hitting $54.59. 2,074,046 shares of the company’s stock were exchanged. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68. The firm has a market capitalization of $2.77 billion, a PE ratio of 85.97 and a beta of 1.04. The stock’s 50 day moving average is $55.77 and its 200 day moving average is $68.32.
Several analysts have recently commented on the stock. Barclays PLC lowered their price target on shares of NuVasive from $80.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, October 19th. TheStreet lowered shares of NuVasive from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Robert W. Baird set a $60.00 price target on shares of NuVasive and gave the company a “hold” rating in a research report on Thursday, October 12th. Cowen and Company set a $72.00 price target on shares of NuVasive and gave the company a “buy” rating in a research report on Thursday, October 12th. Finally, Leerink Swann reiterated an “outperform” rating and issued a $69.00 price target (down from $74.00) on shares of NuVasive in a research report on Thursday, October 12th. 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 company. The company currently has a consensus rating of “Buy” and a consensus price target of $74.62.
In other NuVasive news, EVP Peter Michael Leddy bought 7,850 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was bought at an average cost of $63.88 per share, with a total value of $501,458.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Gregory T. Lucier bought 2,000 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was acquired at an average cost of $61.52 per share, with a total value of $123,040.00. The disclosure for this purchase can be found here. Insiders acquired 14,850 shares of company stock valued at $955,598 over the last three months. Insiders own 1.20% of the company’s stock.
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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