NuVasive, Inc. (NASDAQ:NUVA) – Investment analysts at Gabelli dropped their FY2021 earnings per share estimates for NuVasive in a report released on Thursday. Gabelli analyst J. Tsai now expects that the medical device company will post earnings of $3.30 per share for the year, down from their previous forecast of $4.00. Gabelli has a “Buy” rating on the stock.

NUVA has been the topic of a number of other research reports. Needham & Company LLC restated a “hold” rating on shares of NuVasive in a report on Friday, July 28th. Cowen and Company restated an “outperform” rating and set a $83.00 target price on shares of NuVasive in a report on Monday, September 18th. Barclays PLC restated a “buy” rating and set a $80.00 target price on shares of NuVasive in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “buy” rating and set a $75.00 target price on shares of NuVasive in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies restated an “overweight” rating and set a $90.00 target price on shares of NuVasive in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $72.67.

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NuVasive (NUVA) traded down 3.11% on Monday, hitting $56.61. 488,787 shares of the company’s stock were exchanged. The stock has a market cap of $2.88 billion, a P/E ratio of 89.15 and a beta of 1.04. The firm has a 50 day moving average price of $55.58 and a 200-day moving average price of $68.08. NuVasive has a 52-week low of $49.25 and a 52-week high of $81.68.

NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. The firm had revenue of $247.40 million for the quarter, compared to analyst estimates of $255.70 million. During the same period last year, the firm earned $0.40 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year.

NuVasive announced that its board has approved a stock buyback plan on Tuesday, October 24th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the medical device company to buy shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

In related news, CEO Gregory T. Lucier bought 5,000 shares of the stock in a transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Peter Michael Leddy bought 7,850 shares of the stock in a transaction on Tuesday, August 1st. The shares were bought at an average price of $63.88 per share, for a total transaction of $501,458.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 14,850 shares of company stock worth $955,598 in the last 90 days. Company insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hanseatic Management Services Inc. lifted its stake in NuVasive by 0.3% during 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 period. Teacher Retirement System of Texas lifted its stake in NuVasive by 1.0% during 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 period. World Asset Management Inc lifted its stake in NuVasive by 2.7% during 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 period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of NuVasive by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after purchasing an additional 158 shares during the last quarter. Finally, Campbell Newman Asset Management Inc. increased its position in shares of NuVasive by 4.9% during 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 purchasing an additional 169 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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