Zacks: Brokerages Anticipate NuVasive, Inc. (NUVA) to Announce $0.56 Earnings Per Share

Wall Street analysts forecast that NuVasive, Inc. (NASDAQ:NUVA) will report earnings per share (EPS) of $0.56 for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for NuVasive’s earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.56. NuVasive reported earnings per share of $0.53 in the same quarter last year, which suggests a positive year over year growth rate of 5.7%. The business is expected to issue its next earnings results on Thursday, February 8th.

On average, analysts expect that NuVasive will report full year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.92. For the next financial year, analysts anticipate that the business will post earnings of $2.33 per share, with EPS estimates ranging from $2.19 to $2.58. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow NuVasive.

NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.04. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. The business had revenue of $247.40 million during the quarter, compared to analyst estimates of $255.70 million. During the same period in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis.

NUVA has been the subject of several research reports. Royal Bank of Canada decreased their price target on shares of NuVasive from $75.00 to $70.00 and set an “outperform” rating for the company in a report on Friday, November 10th. Cowen set a $72.00 price target on shares of NuVasive and gave the company a “buy” rating in a report on Thursday, October 12th. Robert W. Baird set a $60.00 price target on shares of NuVasive and gave the company a “hold” rating in a report on Thursday, October 12th. Jefferies Group reaffirmed a “buy” rating and issued a $79.00 price target on shares of NuVasive in a report on Tuesday, October 3rd. Finally, Needham & Company LLC reaffirmed a “sell” rating on shares of NuVasive in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $72.33.

A number of large investors have recently modified their holdings of NUVA. Schwab Charles Investment Management Inc. lifted its position in NuVasive by 11.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 234,544 shares of the medical device company’s stock valued at $18,042,000 after purchasing an additional 23,280 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in NuVasive in the 2nd quarter valued at about $317,000. Alliancebernstein L.P. lifted its position in NuVasive by 1.2% in the 2nd quarter. Alliancebernstein L.P. now owns 83,185 shares of the medical device company’s stock valued at $6,399,000 after purchasing an additional 1,010 shares during the last quarter. Riverhead Capital Management LLC lifted its position in NuVasive by 65.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 3,963 shares of the medical device company’s stock valued at $305,000 after purchasing an additional 1,563 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in NuVasive by 24.3% in the 2nd quarter. Teachers Advisors LLC now owns 310,255 shares of the medical device company’s stock valued at $23,865,000 after purchasing an additional 60,709 shares during the last quarter.

NuVasive (NASDAQ:NUVA) opened at $52.08 on Friday. NuVasive has a fifty-two week low of $48.41 and a fifty-two week high of $81.68. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. The company has a market cap of $2,588.66, a PE ratio of 43.76, a PEG ratio of 1.45 and a beta of 0.77.

NuVasive announced that its Board of Directors has authorized a stock buyback plan on Tuesday, October 24th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the medical device company to purchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

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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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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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