Research Analysts Issue Forecasts for NuVasive, Inc.’s Q1 2018 Earnings (NUVA)

NuVasive, Inc. (NASDAQ:NUVA) – Equities research analysts at Leerink Swann dropped their Q1 2018 earnings estimates for shares of NuVasive in a report issued on Friday. Leerink Swann analyst R. Newitter now expects that the medical device company will post earnings per share of $0.38 for the quarter, down from their prior estimate of $0.41. Leerink Swann currently has a “Outperform” rating and a $69.00 target price on the stock.

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

A number of other research analysts have also issued reports on the stock. Wells Fargo & Co lowered shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $65.00 price objective for the company. in a report on Wednesday, January 17th. BidaskClub lowered shares of NuVasive from a “sell” rating to a “strong sell” rating in a report on Thursday, January 11th. Piper Jaffray Companies reiterated a “buy” rating and issued a $90.00 price objective on shares of NuVasive in a report on Tuesday, January 9th. Needham & Company LLC upgraded shares of NuVasive from an “underperform” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Thursday, January 4th. Finally, Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a report on Tuesday, December 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. NuVasive currently has a consensus rating of “Buy” and an average target price of $72.33.

NuVasive (NASDAQ NUVA) opened at $52.08 on Monday. The stock has a market cap of $2,654.41, a P/E ratio of 43.76, a P/E/G ratio of 1.49 and a beta of 0.77. NuVasive has a fifty-two week low of $48.41 and a fifty-two week high of $81.68. The company has a quick ratio of 1.51, a current ratio of 2.85 and a debt-to-equity ratio of 0.76.

Institutional investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of NuVasive during the 2nd quarter worth approximately $317,000. Alliancebernstein L.P. grew its position in shares of NuVasive by 1.2% during the 2nd quarter. Alliancebernstein L.P. now owns 83,185 shares of the medical device company’s stock worth $6,399,000 after buying an additional 1,010 shares during the period. Riverhead Capital Management LLC grew its position in shares of NuVasive by 65.1% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,963 shares of the medical device company’s stock worth $305,000 after buying an additional 1,563 shares during the period. Ameriprise Financial Inc. grew its position in shares of NuVasive by 5.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 145,516 shares of the medical device company’s stock worth $11,193,000 after buying an additional 6,880 shares during the period. Finally, Amalgamated Bank grew its position in shares of NuVasive by 7.1% during the 2nd quarter. Amalgamated Bank now owns 7,303 shares of the medical device company’s stock worth $562,000 after buying an additional 483 shares during the period.

NuVasive announced that its Board of Directors has approved a stock repurchase program on Tuesday, October 24th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the medical device company to buy shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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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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