Analysts Offer Predictions for NuVasive Inc.’s FY2018 Earnings (NUVA)
NuVasive Inc. (NASDAQ:NUVA) – Investment analysts at Leerink Swann upped their FY2018 earnings per share estimates for shares of NuVasive in a research note issued on Friday. Leerink Swann analyst R. Newitter now anticipates that the brokerage will post earnings per share of $2.80 for the year, up from their previous estimate of $2.52.
Several other brokerages also recently issued reports on NUVA. Jefferies Group upped their price objective on shares of NuVasive from $63.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, July 27th. JPMorgan Chase & Co. raised shares of NuVasive from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $55.00 to $74.00 in a research report on Wednesday, July 13th. TheStreet raised shares of NuVasive from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 26th. Barclays PLC upped their price target on shares of NuVasive from $63.00 to $71.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 27th. Finally, Zacks Investment Research raised shares of NuVasive from a “hold” rating to a “strong-buy” rating and set a $70.00 price target for the company in a research report on Thursday, July 28th. Three equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the stock. NuVasive currently has a consensus rating of “Buy” and a consensus target price of $66.36.
NuVasive (NASDAQ:NUVA) traded down 0.47% during midday trading on Monday, hitting $67.33. 399,161 shares of the stock traded hands. NuVasive has a one year low of $36.81 and a one year high of $69.50. The company’s 50-day moving average is $66.46 and its 200-day moving average is $59.62. The company has a market cap of $3.38 billion, a PE ratio of 69.84 and a beta of 0.51.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, July 26th. The medical device company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The business earned $236.50 million during the quarter, compared to analysts’ expectations of $232.86 million. NuVasive had a net margin of 5.28% and a return on equity of 10.57%. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.31 EPS.
In other NuVasive news, EVP Jason Hannon sold 2,625 shares of the stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $64.80, for a total transaction of $170,100.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Lesley H. Howe sold 3,602 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $62.44, for a total transaction of $224,908.88. The disclosure for this sale can be found here. 4.70% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of NUVA. Victory Capital Management Inc. increased its position in NuVasive by 77.1% in the second quarter. Victory Capital Management Inc. now owns 1,884 shares of the medical device company’s stock worth $113,000 after buying an additional 820 shares during the period. Fortaleza Asset Management Inc. bought a new position in NuVasive during the second quarter worth approximately $115,000. LS Investment Advisors LLC increased its position in NuVasive by 7.8% in the second quarter. LS Investment Advisors LLC now owns 2,097 shares of the medical device company’s stock worth $125,000 after buying an additional 151 shares during the period. Seven Eight Capital LLC bought a new position in NuVasive during the first quarter worth approximately $117,000. Finally, Smith Asset Management Group LP increased its position in NuVasive by 7,796.8% in the second quarter. Smith Asset Management Group LP now owns 2,448 shares of the medical device company’s stock worth $146,000 after buying an additional 2,417 shares during the period.
NuVasive Company Profile
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
Receive News & Ratings for NuVasive Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive Inc. and related companies with MarketBeat.com's FREE daily email newsletter.