NuVasive, Inc. (NASDAQ:NUVA) Expected to Announce Earnings of $0.50 Per Share
Analysts expect that NuVasive, Inc. (NASDAQ:NUVA) will report $0.50 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have made estimates for NuVasive’s earnings, with the lowest EPS estimate coming in at $0.46 and the highest estimate coming in at $0.54. NuVasive reported earnings of $0.40 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 25%. The firm is expected to announce its next quarterly earnings results on Tuesday, October 24th.
According to Zacks, analysts expect that NuVasive will report full year earnings of $2.00 per share for the current fiscal year, with EPS estimates ranging from $1.99 to $2.05. For the next financial year, analysts forecast that the business will report earnings of $2.46 per share, with EPS estimates ranging from $2.40 to $2.55. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover NuVasive.
NuVasive (NASDAQ:NUVA) last announced its earnings results on Thursday, July 27th. The medical device company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The company had revenue of $260.60 million for the quarter, compared to analyst estimates of $261.95 million. During the same period in the prior year, the company posted $0.40 EPS. NuVasive’s quarterly revenue was up 10.3% on a year-over-year basis.
NUVA has been the topic of a number of analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $84.00 price target on shares of NuVasive in a research report on Friday, June 30th. Cowen and Company reissued an “outperform” rating and set a $85.00 price target on shares of NuVasive in a research report on Monday, May 15th. Royal Bank Of Canada reissued a “buy” rating and set a $85.00 price target on shares of NuVasive in a research report on Thursday, July 20th. TheStreet raised NuVasive from a “c+” rating to a “b” rating in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research raised NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday, July 4th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. NuVasive presently has an average rating of “Buy” and an average price target of $81.18.
In other news, EVP Peter Michael Leddy purchased 7,850 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was bought at an average cost of $63.88 per share, for a total transaction of $501,458.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.70% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of NuVasive by 4.9% in the first quarter. Vanguard Group Inc. now owns 4,110,457 shares of the medical device company’s stock valued at $306,969,000 after buying an additional 191,166 shares in the last quarter. Champlain Investment Partners LLC raised its position in shares of NuVasive by 2.3% in the first quarter. Champlain Investment Partners LLC now owns 1,908,280 shares of the medical device company’s stock valued at $142,510,000 after buying an additional 42,395 shares in the last quarter. State Street Corp raised its position in shares of NuVasive by 2.5% in the first quarter. State Street Corp now owns 1,641,997 shares of the medical device company’s stock valued at $122,617,000 after buying an additional 40,416 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of NuVasive by 10.4% in the first quarter. Eagle Asset Management Inc. now owns 1,428,644 shares of the medical device company’s stock valued at $106,691,000 after buying an additional 134,729 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in shares of NuVasive by 55.8% in the first quarter. OppenheimerFunds Inc. now owns 1,210,999 shares of the medical device company’s stock valued at $90,438,000 after buying an additional 433,506 shares in the last quarter.
Shares of NuVasive (NUVA) traded down 0.83% during trading on Wednesday, hitting $63.27. The company’s stock had a trading volume of 329,095 shares. The firm’s 50 day moving average is $76.85 and its 200-day moving average is $74.43. The company has a market capitalization of $3.21 billion, a P/E ratio of 99.64 and a beta of 1.06. NuVasive has a 1-year low of $56.70 and a 1-year high of $81.68.
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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