Q3 2017 Earnings Estimate for NuVasive, Inc. Issued By Leerink Swann (NUVA)
NuVasive, Inc. (NASDAQ:NUVA) – Equities research analysts at Leerink Swann decreased their Q3 2017 EPS estimates for NuVasive in a research report issued on Wednesday. Leerink Swann analyst R. Newitter now expects that the medical device company will earn $0.44 per share for the quarter, down from their prior estimate of $0.47. Leerink Swann currently has a “Buy” rating and a $74.00 target price on the stock. Leerink Swann also issued estimates for NuVasive’s Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $1.95 EPS, Q1 2018 earnings at $0.45 EPS, Q2 2018 earnings at $0.58 EPS, Q3 2018 earnings at $0.64 EPS, Q4 2018 earnings at $0.78 EPS, FY2018 earnings at $2.45 EPS and FY2019 earnings at $3.04 EPS.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Thursday, July 27th. The medical device company reported $0.46 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million during the quarter, compared to analyst estimates of $261.95 million. NuVasive had a net margin of 3.50% and a return on equity of 13.04%. The firm’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.40 earnings per share. TRADEMARK VIOLATION WARNING: This piece of content was reported by Daily Political and is the property of of Daily Political. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/09/23/q3-2017-earnings-estimate-for-nuvasive-inc-issued-by-leerink-swann-nuva.html.
Several other analysts have also recently weighed in on the stock. Gabelli reiterated a “buy” rating on shares of NuVasive in a research note on Thursday. Cowen and Company reiterated an “outperform” rating and issued a $83.00 price objective on shares of NuVasive in a research note on Monday, September 18th. Royal Bank Of Canada reiterated a “buy” rating and issued a $75.00 price objective on shares of NuVasive in a research note on Friday, September 8th. BTIG Research started coverage on shares of NuVasive in a research note on Thursday, September 7th. They issued a “buy” rating and a $82.00 price objective for the company. Finally, Needham & Company LLC cut shares of NuVasive from a “hold” rating to an “underperform” rating in a research report on Monday, August 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. NuVasive currently has an average rating of “Buy” and an average target price of $79.92.
NuVasive (NASDAQ:NUVA) opened at 54.25 on Thursday. The stock’s 50 day moving average is $62.55 and its 200-day moving average is $71.98. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 85.43 and a beta of 1.08. NuVasive has a 12 month low of $52.85 and a 12 month high of $81.68.
In related news, CEO Gregory T. Lucier purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average cost of $66.22 per share, with a total value of $331,100.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gregory T. Lucier purchased 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The shares were bought at an average cost of $61.52 per share, for a total transaction of $123,040.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 14,850 shares of company stock worth $955,598 over the last ninety days. 1.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. First Trust Advisors LP grew its holdings in NuVasive by 17.7% during the 2nd quarter. First Trust Advisors LP now owns 36,597 shares of the medical device company’s stock worth $2,815,000 after acquiring an additional 5,510 shares during the last quarter. Bank of Montreal Can grew its holdings in NuVasive by 23.6% during the 2nd quarter. Bank of Montreal Can now owns 5,680 shares of the medical device company’s stock worth $437,000 after acquiring an additional 1,086 shares during the last quarter. Teachers Advisors LLC grew its holdings in NuVasive by 205.8% during the 1st quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock worth $18,636,000 after acquiring an additional 167,950 shares during the last quarter. Neuberger Berman Group LLC grew its holdings in NuVasive by 8.9% during the 2nd quarter. Neuberger Berman Group LLC now owns 439,121 shares of the medical device company’s stock worth $33,777,000 after acquiring an additional 35,866 shares during the last quarter. Finally, Geneva Advisors LLC grew its holdings in NuVasive by 3.3% during the 2nd quarter. Geneva Advisors LLC now owns 17,369 shares of the medical device company’s stock worth $1,336,000 after acquiring an additional 555 shares during the last quarter.
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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