Equities Analysts Offer Predictions for NuVasive, Inc.’s FY2017 Earnings (NUVA)
NuVasive, Inc. (NASDAQ:NUVA) – Investment analysts at Leerink Swann cut their FY2017 EPS estimates for shares of NuVasive in a research report issued on Thursday. Leerink Swann analyst R. Newitter now anticipates that the medical device company will earn $1.94 per share for the year, down from their prior estimate of $1.95. Leerink Swann currently has a “Outperform” rating and a $69.00 price target on the stock. Leerink Swann also issued estimates for NuVasive’s Q4 2017 earnings at $0.66 EPS, FY2018 earnings at $2.37 EPS and FY2019 earnings at $2.95 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, topping the Zacks’ consensus estimate of $0.44 by $0.02. The business had revenue of $260.60 million during the quarter, compared to the consensus estimate of $261.95 million. NuVasive had a return on equity of 13.04% and a net margin of 3.50%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. WARNING: This piece was first published by Daily Political and is owned by of Daily Political. If you are accessing this piece on another domain, it was illegally stolen and republished in violation of United States and international copyright & trademark laws. The original version of this piece can be viewed at https://www.dailypolitical.com/2017/10/14/equities-analysts-offer-predictions-for-nuvasive-inc-s-fy2017-earnings-nuva.html.
NUVA has been the subject of several other research reports. Royal Bank of Canada reiterated a “buy” rating and issued a $75.00 target price on shares of NuVasive in a research report on Tuesday, October 10th. Morgan Stanley reiterated an “equal weight” rating and issued a $88.00 target price (up previously from $84.00) on shares of NuVasive in a research report on Tuesday, July 25th. Needham & Company LLC lowered NuVasive from a “hold” rating to an “underperform” rating in a research report on Monday, August 28th. BTIG Research reiterated a “buy” rating and issued a $74.00 target price (down previously from $82.00) on shares of NuVasive in a research report on Wednesday, October 4th. Finally, Piper Jaffray Companies reiterated a “buy” rating and issued a $90.00 target price on shares of NuVasive in a research report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. NuVasive has a consensus rating of “Buy” and an average target price of $76.62.
NuVasive (NASDAQ:NUVA) opened at 50.82 on Friday. The firm has a market capitalization of $2.58 billion, a P/E ratio of 80.03 and a beta of 1.03. NuVasive has a one year low of $49.25 and a one year high of $81.68. The company has a 50-day moving average price of $57.00 and a 200-day moving average price of $69.36.
Several institutional investors and hedge funds have recently bought and sold shares of NUVA. FNY Partners Fund LP bought a new stake in shares of NuVasive in the 1st quarter worth $112,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NuVasive by 9.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock worth $146,000 after buying an additional 158 shares in the last quarter. Howard Hughes Medical Institute raised its stake in shares of NuVasive by 82.8% in the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock worth $159,000 after buying an additional 936 shares in the last quarter. US Bancorp DE raised its stake in shares of NuVasive by 1.7% in the 1st quarter. US Bancorp DE now owns 2,401 shares of the medical device company’s stock worth $180,000 after buying an additional 41 shares in the last quarter. Finally, Honkamp Krueger Financial Services Inc. bought a new stake in shares of NuVasive in the 2nd quarter worth $201,000.
In other news, EVP Peter Michael Leddy acquired 7,850 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were bought at an average price of $63.88 per share, with a total value of $501,458.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gregory T. Lucier acquired 2,000 shares of the company’s stock in a transaction dated Tuesday, August 29th. The stock was purchased 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 bought a total of 14,850 shares of company stock worth $955,598 in the last three months. Company insiders own 1.20% of the company’s stock.
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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