NuVasive, Inc. (NASDAQ:NUVA) – Equities researchers at Gabelli cut their FY2017 earnings per share (EPS) estimates for shares of NuVasive in a report issued on Thursday, according to Zacks Investment Research. Gabelli analyst J. Tsai now anticipates that the medical device company will post earnings of $1.90 per share for the year, down from their previous forecast of $2.00. Gabelli has a “Buy” rating on the stock. Gabelli also issued estimates for NuVasive’s FY2018 earnings at $2.30 EPS, FY2019 earnings at $2.60 EPS and FY2020 earnings at $3.00 EPS.
A number of other equities research analysts have also recently issued reports on NUVA. BidaskClub upgraded NuVasive from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Royal Bank of Canada reiterated a “buy” rating and issued a $85.00 target price on shares of NuVasive in a research note on Thursday, July 20th. Morgan Stanley reiterated an “equal weight” rating and issued a $88.00 target price (up from $84.00) on shares of NuVasive in a research note on Tuesday, July 25th. Needham & Company LLC reiterated a “hold” rating on shares of NuVasive in a research note on Friday, July 28th. Finally, Robert W. Baird cut NuVasive from an “outperform” rating to a “neutral” rating and cut their target price for the company from $79.00 to $72.00 in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. NuVasive presently has an average rating of “Buy” and an average target price of $72.33.
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NuVasive (NUVA) traded down $1.41 during mid-day trading on Friday, reaching $55.32. The company’s stock had a trading volume of 546,200 shares, compared to its average volume of 871,446. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.85 and a quick ratio of 1.51. The company has a market capitalization of $2,891.41, a PE ratio of 30.02, a price-to-earnings-growth ratio of 2.02 and a beta of 0.78. NuVasive has a 12 month low of $49.25 and a 12 month high of $81.68.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.04. The firm had revenue of $247.40 million during the quarter, compared to the consensus estimate of $255.70 million. NuVasive had a net margin of 6.36% and a return on equity of 13.65%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share.
Institutional investors have recently made changes to their positions in the company. FNY Partners Fund LP acquired a new stake in shares of NuVasive during the 1st quarter valued at about $112,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of NuVasive by 9.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,901 shares of the medical device company’s stock valued at $146,000 after buying an additional 158 shares during the last quarter. Howard Hughes Medical Institute lifted its holdings in shares of NuVasive by 82.8% during the 2nd quarter. Howard Hughes Medical Institute now owns 2,066 shares of the medical device company’s stock valued at $159,000 after buying an additional 936 shares during the last quarter. Honkamp Krueger Financial Services Inc. acquired a new stake in shares of NuVasive during the 2nd quarter valued at about $201,000. Finally, Shelton Capital Management acquired a new stake in NuVasive in the 2nd quarter worth approximately $221,000.
In other NuVasive news, CEO Gregory T. Lucier bought 5,000 shares of the stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $66.22 per share, with a total value of $331,100.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory T. Lucier bought 2,000 shares of the stock in a transaction on Tuesday, August 29th. The shares were acquired 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 own 1.20% of the company’s stock.
NuVasive announced that its board has authorized a stock buyback program on Tuesday, October 24th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the medical device company to purchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its shares are undervalued.
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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