NuVasive, Inc. (NASDAQ:NUVA) – Jefferies Group cut their FY2020 earnings per share (EPS) estimates for NuVasive in a report issued on Tuesday, Zacks Investment Research reports. Jefferies Group analyst R. Denhoy now expects that the medical device company will post earnings per share of $2.95 for the year, down from their prior estimate of $3.45. Jefferies Group has a “Buy” rating and a $79.00 price target on the stock.
NUVA has been the subject of a number of other reports. Needham & Company LLC reiterated a “hold” rating on shares of NuVasive in a research note on Friday, July 28th. Cowen and Company reissued an “outperform” rating and issued a $83.00 target price on shares of NuVasive in a report on Monday, September 18th. Barclays PLC reaffirmed a “buy” rating and set a $80.00 price target on shares of NuVasive in a report on Wednesday, August 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $75.00 price target on shares of NuVasive in a report on Tuesday, October 10th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $90.00 price target on shares of NuVasive in a report on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $72.33.
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NuVasive (NASDAQ NUVA) opened at $55.32 on Friday. 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 firm has a market capitalization of $2,819.55, a price-to-earnings ratio of 29.27, a P/E/G ratio of 1.97 and a beta of 0.78. NuVasive has a 52-week low of $49.25 and a 52-week high of $81.68.
NuVasive (NASDAQ:NUVA) last announced its earnings results on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The firm had revenue of $247.40 million for the quarter, compared to analysts’ expectations of $255.70 million. During the same quarter in the prior year, the firm earned $0.40 EPS. NuVasive’s quarterly revenue was up 3.3% on a year-over-year basis.
NuVasive announced that its Board of Directors has approved a share repurchase plan on Tuesday, October 24th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the medical device company to buy shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other NuVasive news, CEO Gregory T. Lucier acquired 5,000 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The shares were acquired at an average cost of $66.22 per share, for a total transaction of $331,100.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gregory T. Lucier acquired 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was acquired at an average price of $61.52 per share, for a total transaction of $123,040.00. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in NUVA. UBS Asset Management Americas Inc. raised its holdings in NuVasive by 22.2% in the first quarter. UBS Asset Management Americas Inc. now owns 28,516 shares of the medical device company’s stock worth $2,130,000 after purchasing an additional 5,189 shares during the period. FMR LLC bought a new position in NuVasive in the first quarter valued at $1,049,000. Teachers Advisors LLC grew its position in NuVasive by 205.8% in the first quarter. Teachers Advisors LLC now owns 249,546 shares of the medical device company’s stock valued at $18,636,000 after purchasing an additional 167,950 shares in the last quarter. Legal & General Group Plc grew its position in NuVasive by 24.6% in the first quarter. Legal & General Group Plc now owns 32,249 shares of the medical device company’s stock valued at $2,410,000 after purchasing an additional 6,357 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in 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 acquiring an additional 191,166 shares during the last quarter.
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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