Brokerages expect that NuVasive, Inc. (NASDAQ:NUVA) will announce earnings of $0.56 per share for the current quarter, Zacks reports. Six analysts have made estimates for NuVasive’s earnings, with the highest EPS estimate coming in at $0.60 and the lowest estimate coming in at $0.55. NuVasive reported earnings of $0.53 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 5.7%. The business is expected to report its next quarterly earnings results on Thursday, February 8th.
On average, analysts expect that NuVasive will report full year earnings of $1.91 per share for the current year, with EPS estimates ranging from $1.90 to $1.96. For the next year, analysts forecast that the business will post earnings of $2.26 per share, with EPS estimates ranging from $2.19 to $2.38. Zacks’ EPS averages are an average based on a survey of research analysts that cover NuVasive.
NuVasive (NASDAQ:NUVA) last announced its quarterly earnings data on Tuesday, October 24th. The medical device company reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.04. The company 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%. NuVasive’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 EPS.
A number of brokerages have commented on NUVA. Gabelli restated a “buy” rating on shares of NuVasive in a research report on Monday, July 31st. BidaskClub downgraded shares of NuVasive from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. TheStreet downgraded shares of NuVasive from a “b-” rating to a “c+” rating in a research report on Friday, October 13th. Needham & Company LLC restated a “hold” rating on shares of NuVasive in a research report on Friday, July 28th. Finally, Piper Jaffray Companies restated a “buy” rating and set a $90.00 price objective on shares of NuVasive in a research report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $72.33.
Shares of NuVasive (NUVA) traded down $0.59 during trading on Friday, reaching $55.70. 405,000 shares of the company’s stock were exchanged, compared to its average volume of 865,292. The stock has a market cap of $2,879.18, a P/E ratio of 29.89, a P/E/G ratio of 2.01 and a beta of 0.78. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.51 and a current ratio of 2.85. NuVasive has a 52 week low of $49.25 and a 52 week high of $81.68.
NuVasive announced that its Board of Directors has approved a share buyback plan on Tuesday, October 24th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the medical device company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
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In other NuVasive news, CEO Gregory T. Lucier acquired 2,000 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were purchased at an average cost of $61.52 per share, with a total value of $123,040.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Gregory T. Lucier acquired 5,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The stock was acquired at an average cost of $66.22 per share, for a total transaction of $331,100.00. 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 modified their holdings of the stock. Koch Industries Inc. boosted its stake in shares of NuVasive by 26,406.7% during the 2nd quarter. Koch Industries Inc. now owns 982,337 shares of the medical device company’s stock worth $970,000 after purchasing an additional 978,631 shares during the last quarter. Voya Investment Management LLC boosted its stake in shares of NuVasive by 43.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after purchasing an additional 517,115 shares during the last quarter. TIAA CREF Investment Management LLC boosted its stake in shares of NuVasive by 118.7% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 546,740 shares of the medical device company’s stock worth $42,055,000 after purchasing an additional 296,715 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of NuVasive by 450.6% during the 2nd quarter. Renaissance Technologies LLC now owns 314,888 shares of the medical device company’s stock worth $24,221,000 after purchasing an additional 257,700 shares during the last quarter. Finally, Alyeska Investment Group L.P. boosted its stake in shares of NuVasive by 13.7% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,559,940 shares of the medical device company’s stock worth $86,514,000 after purchasing an additional 187,863 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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