Analysts predict that NuVasive, Inc. (NASDAQ:NUVA) will announce $260.48 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have issued estimates for NuVasive’s earnings, with the lowest sales estimate coming in at $259.30 million and the highest estimate coming in at $261.59 million. NuVasive reported sales of $249.86 million during the same quarter last year, which would suggest a positive year over year growth rate of 4.3%. The business is scheduled to report its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that NuVasive will report full year sales of $260.48 million for the current financial year, with estimates ranging from $1.09 billion to $1.10 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.15 billion per share, with estimates ranging from $1.15 billion to $1.17 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow NuVasive.
NuVasive (NASDAQ:NUVA) last released its earnings results on Monday, February 26th. The medical device company reported $0.56 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.56. NuVasive had a net margin of 8.06% and a return on equity of 13.40%. The company had revenue of $271.70 million for the quarter, compared to the consensus estimate of $272.11 million. During the same quarter in the previous year, the company earned $0.53 EPS. NuVasive’s quarterly revenue was up .2% compared to the same quarter last year.
Several research firms recently weighed in on NUVA. Needham & Company LLC upgraded shares of NuVasive from an “underperform” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Thursday, January 4th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday, December 19th. BidaskClub upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Friday, December 15th. BMO Capital Markets reaffirmed a “buy” rating and issued a $70.00 target price on shares of NuVasive in a research note on Thursday, December 14th. Finally, BTIG Research set a $74.00 target price on shares of NuVasive and gave the stock a “buy” rating in a report on Wednesday, December 13th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. NuVasive presently has a consensus rating of “Buy” and a consensus target price of $68.19.
In other news, CEO Gregory T. Lucier acquired 6,000 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was purchased at an average cost of $48.57 per share, with a total value of $291,420.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 1.20% of the company’s stock.
A number of large investors have recently made changes to their positions in the business. Westside Investment Management Inc. grew its holdings in NuVasive by 76.0% during the 4th quarter. Westside Investment Management Inc. now owns 2,640 shares of the medical device company’s stock valued at $147,000 after buying an additional 1,140 shares during the last quarter. Aperio Group LLC increased its position in shares of NuVasive by 12.3% during the fourth quarter. Aperio Group LLC now owns 11,538 shares of the medical device company’s stock worth $675,000 after acquiring an additional 1,265 shares during the last quarter. Meadow Creek Investment Management LLC increased its position in shares of NuVasive by 22.0% during the fourth quarter. Meadow Creek Investment Management LLC now owns 7,344 shares of the medical device company’s stock worth $429,000 after acquiring an additional 1,326 shares during the last quarter. Advisors Asset Management Inc. increased its position in shares of NuVasive by 6.8% during the third quarter. Advisors Asset Management Inc. now owns 22,927 shares of the medical device company’s stock worth $1,272,000 after acquiring an additional 1,452 shares during the last quarter. Finally, ING Groep NV increased its position in shares of NuVasive by 23.6% during the fourth quarter. ING Groep NV now owns 7,691 shares of the medical device company’s stock worth $450,000 after acquiring an additional 1,469 shares during the last quarter.
NuVasive (NUVA) traded up $1.37 on Wednesday, reaching $52.14. 985,451 shares of the company traded hands, compared to its average volume of 654,445. The company has a market capitalization of $2,602.29, a price-to-earnings ratio of 33.86, a P/E/G ratio of 1.30 and a beta of 0.50. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.94 and a current ratio of 3.48. NuVasive has a one year low of $44.62 and a one year high of $81.68.
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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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