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.
COPYRIGHT VIOLATION WARNING: This news story was originally reported by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this news story on another site, it was illegally copied and republished in violation of international trademark and copyright laws. The correct version of this news story can be read at https://www.dispatchtribunal.com/2018/04/09/zacks-analysts-expect-nuvasive-inc-nuva-will-post-quarterly-sales-of-260-48-million.html.
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.
Get a free copy of the Zacks research report on NuVasive (NUVA)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for NuVasive Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NuVasive and related companies with MarketBeat.com's FREE daily email newsletter.