Wall Street analysts expect that NuVasive, Inc. (NASDAQ:NUVA) will report sales of $276.05 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for NuVasive’s earnings. The highest sales estimate is $277.85 million and the lowest is $274.30 million. NuVasive posted sales of $260.57 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.9%. The firm is expected to issue its next earnings results on Thursday, July 26th.
On average, analysts expect that NuVasive will report full year sales of $1.10 billion for the current fiscal year. For the next fiscal year, analysts expect that the business will report sales of $1.15 billion per share, with estimates ranging from $1.14 billion to $1.17 billion. Zacks’ sales averages are a mean average based on a survey of research firms that follow NuVasive.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, May 1st. The medical device company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.06). The business had revenue of $260.50 million during the quarter, compared to analyst estimates of $259.43 million. NuVasive had a return on equity of 13.14% and a net margin of 4.14%. The company’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.37 EPS.
Several research firms have issued reports on NUVA. BidaskClub upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Saturday. Needham & Company LLC restated a “buy” rating and issued a $69.00 price target (down previously from $70.00) on shares of NuVasive in a research report on Wednesday, May 2nd. BMO Capital Markets lowered shares of NuVasive from an “outperform” rating to a “market perform” rating and set a $69.00 price target on the stock. in a research report on Wednesday, May 2nd. BTIG Research restated a “buy” rating and issued a $72.00 price target on shares of NuVasive in a research report on Wednesday, May 2nd. Finally, ValuEngine lowered shares of NuVasive from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the company’s stock. NuVasive currently has an average rating of “Hold” and a consensus price target of $65.75.
NuVasive stock traded up $0.07 during mid-day trading on Tuesday, hitting $50.06. The company’s stock had a trading volume of 244,704 shares, compared to its average volume of 698,659. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.30 and a current ratio of 2.41. The firm has a market cap of $2.57 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.36 and a beta of 0.39. NuVasive has a twelve month low of $44.62 and a twelve month high of $81.68.
In other news, CEO Gregory T. Lucier acquired 6,000 shares of the stock in a transaction on Tuesday, March 6th. The shares were purchased at an average cost of $50.30 per share, for a total transaction of $301,800.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. acquired a new stake in shares of NuVasive during the 4th quarter valued at $19,094,000. State of Tennessee Treasury Department acquired a new stake in shares of NuVasive during the 4th quarter valued at $21,349,000. Raymond James & Associates boosted its stake in shares of NuVasive by 4.2% during the 4th quarter. Raymond James & Associates now owns 41,669 shares of the medical device company’s stock valued at $2,437,000 after buying an additional 1,689 shares during the period. State of Wisconsin Investment Board boosted its stake in shares of NuVasive by 29.0% during the 4th quarter. State of Wisconsin Investment Board now owns 185,000 shares of the medical device company’s stock valued at $10,821,000 after buying an additional 41,640 shares during the period. Finally, UBS Asset Management Americas Inc. boosted its stake in shares of NuVasive by 7.9% during the 4th quarter. UBS Asset Management Americas Inc. now owns 32,682 shares of the medical device company’s stock valued at $1,912,000 after buying an additional 2,399 shares during the period.
NuVasive, Inc, a medical device company, develops and markets minimally-disruptive surgical products and procedurally-integrated solutions for spine surgery. Its products focus on applications for spine fusion surgery, including ancillary products and services used to aid in the surgical procedure. The company's principal product is Maximum Access Surgery, a minimally-disruptive surgical platform, which includes its software-driven nerve detection and avoidance systems, and intraoperative monitoring (IOM) services and support; MaXcess, an integrated split-blade retractor system; and various specialized implants and biologics.
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