NuVasive, Inc. (NASDAQ:NUVA) – Equities researchers at Piper Jaffray Companies dropped their FY2018 earnings per share (EPS) estimates for NuVasive in a research report issued on Tuesday, October 30th. Piper Jaffray Companies analyst M. O’brien now expects that the medical device company will post earnings of $2.18 per share for the year, down from their previous forecast of $2.38. Piper Jaffray Companies has a “Overweight” rating and a $75.00 price target on the stock. Piper Jaffray Companies also issued estimates for NuVasive’s Q2 2019 earnings at $0.63 EPS, Q3 2019 earnings at $0.61 EPS, Q4 2019 earnings at $0.78 EPS, FY2019 earnings at $2.48 EPS and FY2020 earnings at $2.89 EPS.
NuVasive (NASDAQ:NUVA) last released its quarterly earnings results on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.62 by ($0.06). NuVasive had a return on equity of 13.97% and a net margin of 2.24%. The company had revenue of $271.30 million for the quarter, compared to analyst estimates of $265.70 million. During the same quarter last year, the company earned $0.52 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis.
Several other research firms also recently weighed in on NUVA. BidaskClub upgraded shares of NuVasive from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 14th. ValuEngine upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Canaccord Genuity upped their price target on shares of NuVasive from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, September 18th. Zacks Investment Research upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Cowen upped their price target on shares of NuVasive from $62.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $67.63.
NUVA opened at $56.50 on Thursday. NuVasive has a twelve month low of $44.62 and a twelve month high of $72.41. The stock has a market cap of $3.21 billion, a P/E ratio of 29.58, a P/E/G ratio of 1.71 and a beta of 0.69.
Hedge funds have recently added to or reduced their stakes in the business. Zions Bancorporation acquired a new stake in NuVasive in the 3rd quarter valued at about $225,000. Strs Ohio raised its holdings in NuVasive by 45.5% in the 2nd quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock valued at $166,000 after acquiring an additional 1,000 shares during the last quarter. FineMark National Bank & Trust acquired a new stake in NuVasive in the 3rd quarter valued at about $248,000. Sun Life Financial INC acquired a new stake in NuVasive in the 2nd quarter valued at about $201,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in NuVasive in the 2nd quarter valued at about $221,000.
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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