NuVasive, Inc. (NASDAQ:NUVA) – Equities researchers at Jefferies Financial Group reduced their Q4 2018 EPS estimates for NuVasive in a research note issued on Tuesday, October 30th. Jefferies Financial Group analyst R. Denhoy now anticipates that the medical device company will earn $0.63 per share for the quarter, down from their previous forecast of $0.82.
A number of other equities analysts have also weighed in on NUVA. ValuEngine upgraded shares of NuVasive from a “strong sell” rating to a “sell” rating in a research report on Monday, July 30th. Cantor Fitzgerald reiterated a “hold” rating and set a $58.00 target price on shares of NuVasive in a research report on Tuesday, July 31st. BTIG Research started coverage on shares of NuVasive in a research report on Wednesday, August 1st. They set a “buy” rating for the company. Needham & Company LLC cut their target price on shares of NuVasive from $69.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, August 1st. Finally, BidaskClub upgraded shares of NuVasive from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. NuVasive presently has an average rating of “Hold” and an average price target of $67.63.
Shares of NASDAQ:NUVA opened at $56.50 on Friday. The stock has a market cap of $3.21 billion, a price-to-earnings ratio of 29.58, a price-to-earnings-growth ratio of 1.71 and a beta of 0.69. NuVasive has a twelve month low of $44.62 and a twelve month high of $72.41.
NuVasive (NASDAQ:NUVA) last issued its earnings results on Tuesday, October 30th. The medical device company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.06). The business had revenue of $271.30 million for the quarter, compared to the consensus estimate of $265.70 million. NuVasive had a return on equity of 13.97% and a net margin of 2.24%. NuVasive’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 EPS.
Institutional investors have recently made changes to their positions in the business. Zions Bancorporation bought a new stake in NuVasive during the third quarter valued at approximately $225,000. Strs Ohio lifted its position in NuVasive by 45.5% during the second quarter. Strs Ohio now owns 3,200 shares of the medical device company’s stock valued at $166,000 after purchasing an additional 1,000 shares during the last quarter. FineMark National Bank & Trust purchased a new position in shares of NuVasive during the third quarter worth approximately $248,000. Sun Life Financial INC purchased a new position in shares of NuVasive during the second quarter worth approximately $201,000. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of NuVasive during the second quarter worth approximately $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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