NuVasive, Inc. (NASDAQ:NUVA) Expected to Announce Earnings of $0.56 Per Share

Brokerages expect NuVasive, Inc. (NASDAQ:NUVA) to report $0.56 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for NuVasive’s earnings, with the highest EPS estimate coming in at $0.66 and the lowest estimate coming in at $0.50. NuVasive reported earnings of $0.58 per share during the same quarter last year, which indicates a negative year over year growth rate of 3.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that NuVasive will report full-year earnings of $2.28 per share for the current fiscal year, with EPS estimates ranging from $2.24 to $2.32. For the next fiscal year, analysts forecast that the business will report earnings of $2.54 per share, with EPS estimates ranging from $2.49 to $2.60. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for NuVasive.

NuVasive (NASDAQ:NUVA) last posted its earnings results on Wednesday, May 1st. The medical device company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.12. The business had revenue of $274.78 million for the quarter, compared to analyst estimates of $269.22 million. NuVasive had a net margin of 4.39% and a return on equity of 15.16%. NuVasive’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS.

A number of research firms recently weighed in on NUVA. ValuEngine raised shares of NuVasive from a “hold” rating to a “buy” rating in a report on Tuesday, May 7th. BidaskClub raised shares of NuVasive from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $61.00 target price on shares of NuVasive in a report on Thursday, May 2nd. Finally, Zacks Investment Research lowered shares of NuVasive from a “hold” rating to a “sell” rating in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. NuVasive presently has an average rating of “Hold” and a consensus price target of $67.43.

NuVasive stock opened at $59.65 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.96 and a current ratio of 3.75. The company has a market cap of $3.08 billion, a P/E ratio of 26.75, a PEG ratio of 2.18 and a beta of 1.19. NuVasive has a 1-year low of $43.51 and a 1-year high of $72.41.

In other news, President Matthew Link sold 10,100 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $62.00, for a total value of $626,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.97% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Enlightenment Research LLC purchased a new stake in shares of NuVasive in the 4th quarter valued at $25,000. Royce & Associates LP purchased a new stake in NuVasive during the 4th quarter valued at $25,000. Bessemer Group Inc. purchased a new stake in NuVasive during the 4th quarter valued at $50,000. Knott David M purchased a new stake in NuVasive during the 1st quarter valued at $114,000. Finally, Rockefeller Capital Management L.P. boosted its position in NuVasive by 251.2% during the 1st quarter. Rockefeller Capital Management L.P. now owns 2,002 shares of the medical device company’s stock valued at $114,000 after buying an additional 1,432 shares during the period.

About NuVasive

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 products include 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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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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