Analysts Offer Predictions for NuVasive Inc.’s FY2018 Earnings (NUVA)
NuVasive Inc. (NASDAQ:NUVA) – Research analysts at Leerink Swann increased their FY2018 earnings per share (EPS) estimates for NuVasive in a note issued to investors on Friday. Leerink Swann analyst R. Newitter now anticipates that the brokerage will post earnings of $2.80 per share for the year, up from their previous forecast of $2.52.
NuVasive (NASDAQ:NUVA) last posted its quarterly earnings results on Tuesday, July 26th. The medical device company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.04. The company earned $236.50 million during the quarter, compared to the consensus estimate of $232.86 million. NuVasive had a return on equity of 10.57% and a net margin of 5.28%. The firm’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.31 EPS.
Several other equities analysts also recently issued reports on the stock. Jefferies Group restated a “buy” rating on shares of NuVasive in a research note on Wednesday, August 3rd. Barclays PLC upped their price objective on shares of NuVasive from $63.00 to $71.00 and gave the company an “overweight” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded shares of NuVasive from a “hold” rating to a “strong-buy” rating and set a $70.00 price objective for the company in a research note on Thursday, July 28th. TheStreet upgraded shares of NuVasive from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 26th. Finally, JPMorgan Chase & Co. upgraded shares of NuVasive from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $55.00 to $74.00 in a research note on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.36.
NuVasive (NASDAQ:NUVA) opened at 65.60 on Monday. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 68.05 and a beta of 0.51. NuVasive has a 1-year low of $36.81 and a 1-year high of $69.50. The firm’s 50 day moving average price is $66.32 and its 200-day moving average price is $59.20.
In other NuVasive news, EVP Jason Hannon sold 2,920 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $62.80, for a total transaction of $183,376.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lesley H. Howe sold 3,602 shares of the business’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $62.44, for a total transaction of $224,908.88. The disclosure for this sale can be found here. Corporate insiders own 4.70% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Consonance Capital Management LP purchased a new position in NuVasive during the first quarter worth about $48,893,000. Champlain Investment Partners LLC raised its stake in shares of NuVasive by 59.2% in the second quarter. Champlain Investment Partners LLC now owns 1,682,830 shares of the medical device company’s stock worth $100,499,000 after buying an additional 625,555 shares in the last quarter. Hood River Capital Management LLC bought a new stake in shares of NuVasive during the second quarter worth $25,307,000. Columbus Circle Investors raised its stake in shares of NuVasive by 50.4% in the second quarter. Columbus Circle Investors now owns 1,020,650 shares of the medical device company’s stock worth $60,953,000 after buying an additional 341,843 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in NuVasive by 28.0% in the third quarter. Eagle Asset Management Inc. now owns 1,255,781 shares of the medical device company’s stock worth $83,710,000 after buying an additional 274,587 shares during the last quarter.
NuVasive Company Profile
Nuvasive, Inc is a medical device company in the spine market. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine. The Company offers two product lines: spine surgery products and biologics. The Company’s spine surgery products line offerings include thoracolumbar product offerings, cervical product offerings, Intra-Operative Monitoring (IOM) services and disposables, which are used to enable access to the spine and to perform restorative and fusion procedures in a minimally disruptive fashion.
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