Equities analysts forecast that NuVasive, Inc. (NASDAQ:NUVA) will announce $0.56 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have provided 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 per share of $0.58 in the same quarter last year, which would indicate a negative year-over-year growth rate of 3.4%. The business is scheduled to announce its next earnings results 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 anticipate that the business will report earnings of $2.54 per share, with EPS estimates ranging from $2.49 to $2.60. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that follow NuVasive.

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

NUVA has been the subject of a number of recent analyst reports. Needham & Company LLC downgraded shares of NuVasive from a “buy” rating to a “hold” rating in a report on Friday, February 8th. Jefferies Financial Group downgraded shares of NuVasive from a “buy” rating to a “hold” rating and set a $60.00 price target for the company. in a report on Tuesday, February 12th. BidaskClub upgraded shares of NuVasive from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. Cantor Fitzgerald restated a “hold” rating and set a $50.00 price target on shares of NuVasive in a report on Monday, February 11th. Finally, Zacks Investment Research downgraded shares of NuVasive from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $67.43.

In related news, President Matthew Link sold 10,100 shares of the stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $62.00, for a total transaction of $626,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.97% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its position in NuVasive by 1.2% in the 4th quarter. Fisher Asset Management LLC now owns 1,272,638 shares of the medical device company’s stock valued at $63,072,000 after buying an additional 15,359 shares during the period. Norges Bank purchased a new position in NuVasive in the 4th quarter valued at approximately $50,996,000. Northern Trust Corp boosted its position in NuVasive by 1.3% in the 1st quarter. Northern Trust Corp now owns 830,053 shares of the medical device company’s stock valued at $47,139,000 after buying an additional 10,463 shares during the period. Macquarie Group Ltd. boosted its position in NuVasive by 17.7% in the 4th quarter. Macquarie Group Ltd. now owns 825,194 shares of the medical device company’s stock valued at $40,897,000 after buying an additional 124,224 shares during the period. Finally, Geode Capital Management LLC boosted its position in NuVasive by 7.6% in the 1st quarter. Geode Capital Management LLC now owns 629,136 shares of the medical device company’s stock valued at $35,728,000 after buying an additional 44,348 shares during the period.

Shares of NASDAQ NUVA traded up $0.49 during midday trading on Friday, reaching $61.53. 364,101 shares of the stock were exchanged, compared to its average volume of 676,983. The company has a market capitalization of $3.19 billion, a P/E ratio of 27.59, a P/E/G ratio of 2.29 and a beta of 1.21. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.75 and a quick ratio of 1.96. NuVasive has a twelve month low of $43.51 and a twelve month high of $72.41.

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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