$0.54 EPS Expected for NuVasive, Inc. (NASDAQ:NUVA) This Quarter

Brokerages forecast that NuVasive, Inc. (NASDAQ:NUVA) will announce earnings of $0.54 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for NuVasive’s earnings. The highest EPS estimate is $0.58 and the lowest is $0.52. NuVasive reported earnings per share of $0.53 during the same quarter last year, which would suggest a positive year-over-year growth rate of 1.9%. The company is expected to issue its next quarterly earnings report on Wednesday, May 6th.

According to Zacks, analysts expect that NuVasive will report full-year earnings of $2.60 per share for the current year, with EPS estimates ranging from $2.58 to $2.63. For the next year, analysts anticipate that the business will report earnings of $2.92 per share, with EPS estimates ranging from $2.84 to $2.98. Zacks’ earnings per share averages are an average based on a survey of research analysts that cover NuVasive.

NuVasive (NASDAQ:NUVA) last issued its earnings results on Thursday, February 20th. The medical device company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. The company had revenue of $310.40 million for the quarter, compared to analyst estimates of $304.93 million. NuVasive had a return on equity of 14.86% and a net margin of 5.58%. The business’s revenue was up 7.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.69 EPS.

Several brokerages recently weighed in on NUVA. SunTrust Banks began coverage on NuVasive in a research note on Tuesday, January 7th. They set a “buy” rating and a $93.00 target price for the company. SVB Leerink upgraded NuVasive from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $72.00 to $92.00 in a research report on Friday, December 13th. BidaskClub downgraded NuVasive from a “hold” rating to a “sell” rating in a research report on Thursday, March 5th. Citigroup initiated coverage on NuVasive in a research report on Wednesday, March 4th. They issued a “neutral” rating and a $68.00 price objective for the company. Finally, Cantor Fitzgerald raised their price objective on NuVasive from $68.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $77.44.

NASDAQ:NUVA traded up $0.08 during mid-day trading on Tuesday, hitting $53.01. 25,140 shares of the company’s stock traded hands, compared to its average volume of 1,005,570. The firm has a 50 day moving average of $73.42 and a two-hundred day moving average of $70.94. NuVasive has a 12 month low of $52.69 and a 12 month high of $81.91. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 43.46, a price-to-earnings-growth ratio of 1.65 and a beta of 1.31. The company has a current ratio of 3.69, a quick ratio of 2.18 and a debt-to-equity ratio of 0.76.

In other news, President Matthew Link sold 3,000 shares of the firm’s stock in a transaction on Thursday, January 16th. The stock was sold at an average price of $79.80, for a total value of $239,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.97% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the company. Norges Bank bought a new position in NuVasive during the fourth quarter worth about $76,528,000. Anchor Capital Advisors LLC increased its position in NuVasive by 61.3% during the fourth quarter. Anchor Capital Advisors LLC now owns 1,252,432 shares of the medical device company’s stock worth $96,863,000 after buying an additional 475,759 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in NuVasive during the third quarter worth approximately $15,313,000. Panagora Asset Management Inc. increased its position in NuVasive by 178.0% during the fourth quarter. Panagora Asset Management Inc. now owns 210,682 shares of the medical device company’s stock worth $16,294,000 after buying an additional 134,904 shares during the last quarter. Finally, Carillon Tower Advisers Inc. increased its position in NuVasive by 23.7% during the third quarter. Carillon Tower Advisers Inc. now owns 459,540 shares of the medical device company’s stock worth $29,126,000 after buying an additional 87,926 shares during the last quarter. Institutional investors and hedge funds own 98.86% of the company’s stock.

NuVasive Company Profile

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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