Wall Street analysts forecast that NuVasive, Inc. (NASDAQ:NUVA) will report earnings per share of $0.56 for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for NuVasive’s earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.55. NuVasive reported earnings per share of $0.53 in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The business is scheduled to report its next earnings report on Thursday, February 8th.

On average, analysts expect that NuVasive will report full-year earnings of $1.91 per share for the current fiscal year, with EPS estimates ranging from $1.90 to $1.92. For the next fiscal year, analysts expect that the company will report earnings of $2.25 per share, with EPS estimates ranging from $2.19 to $2.38. 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 quarterly earnings results on Tuesday, October 24th. The medical device company reported $0.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.04. NuVasive had a return on equity of 13.65% and a net margin of 6.36%. The company had revenue of $247.40 million for the quarter, compared to the consensus estimate of $255.70 million. During the same quarter in the prior year, the business posted $0.40 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis.

NUVA has been the subject of a number of recent analyst reports. Royal Bank of Canada restated a “buy” rating and issued a $85.00 price objective on shares of NuVasive in a research report on Monday, August 21st. Needham & Company LLC cut shares of NuVasive from a “hold” rating to an “underperform” rating in a research report on Monday, August 28th. BTIG Research initiated coverage on shares of NuVasive in a research report on Thursday, September 7th. They issued a “buy” rating and a $82.00 price objective for the company. Cowen restated an “outperform” rating and issued a $83.00 price objective on shares of NuVasive in a research report on Monday, September 18th. Finally, Leerink Swann restated a “buy” rating and issued a $74.00 price objective (down previously from $87.00) on shares of NuVasive in a research report on Wednesday, September 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $72.43.

NuVasive (NUVA) traded up $1.21 on Monday, hitting $60.79. 1,279,100 shares of the company were exchanged, compared to its average volume of 845,535. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.51 and a current ratio of 2.85. NuVasive has a 1-year low of $49.25 and a 1-year high of $81.68. The company has a market cap of $3,098.34, a PE ratio of 32.16, a P/E/G ratio of 2.16 and a beta of 0.77.

NuVasive declared that its board has initiated a share buyback program on Tuesday, October 24th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the medical device company to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in NuVasive by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 4,164,226 shares of the medical device company’s stock worth $320,312,000 after purchasing an additional 53,769 shares in the last quarter. State Street Corp increased its holdings in NuVasive by 4.2% during the 2nd quarter. State Street Corp now owns 1,710,341 shares of the medical device company’s stock worth $131,562,000 after purchasing an additional 68,344 shares in the last quarter. Voya Investment Management LLC increased its holdings in NuVasive by 43.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,699,964 shares of the medical device company’s stock worth $130,761,000 after purchasing an additional 517,115 shares in the last quarter. Alyeska Investment Group L.P. grew its holdings in shares of NuVasive by 13.7% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,559,940 shares of the medical device company’s stock valued at $86,514,000 after acquiring an additional 187,863 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of NuVasive by 6.7% in the 3rd quarter. American Century Companies Inc. now owns 986,812 shares of the medical device company’s stock valued at $54,729,000 after acquiring an additional 62,377 shares in the last quarter.

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NuVasive Company Profile

Nuvasive, Inc is a medical device company. The Company focuses on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine surgery. Its product portfolio focuses on applications for spine fusion surgery, including biologics used to aid in the spinal fusion process.

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Earnings History and Estimates for NuVasive (NASDAQ:NUVA)

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